PKA Insurance Group Inc. and it’s brokers/agents are not affiliated with Morehouse School of Medicine. This is not a group OR employer provided offer/benefit. Guaranteed Standard Issue policies are individual long term disability policies paid for by the insured. This GSI disability policy offer is not a part of Morehouse School of Medicine benefits. This is offered through an individual voluntary program by PKA Insurance Group Inc and Ameritas for the benefit of the residents and fellows of Morehouse. PKA Insurance Group Inc is an independent insurance agency.
The right question to ask about disability income insurance. And the right time to ask it.
You’re probably so busy in your residency or fellowship program that you may not think about what would happen if you were unable to work due to an illness or injury. How would you continue to pay your expenses?
If something did happen you’d be asking, “What now?” Then it would be too late to do anything about it.
The right question is, “What if?” What if an illness or injury prevented you from earning an income? The time to ask that question is now, while you can do something about it.
Ameritas has the answer
DInamic Cornerstone® is disability income insurance which helps replace your income. If you’re unable to work due to an illness or injury, it pays you so you can pay medical bills or other expenses.
Unique Opportunity for Medical Residents and Fellows
Anytime during your residency or fellowship, you can purchase a policy with a Benefit Increase rider – without providing financial documentation or completing a medical exam.
Up to $6,000
Within six months of completing your training, you can increase your coverage, or apply for an initial policy with a Benefit Increase rider. No financial documentation or medical exam required.
Up to $7,500
If you have secured an employment contract and are within six months of your start date, you may qualify for a higher monthly benefit. No medical exam required.
*Maximum benefit amount varies for specialty dental residents.
Up to $15,000
Important features** of your base plan
Definition of Disability
The definition of disability determines whether benefits are payable in any specific instance. With an Own Occupation definition of disability, benefits are paid if you are unable to work in your own occupation due to a sickness or injury, even if you choose to work in another occupation.
Enhanced Plus Residual Disability
Not all disabilities render you totally disabled. Some may allow you to continue working, but on a limited or partial basis—either working fewer hours or performing limited duties. This rider is payable if you suffer a partial disability that results in at least a 15% loss of income. The benefit is proportionate to your loss of income.
Benefit Advancement
If you suffer an injury that does not disable you but requires medical or dental treatment, this feature advances you $500 of your base monthly benefit.
COBRA Premium Benefit
If you lose your employment due to your disability, this feature will reimburse the cost of COBRA premiums (individual or family) up to $1,000 per month for a total of 18 months, so that you can continue your medical insurance.
Good Health Benefit
Reduces the elimination period by two days for each consecutive year you don’t receive monthly disability benefits under your policy. Note, the elimination period will not reduce to less than 30 days.
Benefit Increase Rider
Every three years, you have the opportunity to increase coverage with only financial evidence of insurability. This rider also guarantees the rate structure, occupational class and contract features of the original policy.
Cost of Living Adjustment Rider, 3% Compound Inflation has an adverse effect on buying power, particularly over a long period of time. This rider helps your disability insurance benefits keep pace with inflation.
Add riders** to meet your individual needs
An illness or injury not only can affect your income, it can cost a lot in medical bills. Optional riders offer additional benefits for specific situations. Depending on the plan design of your program, riders may include:
Catastrophic Disability Rider
Severe disabilities may create a need for additional care and/or assistance, resulting in significant expenses. This rider provides an additional monthly benefit if due to your sickness or injury you are unable to perform two of the six activities of daily living (dressing, eating, bathing, transferring, toileting and continence).
Lump Sum Savings Rider
Retirement savings contributions are likely to reduce or even stop during a period of disability. This rider provides additional protection so you can continue saving for retirement.
Student Loan Repayment Rider
You’ve invested a lot of time and hard work into your education. This rider provides an additional benefit to reimburse your student loan payments during a total or partial disability.
**Subject to state availability and variations.
PKA Insurance Group Inc. and it’s brokers/agents are not affiliated with Morehouse School of Medicine. This is not a group OR employer provided offer/benefit. Guaranteed Standard Issue policies are individual policies paid for by the insured. PKA Insurance Group Inc is an independent insurance agency.
Eligibility Requirements
- You must be a Resident or Fellow at Morehouse School of Medicine OR within 6 months of graduating from Morehouse residency or fellowship.
- You must have been actively at work 30 hours/week or more for the last 90 days
- Answer a few health related questions
- Applicants who have previously applied for individual disability insurance in the past 60 months which resulted in a modified offer, rating, or exclusion, or withdrew a pending application for insurance are not eligible for GSI coverage.