HomeProductsHigh Limits

incomeprotect® | HIGH LIMITS

Addressing the 80% Income Replacement Business Overhead Expense and Buy-Sell Gaps

As a high income physician or dentist, you have the luxury of being well prepared for potential disabling events – if you can find adequate coverage.

Income Replacement Gap
For high income earners, typical first tier (Individual Disability Insurance or IDI) and second tier (Group Disability or IDI-Supplement) insurance limits barely cover 20% -60% of earnings when you become disabled.

That’s short of a 65% – 80% total income replacement target most financial professionals recommend. Unfortunately, most insurers won’t offer those levels of coverage, even though you can afford it. This program offers up to 80% income replacement.

Business Overhead Buy-out Gap
Many medical and dental practices also have buy-sell agreements which require a lump-sum payment to partners in the event of exit due to disability. This program offers high lump-sum options.

Close the Gap – Extend the Continuum of Coverage
IncomeProtect® | HIGH LIMITS provides high-income physicians and dentists with unusually high limit disability insurance options to close the income gap left by potential disabling episodes.

High Income Case

A surgeon earning $80k/month becomes disabled and is unable to operate. She needs $64k/month to meet obligations, and the practice needs to fund a $2 million buy-sell agreement.


Individual Disability Insurance

IDI Supplement Coverage

$34k/mo + $2 million lump sum

Income Replacement Continuum


Key Program Features

incomeprotect® | HIGH LIMITS coverage extends the continuum of strong features found in IDI and IDI Supplement disability policies.

Definition of Disability: Own Procedures
The incomeprotect® | HIGH LIMITS definition of disability closely mirrors that of many IDI policies, which are considered the industry gold standard. With our policy, you are disabled if you cannot perform your own procedures from the last 12 months, based on your actual CPT/CDT codes. This ensures that you are protected for the actual specialized work you do.

Assignable Benefit: DI Buyout and Business Overhead Plans
This feature helps ensure there are adequate resources to cover these business expenses if a disabling event occurs.

Mental & Nervous Conditions
Limited coverage for these important conditions is always included in our monthly benefit policies.

Guaranteed Issue*
Coverage is offered without the need to answer personal medical or financial questions when certain criteria are met.

*Guaranteed Issue is underwriter discretion based upon applicant and requested plan design.

Added-Value Features

incomeprotect® | HIGH LIMITS includes several special enhanced features standard as part of the coverage for high income doctors. Highlights include:

Trailing Income/Receivables
Helps ensure you are not disqualified from being paid any benefit because services performed before your disability weren’t reimbursed until afterwards.

Indexed earnings
Helps ensure that doctors working part-time due to disability are not disqualified from benefits due to inflation impacts on eligibility formulas.

Drug/Alcohol Rehabilitation
24 month benefit for drug/alcohol rehabilitation, a benefit excluded by most other carriers. Applies only to monthly benefits.

Three unique optional benefits

Infectious and Contagious Disease Benefit
Compensates for loss of income due to license restriction or reduced patient flow resulting from public knowledge of these illnesses.

Extended Earnings Protection
After you recover, pays monthly supplemental income as you rebuild your patient base lost due to disability.

Cost of Living Adjustment (COLA) benefit
Allows disability income to keep up with inflation while on Total Disability.

We Make It Simple – Insurance Physicians Expect

Your HIGH LIMITS coverage is backed by the convenience and quality of the MGIS underwriting, service, and claims teams

Adding HIGH LIMITS as an additional tier in your incomeprotect disability creates an integrated solution that reduces headaches and cost, and en- sures a smooth, end-to-end service experience.

Lloyd’s means a tradition of excellence and security

These policies are backed by the highest levels of financial strength. All incomeprotect® | HIGH LIMITS policies are underwritten by certain underwriters at Lloyd’s, recognized worldwide for financial strength, security and stability.

MGIS is a leading national insurance program manager experienced in building and managing specialized programs for medical professionals. We partner with the highest rated insurers and focus on group disabil- ity and life for medical practices of all sizes, types, and specialties. Insurance policies managed by MGIS are backed by Sun Life Financial and Certain Underwriters at Lloyd’s. We work exclusively through select brokers and benefit advisers. MGIS services are provided by MGIS affiliated companies: The MGIS Companies, Inc., Medical Group Insurance Services, Inc., and MGIS Underwriting Managers, Inc. (DBA as MGIS Professional Insurance Solutions in CA and MGIS Underwriting Agency in NY).

Lloyd’s is the world’s specialist insurance and reinsurance market. With expertise earned over centuries, Lloyd’s is the foundation of the insurance industry and the future of it. Led by expert underwriters and brokers who cover more than 200 territories, the Lloyd’s market develops the essential, complex and critical insurance needed to underwrite human progress. Backed by diverse global capital and excellent financial ratings, Lloyd’s works with a global network to grow the insured world – building resilience for businesses and local communities and strengthening economic growth around the world.