The Guaranteed Standard Issue Program (GSI) Disability Insurance Program offered is a valuable program that provides income protection for residents and fellows without requiring medical underwriting. This means that individuals with pre-existing medical conditions can obtain coverage up to $7,500 of monthly benefit (graduating residents and fellows) or up to $5000/month for all other residents and fellows, without undergoing the traditional medical underwriting process. There are no medical questions asked. The policy is a personally-owned individual disability insurance policy that is portable, meaning you may take it with you throughout your career. You will have the ability to increase it up to $15,000/month in the future without any medical questions.
Please note that if you apply for an individual policy elsewhere and are rated or declined, the GSI offer is no longer available to you. It is critical that you apply for the GSI FIRST before applying elsewhere.
One of the most important aspects of the GSI program is that it provides True Own Occupation coverage, which means that policyholders are considered disabled if they are unable to perform the duties of their own occupation, including their medical specialty even if they can work in another specialty or occupation. There is additional specific surgical specialty language included as well.
The GSI program also offers a range of optional riders, including the Future Increase Option Rider, the Residual and Recovery Benefit Option, the Enhanced Partial Benefit Rider, and the Catastrophic Benefit Rider. These riders allow policyholders to customize their coverage to meet their specific needs and circumstances.
If you are a graduating resident or fellow, you must submit your application prior to graduation to qualify for benefits.
For more information, contact Set for Life Insurance today for a quote!