The Ameritas Guaranteed Standard Issue Disability
Coverage Amounts for Medical Residents and Fellows
Starter Plan
Locks in Coverage at a Low Initial Rate
$2,500 Monthly Benefit
- Ability to increase up to a $10,000 monthly benefit without medical underwriting
- Own Occupation Definition of Disability
- 20% Discount
- Unisex Rates
- No Medical Exam Required
Standard Plan
Maximum Benefits for Residents and Fellows
$5,000 Monthly Benefit
- Ability to increase up to a $10,000 monthly benefit without medical underwriting
- Own Occupation Definition of Disability
- 20% Discount
- Unisex Rates
- No Medical Exam Required
Graduate Plan
Designed for Graduating Residents/Fellows
$7,500 Monthly Benefit
- Ability to increase up to a $10,000 monthly benefit without medical underwriting
- Own Occupation Definition of Disability
- 20% Discount
- Unisex Rates
- No Medical Exam Required
- *You may qualify for up to a $10,000 monthly benefit, based on your employment contract
Important Features
Total Disability / Own Occupation Rider
Total Disability means that, solely due to sickness or injury, you are not able to perform the material and substantial duties of your occupation. If you are a Physician or dentists and have limited your duties to the performance of the usual and customary functions of a specific, professionally recognized medical or dental specialty, we will consider that specialty your occupation.
Enhanced Residual Disability Rider (partial disability)
Your entitled to receive partial benefits for partial disabilities. Partial benefits begin if you are disabled, still working in your occupation, and suffer a loss of income of at least 15%. The benefits paid are proportionate to your loss of earnings.
Non Cancellable Guaranteed Renewable
As long as your premiums are paid, Ameritas can not cancel your policy, modify the provisions, or change your rates prior to age 65. The policy is conditionally renewable thereafter on an annual basis for life, subject to changes in premium.
Future Increase Option
This rider allows you to increase coverage on an annual basis up to age 55. You can obtain up to a $10,000 monthly benefit without medical underwriting. (Option to obtain higher limits with medical underwriting).
Automatic Benefit Increase
Ameritas will automatically adjust your monthly benefit every year by 4% for the first 5 years of the policy.
3% Cost of Living Adjustment (COLA)
This benefit is designed to increase your monthly benefits on an annual basis during a claim.
Benefit Period
Policy can pay claims up to age 65
Elimination Period
You must be disabled (total or partial disability qualifies) for at least 90 days to be eligible for benefits
Additional Benefits Included
Presumptive Disability Benefit
Provides coverage in the event you permanently loose the power of speech, hearing in both ears, sight in the eyes, or use of both hands, both feet, or one hand and one foot. Benefits become payable when the presumptive disability occurs, the loss does not need to be irrecoverable, and the elimination period will be waved.
Good Health Benefit
Ameritas will reduce the elimination by 2 days for every consecutive year without receiving benefits. The maximum reduction is limited to 30 days.
Non Disabling Injury
If you experience an injury that requires medical treatment prescribed by a physician or the repair of natural teeth, they will pay the expense of the treatment, not the exceed the lesser of 50% of the base monthly benefit or 3,000. (this rider is not available in all states)
Survivor Benefit
If you die after satisfying the elimination period, Ameritas will pay 3 months of base monthly benefit to a designated beneficiary.
Waiver of Premium
You do not pay for your coverage after you are disabled for the elimination period. Ameritas will refund the premiums paid for coverage after the disability began and continue to waive all premiums that become due during your continuous disability.
Cobra Premium Benefit
If you become unemployed as a result of a disability and you are paying COBRA premiums, Ameritas will reimburse those premiums up to 1,000 a month for up to 18 months.
Optional Benefits
Catastrophic Rider
Pays a benefit in addiotnal to the base monthly benefit if the insured loses the ability to perform two or more activities of daily living without assistance; becomes cognitively impaired; or becomes presumptively disabled under the terms of the policy.