My wife is a 32 year old fifth-year surgical resident. We are in the process of obtaining quotes for disability insurance for her. We met with an insurance broker and received two quotes. The broker was pushing the Guardian option saying it is about 90% of the policies he does.
Guardian for $5k/month with a future purchase option to bring it to $20k/month; 90 day elimination period. The quote includes everything WCI articles have suggested, own occupation/specialty specific, cost of living adjustment, partial disability rider, etc. The quote was for $362/month level or $208/month graded.
Principal for $6.5k/month; 90 day elimination period. This quote also includes everything except it doesn't include a specific future purchase option? The broker said you have the option to increase the policy every three years but didn't get into anything too specific. The quote was for $430/month level, no graded option.
I've heard good things about Guardian and its a lower cost. Does this quote seem reasonable?
Guardian for $5k/month with a future purchase option to bring it to $20k/month; 90 day elimination period. The quote includes everything WCI articles have suggested, own occupation/specialty specific, cost of living adjustment, partial disability rider, etc. The quote was for $362/month level or $208/month graded.
Principal for $6.5k/month; 90 day elimination period. This quote also includes everything except it doesn't include a specific future purchase option? The broker said you have the option to increase the policy every three years but didn't get into anything too specific. The quote was for $430/month level, no graded option.
I've heard good things about Guardian and its a lower cost. Does this quote seem reasonable?
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