What to do before you apply for Disability Insurance

IMPORTANT INFORMATION TO KNOW BEFORE YOU APPLY for DISABILITY INSURANCE: 

• DO not apply with any carrier if you have ANY medical issues, taking medication or have any type of diagnosis.
  ALWAYS apply with a GSI policy FIRST and then apply to the other 4 carriers based on your future income.   
  
• You cannot apply using the GSI if ANY insurance company rates, excludes, modifies or declines you, you will have to wait 5 years from application date to be eligible to use the GSI so ALWAYS apply witht the GSI company first. 

• Medical Medicine and Insurance medicine are like comparing apples and oranges. An insurance company is looking for any additional risk they may have to pay out in a claim, ANY medical diagnosis, or ANY medication will affect that final determination. 

• We cannot stress enough how vital it is to apply using a GSI before you attempt a fully underwritten disability application policy.  
  
• 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

If you have any questions, feel free to reach out to Frank Corto at 717-747-0000 or fcorto@cortofinancial.com