IPMSO Long-Term Disability
Offering made possible through Brown and Brown and UNUM
Your Income
A period of disability can make it difficult to meet financial obligations from home mortgage payments to retirement savings and more
What happens to you, your family, and your practice if you or a key partner in the practice cannot work? Are you protected?
We all purchase health insurance for ourselves and our family. What happens if you are out of work for an extended period of time? Lost income can ruin a family and a practice. What happens to your practice when a key producer cannot work? These are critical questions we should ask ourselves.
IPMSO has the solution. Group long-term disability (LTD) can protect you, your family, and your whole practice. Because we are combining this offer under the IPMSO umbrella, rates are well below anything you can get on the open market. The benefits are great and the cost is low.
The medical professionals in your practice have worked hard for many years to establish successful careers. A disabling illness or injury could mean a significant loss of income for any one of them and for your practice.
Disability Insurance helps protect:
Your Practice
A key partner’s disability can seriously decrease revenue for your practice. Our enhanced plan can help protect your practice from the significant financial loss that can occur when a key partner or employee becomes disabled
Your Employees
The right benefit package can help attract and retain top-quality employees, so you can compete with larger practices and hospitals for the best staff
Key Medical Professional Benefits
- No salary continuation plan(s) offset
- 10% additional benefit ($1,000 per month maximum) for claimants who participate in our rehabilitation and return-to-work program1
- No loss of earnings required during the elimination (waiting) period
UNUM Offers Cost Control
Flexible funding options and group rates make coverage affordable. Choose from employer paid, 100% employee-Paid or shared funding options.
Customized For Your Profession
UNUM understands the unique needs of the medical profession. To meet these needs, they offer a variety of definitions of disability, including ones specific to physicians:
“Own Occupation Protection” definition
This particular level of coverage is based on doctors’ abilities to perform the duties of their regular occupation as a physician. If they are unable to perform those duties, UNUM would replace a percentage of their income
“Specialty” definition
This specialty definition of disability is based on doctors’ abilities to perform the specific duties required by the particular type of medicine they practice. For example, UNUM would look at the specific duties required by a cardiac surgeon versus the duties performed by a general practitioner
The “Or” definition
UNUM also has a definition of disability that is geared to employees with varying income streams. Their flexible “or” definition of disability may be the best fit for individuals who rely on trailing income. They understand that such employees may continue to receive compensation after becoming disabled. UNUM’s plans do not require an earnings loss if disabled and not working. In addition, benefit payments may continue even after an individual returns to full-time work if an earnings loss persists
Choose the Benefits That Fit Your Needs
Based on the plan features most sought after by physicians, UNUM offers two packages that can help provide financial protection for employees at any income level.
| Standard Package | Enhanced Package | |
|---|---|---|
| Group Short Term Disability Insurance |
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| Group Long Term Disability Insurance |
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Valuable Services
HR Benefits®/ Answers NowTM
A regularly updated online library of HR compliance and benefits information. Includes federal and state employment laws, sample benefit policies and job descriptions that can be customized for your business.
Work-life balance EAP
Assistance for employees dealing with everyday life issues and more serious problems, such as divorce and alcohol abuse.
Worldwide emergency travel assistance
Support with medical or personal emergencies for employees and their families4 when they travel to a foreign country or 100 or more miles from home.
Additional Options
Severe disability impairment benefit5
Pays an additional benefit if an employee suffers a covered catastrophic disability.
Recovery income protection (standard in ”or” definition of disability)
Provides a benefit when an individual returns to work full time but still has a loss of income due to the prior disability. This is especially important for physicians who may have lost patients while disabled and need time to rebuild their practice.
Infectious and contagious disease benefit6
Provides LTD benefits when an individual first tests positive for an infectious and contagious disease and poses an immediate or potential life-threatening risk to others while performing his or her regular occupation.
1 Not available in CA.
2 Benefits may be subject to pre-existing conditions.
3 Not available in CA, FL or VT.
4 A spouse is not covered if on business for his/her own employer.
5 Severe disability impairment benefit is a description of the filed product offering which appears in the LTD policy as the Disability Plus® rider. Not available in CA.
6 Not available in CA, MT, NY and UT.
How Do I Get More Information?
Learn more about how IPMSO can maximize your revenue stream and lower administrative and operational costs.
