HomeLearnToo Old For Physician Group LTD?

When presenting Group LTD to physicians in their early 60s you may meet resistance. After all, what’s in it for them? Aren’t they “too old for group LTD”?

Most group LTD provides a monthly benefit for employees who become disabled near or after they have reached Social Security Retirement Age (SSNRA). The difference is in the duration of this benefit. Because most Traditional Group LTD policies may only provide the minimum number of monthly benefit payments required by the Age Discrimination in Employment Act (“ADEA”), “older” physicians may not be aware there is an alternative.


Current data shows a trend of physicians working longer. Almost half of practicing US physicians are over 55, and over 25% are over 60*. It’s critical that these physicians understand that not all policies use the same duration schedule. The MGIS/Sun Life Physician LTD policy provides at least 6 additional months of LTD benefits for physicians who become disabled at 63 and older, compared to the typical duration found in most traditional group policies.

*Source: the Associate of American Medical Colleges’ 2013 State Physician Workforce Data Book

Bottom Line? For an older physician with a $15,000 monthly benefit, this could mean an additional $90,000 in benefit payments.

Keith Mangrum, Senior Regional Vice President of Sales at MGIS:

“What I like to do is review a census with the birthdates and titles of the members of the group I’m presenting to. This allows me to do an analysis that shows the people who are most affected by this difference in duration, and those people are typically the physicians who have been there the longest … senior partners, the people who are the key decision makers. Doctors entering their 60s are aware of the transition coming up and will understand what this difference means for them.”

Learn more

Download the “Too Old For Group LTD?” guide for a chart showing the difference in protection between the MGIS/Sun Life Physician LTD and Traditional Group Coverage.

The time you take to educate your clients on this point alone can be a deciding factor in their decision to purchase a Physician LTD plan from MGIS/Sun Life.

Group disability insurance policies are underwritten by Sun Life Assurance Company of Canada (Wellesley Hills, MA) in all states, except New York, under Policy Form Series 93P-LH, 07P-LH-PT/07C-LH-PT, 12-STDPort-C-01, 12-GP-01, and 12-DI-C-01. In New York, group life and disability insurance policies are underwritten by Sun Life and Health Insurance Company (U.S.) (Windsor, CT) under Policy Form Series 13-GP-LH-01, 13-LTD-C-01-MGIS, 13-STD-C-01-MGIS, 13-ADD-C-01-MGIS, 13-GP-LF-01, 13-LF-C-01-MGIS, 12-GPPort-01, 13-LFPort-C-01, 13-ADDPort-C-01 and 12-STDPort-C-01. Administration for physician products is provided by Medical Group Insurance Services, Inc. (MGIS), in all states, except as follows: in CA by MGIS Insurance Agency, Inc.; in NY by MGIS Insurance Agency. Product offerings may not be available in all states and may vary depending on state laws and regulations.

The disability policies provide disability income insurance only. They do NOT provide basic hospital, basic medical, or major medical insurance as defined by the New York State Insurance Department.

This coverage does not constitute comprehensive health insurance (often referred to as “major medical coverage”) and does not satisfy the requirement for Minimum Essential Coverage under the Affordable Care Act.

© 2015 Sun Life Assurance Company of Canada, Wellesley Hills, MA 02481. All rights reserved. Sun Life Financial and the globe symbol are registered trademarks of Sun Life Assurance Company of Canada. Visit us at www.sunlife.com/us.

For producer use only.

GGEL-PHY-4902 SLPC 26466 04/15 (exp. 04/17)

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