FAQ

What is Long-Term Disability Income Insurance?

Replaces a percentage of your income in the event you are too sick or hurt to work after the policy elimination period.

Why should I consider purchase before I leave school?

While a student at OHSU, you are eligible for a discounted policy through some carriers. This discount can be up to 25% of the original premium. This discount is for the life of the contract and applies to any future increases.

How long does Disability Income Insurance pay you a benefit?

Benefits, if approved are payable while you remain disabled up to the stated benefit period in your policy; typically to age 65, 67 or 70.

Do I have to be totally disabled?

No, the plans we recommend cover you in the event you are partially disabled. This can mean you are working fewer hours or have suffered a loss of income due to a qualified disability.

What are some typical features or riders I may want to consider for my policy?

For our dentist clients we typically recommend the following features/riders:

• Cost of living rider (COLA) - The purpose of the COLA rider is to help benefits keep pace with inflation in the event of a disability lasting longer than 12 months.

• Own-Occupation - The Own Occupation rider provides a Monthly Benefit when the Insured is totally disabled from your current occupation and is working in another occupation.

• Student Loan Rider - Pays a monthly benefit during periods of eligible Total Disability for the purpose of reimbursing the insured’s student loan debt.

• Future Insurability Option (FIO) - This rider allows the policy owner to increase the amount of monthly disability coverage as the insured’s income increases before disability. At issue, the FIO creates a pool of benefits which will be available during annual option periods to increase coverage.

• Catastrophic – Covers you in addition to your base policy amount if you are unable to preform 2 of the 6 “Activities of Daily Living”

Will my policy follow me if I leave the state I purchased the policy in?

Yes, your policy is portable and will follow you despite the state you move to.

How much coverage does a starting/graduating dentist need?

Most insurance companies will cover a graduating dentist for up to $5,000/mo without showing proof of income.

What does the medical underwriting process look like?

After completing an application, the insurance company will review your application to include medical history, labs if needed and any avocations you may have to determine if they can provide coverage for you.

What’s a “Medical Exclusion”?

If the insurance company deems a recent or pre-existing condition to be of concern, they may exclude that pre-existing condition from the coverage.