Quick Disability Insurance Question

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FirstNobleTruth

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Looking for a little guidance, to make sure I'm not missing something.

I'm a 30 yo healthy male, attending physician. Income around ~325k, unmarried, no dependents, relatively low COL lifestyle and currently cranking away at 200k of student loans.

I have my own Disability Insurance policy through Met Life, providing monthly benefit of $5250 for a premium of $185.76. I can increase this up to $15,000/month w/out repeating medical exam.

I am starting an academic job in July which seems to have great benefits.

One of these is a Mandatory Disability Insurance Policy through the Hartford. This will cover 66.67% of my salary, and is occupation-specific. I would have to pay the premium, but this is mandatory so I don't really have a choice.

My plan was to keep the Met Life policy for now, but not to increase it while I am still at this job and with the mandatory policy, as the two will be potentially providing me something like 15-20k/month if I'm disabled. I will keep the Met Life individual policy in case I switch jobs, etc.

Does this make sense? Thank you.

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That does make sense based on everything you stated. Be sure to read the group policy because where it might state Own Occupation Specific you should read and understand what happens if you choose to work post a disability and or does the Own Occupation have a period shorter than age 65. Those points will dramatically change the way that policy will perform at claim time.
 
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