It’s graduation season and a lot of graduating medical students are wondering if they can purchase an individual disability insurance.

Medical students in their 3rd and 4th year can purchase an individual disabililty insurance policy.

Here are some of the parameters and benefits of purchasing a policy while still in medical school:

• Medical students in their 3rd and 4th year may purchase up to $2500/month benefit. Most companies will allow you to increase your policy up to $20k to $30k/month benefit in the future (depending on the company) without any further medical questions. This is advantageous because you may expenience an adverse change in health in the future and it won’t prohibit you from future purchases.
• Medical students are eligible for student discounts. Once there is a discount on the policy, all future increases are at the discounted rate. This can save you from 10-20% for the life of the policy.
• As a medical student, you are able to purchase a policy at a non surgical specialty rate even if you later pursue a surgical specialty. The policy is issued based on your criteria at the time of purchase. The claim will pay you based on your specialty at the time of claim. This can save you significantly.

For more information about medical student disability insurance or to request an initial quote comparison, contact Set for Life Insurance today!