The more successful you are, the greater the risk to your practice — and your livelihood — in the event of a disability.
MGIS is pleased to offer high-limit individual disability coverage for high-earning physicians and surgeons (generally those earning more than $300,000 per year). Insured by Lloyd’s of London, this coverage is ideal for high-income earners who need additional income protection beyond their Group Long-Term Disability (LTD) and Individual Disability Insurance (IDI) coverages. With over four decades of experience in servicing medical practices, we will ensure your high-limit disability coverage fits your needs.
High Limits of Specialized Income Protection
As a high-income physician or surgeon, you demand high limits of specialized income protection. Offering superior protection with specialized definitions, this supplemental disability plan from MGIS provides high-limit coverage—an additional layer of benefits that covers up to 70% of total income–that traditional domestic insurance companies fail to offer.
Add a Layer of Benefits on Your Existing Coverages
This MGIS high-limit disability coverage can be layered on top of your existing Group LTD coverage and your Individual Disability Insurance plan. It can help you to fill in the gaps—the shortfall between your income and the protection provided by your Group LTD and your IDI. You will not be required to make any changes to your existing Group LTD coverage or IDI, which means that the process of obtaining the increased income protection you need will be greatly simplified.
Insured at Lloyd’s of London
Lloyd’s of London offers solutions to many challenges not addressed by the traditional life and health insurance markets. Lloyd’s covers the world’s most complex and specialized risks—from oil rigs to celebrity body parts, from major airlines to the world’s biggest banks and sporting events.
High-Limit Disability Plan Features and Benefits
- Designed exclusively for physicians and surgeons
- Up to five-year monthly benefit plan with available lump sum benefit
- Three-year rate guarantee
- Guaranteed issue underwriting
- Simplified enrollment process
- Superior protection with medical specialty definitions of disability
- MGIS dedicated account management
- True “own specialty and sub-specialty” definition to match the underlying Group LTD coverage
- Single-source billing—your practice is provided a list bill of all participants
- Up to 70% income replacement from all insured disability sources
- Fully portable
- MGIS multi-product discounts apply
- Backed by over 40 years of MGIS claims advocacy
- High-Limit Disability Plan options
- Lump-sum payment option up to 5x annual salary
- Cost-of-Living (COLA) Benefit
- Mental/Nervous and Drug/Alcohol Benefits
- Residual Disability Benefit