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GSI Disability Insurance for Residents & Fellows at UAB Medicine

UAB Medicine Guaranteed Standard Issue Disability Insurance Program

Corto Financial is the only group in the country to offer a GSI - Guaranteed Standard Issue own occupation physician specific policy to the Residents and Fellows of UAB Medicine through the offer from Ameritas with up to 20% discounts.  This GSI disability policy offer is not a part of UAB Medicine benefits, nor endorsed by the administration or HR department of UAB Medicine, this special offer is independently offered through a voluntary program set up by Corto Financial and Ameritas for the benefit of the residents and fellows of UAB Medicine. 

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GSI vs. Fully Underwritten Disability Coverage

What Are the Advantages of GSI Coverage?

According to the Milliman 2021 Annual Survey of the U.S. Individual Disability Income Insurance Market, 50% of individual disability insurance policies are either modified (34%) or declined (16%). A GSI plan avoids this and reduces the approval process from a matter of weeks or months to a matter of days. 

There are Several Advantages to GSI Coverage:

  • GSI coverage is typically the most robust disability policy with the most favorable definitions.
  • Most if not all the company’s riders are included or are at least available.
  • There is no medical underwriting. Regardless of prior injuries, medical conditions, or prescriptions, you’re able to get the most robust policy.
  • It’s easy. Simply fill out the application, and you have coverage.
  • It’s often less expensive than any alternative. GSI policies are generally deeply discounted so that males pay less, and females pay substantially less than traditional individual coverage.
Fully Underwritten Disability Policies:

Fully Underwritten Disability Policies:

Disability insurance underwriting is extensive. Underwriters will review your prescription history, driving record, avocations and will typically obtain and review your medical records. An issue in any one of these categories can pose a problem.

Disability insurance medical underwriting is not like the clinical medicine you are practicing. The insurance companies must group you together with similar risks, consider the risk that the condition(s) will impair your ability to practice your specialty, and consider the likelihood for future recurrence/relapse. They do not know who will have a problem in the future, only that someone or many will. This means that many conditions that you have recovered from can and probably will, particularly if within the last five years, be excluded from coverage or result in limited provisions or benefits.

Common Conditions that Result in Exclusions, Ratings, or Declines:

  • Stress, Anxiety, or Depression
  • Build / BMI
  • Chiropractic History
  • Pregnancy
  • Diabetes
  • Cancer History

UAB Medicine GSI - Guaranteed Standard Issue Disability Insurance offer Details:

  • Guaranteed Issue Disability Policy:  No medical underwriting required to be issued a DISCOUNTED physicians specific own occupation policy, you must be currently working the last 90 days and not be declined from another insurance carrier in the last 5 years.
  • Own Occupation – physician specific coverage in your specialty. Definitions matter - Own Occupation for the length of the benefit period. Own Occupation or specialty Own Occupation allows the insured, when totally disabled from their own occupation, to work in another occupation and continue to receive full benefits. Specialty Own Occupation language included for physicians and specialty dentists.
  • Extend Partial/Residual Rider - Enhanced Plus Residual Disability.
  • 15% income loss requirement.
  • During the elimination period, we will waive the loss of income requirement.
  • Return to work incentive, up to 100% income replacement for the first three months, not to exceed the base monthly benefit.
  • Guaranteed minimum of 50% the base monthly benefit for the first six months of payments.
  • The full base monthly benefit is payable if your loss of income reaches 75%.
  • Built-in Recovery Benefit continues to pay a residual benefit up to the maximum benefit period, if you recover and return to your occupation on a full-time basis but continue to experience a loss of income directly due to your previous disability.
  • Up to 20% discount.
  • Up to 15k of coverage with no medical underwriting - Allows you to purchase additional coverage with only financial justification – no medical requirements necessary.
  • Secures the premium rate structure (at attained age), occupational class, discount(s) and contract features of the original policy.
  • Non-cancelable policy which means the insurance carrier cannot cancel this policy and it is portable throughout your career
  • Student Loan Rider optional.
  • Catastrophic Rider optional.

GSI Disability Insurance Programs offered through Corto Financial:

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