Disability Insurance for Military Dentists?

[distressstudent]

Anyone got a recommendation for disability insurance that works well with dentists going into AD?

A rep told me that I should lock up my premiums now, so I can put it on pause when I enter AD and go back to it when I exit AD. That makes sense. However, she told me that their company wants us to start close a year before entering AD, which some people have told me is not common practice.

So anyone got recommendations?

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[customx]

I signed up with Eagleston and a purchased a Principal policy. This is their website: Eagleston Financial Group

It's recommended you sign up a month before the end of your D3 year or at least one year before you go active duty. If you don't, you will only be able to sign up for one insurance company (can't recall the name). The benefit of signing up for a policy early is that you're younger, hopefully no medical concerns, and relatively healthy. It's my understanding that you won't have to complete another exam after completing AD. If you sign up after completing AD your rate will be higher due to your increase in age and you'll need to submit another exam/urinalysis.

 

[distressstudent]

I signed up with Eagleston and a purchased a Principal policy. This is their website: Eagleston Financial Group

It's recommended you sign up a month before the end of your D3 year or at least one year before you go active duty. If you don't, you will only be able to sign up for one insurance company (can't recall the name). The benefit of signing up for a policy early is that you're younger, hopefully no medical concerns, and relatively healthy. It's my understanding that you won't have to complete another exam after completing AD. If you sign up after completing AD your rate will be higher due to your increase in age and you'll need to submit another exam/urinalysis.

I have talked to prinicpal too and they told me the same thing: 1 year before hand.

However, other reps/agent seems to think differently
https://forums.studentdoctor.net/members/md-financial-services-scott.600690/

I am also questioned the prinicpal rep if one year was a hard and fast rule, but he said he will still work with me if there's like 8 months until active duty. Which makes me think that prinicpal might not have a hard rule about it but more of a sales tactic by agents selling that policy...

 

[Batmansvoice]

I presently have Guardian/Berkshire Disability Insurance. Does the disability insurance go away or do I become ineligible for this insurance once I become active duty?

 

[MD Financial Services Scott]

Anyone got a recommendation for disability insurance that works well with dentists going into AD?

A rep told me that I should lock up my premiums now, so I can put it on pause when I enter AD and go back to it when I exit AD. That makes sense. However, she told me that their company wants us to start close a year before entering AD, which some people have told me is not common practice.

So anyone got recommendations?

If you are a year out of AD you can typically get Principal, Standard and Guardian (always some exceptions), if you are 60+ days out you can get Ameritas, if you are currently active duty you can get Mass. Now Mass will actually provide $2k to AD docs the others go into suspense during active duty. My thought on the 'suspense products' is 'perfect, let me get the coverage I need now/in the future at the current age and health status I am now, then upon discharge I simple resume the premium with a clean contract that was issued prior to any issues happening while AD". There are some good solutions you just need to know navigate them correctly.

 

[MD Financial Services Scott]

I presently have Guardian/Berkshire Disability Insurance. Does the disability insurance go away or do I become ineligible for this insurance once I become active duty?

Does not go away but typically just goes into suspense....but so does your premium.

 

[isittoolate]

Anyone got a recommendation for disability insurance that works well with dentists going into AD?

A rep told me that I should lock up my premiums now, so I can put it on pause when I enter AD and go back to it when I exit AD. That makes sense. However, she told me that their company wants us to start close a year before entering AD, which some people have told me is not common practice.

So anyone got recommendations?

As far as I know, Mass Mutual is the only company gives coverage while on AD, limited to 2k. A representative came and talked to us from Treolar and Heisel stating that AD qualifies for the "student discount" 25-33% (gender neutral pricing where females 33% and males 25% discount). Mass Mutual is the only company that will allow you to increase your coverage after you leave AD and keep the discount. According to this rep, as long as you apply for disability while you are on AD, you will qualify for this discount.

For me, $2k coverage while on AD is very insignificant, but this discount is significant. If I decide to separate, 3-4 months prior to separation I plan on applying and locking in this discount with Mass Mutual.

 

[distressstudent]

As far as I know, Mass Mutual is the only company gives coverage while on AD, limited to 2k. A representative came and talked to us from Treolar and Heisel stating that AD qualifies for the "student discount" 25-33% (gender neutral pricing where females 33% and males 25% discount). Mass Mutual is the only company that will allow you to increase your coverage after you leave AD and keep the discount. According to this rep, as long as you apply for disability while you are on AD, you will qualify for this discount.

For me, $2k coverage while on AD is very insignificant, but this discount is significant. If I decide to separate, 3-4 months prior to separation I plan on applying and locking in this discount with Mass Mutual.

I talked to a representative from T&H and they recommended Mass Mutual as well. I was initially leaning towards Principal, and although they do offer their policy, they steered me away from them because it's not a good policy for active duty docs. Her reasoning was that Principal offers no coverage during active duty, and any change in status during active duty could affect the policy post-AD. My understanding was that reactivating a suspended policy makes me eligible to get go back to my rate pre-AD, but she seem to suggest that wasn't the case.

And can you elaborate on this line
"According to this rep, as long as you apply for disability while you are on AD, you will qualify for this discount."
Are you saying you qualify for a 25% student discount even if you never had a policy with Mass Mutual as long as you're still AD?

 

[isittoolate]

If at any point while on AD you apply for Mass Mutual you should qualify for a discount (the same 25% discount as the student discount).

Essentially you qualify for the equivalent of the student discount as AD military.

Hopefully that clarifies things. My point was that $2k/mo coverage may or may not be significant depending on your point of view. However, the 25% discount is retained after retirement or separation, allowing you to keep a discount even while increasing your coverage.