Mayo Clinic Disability Insurance
Sep 10, 2023
Jamie Fleischner

Jamie Fleischner

10 Sep, 2023

Mayo Clinic Disability Insurance

Disability insurance is a critical component of financial planning for medical residents, physicians, executives and employees offering financial protection in case an unforeseen disability.

Guaranteed Standard Issue (GSI) Policies for Mayo Clinic Medical Residents

One of the standout features of Mayo Clinic disability insurance is the Guaranteed Standard Issue (GSI) policies available to medical residents. GSI policies are designed to simplify the application process by offering coverage without requiring extensive medical underwriting.

  • Graduating medical residents may purchase up to $7500/month benefit with $7500/month increase options.
  • All medical residents may purchase up to $5000/month benefit with up to $10,000/month increase options.
  • Policies are own occupation, covering you in your medical specialty. Extra surgical specialty language is included.
  • Policies include the residual rider, cost of living rider and language that the premiums will not be increased in the future.
  • Applications do not require any medical questions.
  • If you have already applied for disability insurance and were rated or denied, you may NOT be able to purchase a GSI policy. As such, it is important that your purchase your GSI first.
  • GSI policies are available to medical residents up until September 30th of their graduation year.
  • For more information about Mayo Clinic GSI Disability Insurance or to apply today, go to https://www.disabilityquotes.com/mayo-jf

Existing Insurance Coverage

Employees of Mayo Clinic are offered a group policy while they are employed. It is important to review the terms of the policy to ensure it is adequate to your needs.Most high income physicians and employees choose to supplement a group policy with an individual policy to bridge the gap and to have the flexibility and portability of  an individual policy if they leave their employer in the future.

Consulting Set for Life Insurance

Navigating the intricacies of disability insurance can be challenging and confusing. Set for Life Insurance has specialized in working with medical professionals since 1993 and can provide invaluable guidance when choosing the right disability insurance coverage. As independent brokers, they can help you assess your existing policies, identify any gaps in coverage, and tailor a plan that aligns with your unique circumstances and future goals. Their expertise ensures that you make informed decisions to safeguard your financial future effectively. Set for Life Insurance has been featured in multiple publications including The White Coat Investor and KevinMD.

Mayo Clinic’s disability insurance offerings, including the Guaranteed Standard Issue (GSI) policies and portability options, are valuable resources for medical residents seeking financial protection during their medical careers. However, it’s essential to consider existing insurance coverage and consult with experts like Set for Life Insurance to ensure that your disability insurance plan aligns with your needs and goals. By taking a proactive approach to disability insurance, medical residents can secure their financial well-being and focus on their medical practice with peace of mind.

Request a quote comparison here!

 

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