Future Increase Options for Physician Disability Insurance
A future increase rider can let an eligible policyholder apply for additional disability benefits without new medical underwriting. Financial eligibility, other coverage, exercise windows, maximums and pricing rules still apply. Added benefits are not automatically priced at the original issue age.
By Navid Lalezari · Author
Reviewed by Navid Lalezari
Last reviewed
In this guide
What the option can protect
Residents and fellows may buy coverage before reaching attending income. An eligible increase rider can preserve an opportunity to add protection under its terms even if health later changes. The option must actually be included and kept in force; a general brochure is not proof of the right on your policy.
Read next: Buying Disability Insurance During Residency: Age, Premiums, and Future Increases
Sources:[1]
What the option does not freeze
Medical underwriting, risk class and age-based pricing are separate. The Standard’s published specimen illustrates a rider that retains original risk class but prices added benefits at attained age on the option date. It is an example, not the wording of every current state contract. Obtain the rule for your own increase.
Read next: Non-Cancellable vs. Guaranteed Renewable Disability Insurance
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Qualifying for more coverage
Ask which income records and existing employer benefits the insurer considers. A compensation increase does not mean the monthly benefit automatically changes. Review the application window, maximum available amount, and any requirement to accept an offered increase to retain the rider. Submit requested financial information through the insurer’s process.
Sources:[1]
Price the next step before accepting it
Request a breakdown of existing premium, added benefit, new premium, applicable student or resident policy discount, and total payment. Check the effective date and the benefit terms after the increase. Keep the written offer with the original policy so future reviews use documented terms.
Read next: Student Discounts on Disability Insurance: A Guide for Residents and Fellows · From Residency to Attending: Build an Insurance Transition Timeline
Sources:[3]
Common questions
Does a future increase use my original younger age?
Not necessarily. The original coverage can have premium protection while additional coverage is priced using a later attained age. Confirm the pricing rule and any continuing discount in your policy.
Where to go from here
These next steps are educational and have no cost or obligation. They do not start an insurance application or begin coverage.
- Check My Options
Tell Drs Choices what you are weighing and request a conversation about your situation.
- Compare Policies
See how the coverage types and policy terms on this page differ side by side before you decide.
- Start Your Plan
Build a discussion brief from your own numbers. No account or email is required.
Sources
Drs Choices summarizes and compares these sources on this page. Each entry links to the original if you want to verify the wording yourself.
Guardian: Future increase options and medical underwriting
View original source for “Guardian: Future increase options and medical underwriting” (opens in a new tab)The Standard: Platinum Advantage specimen, Benefit Increase Rider, printed page 42
View original source for “The Standard: Platinum Advantage specimen, Benefit Increase Rider, printed page 42” (opens in a new tab)Guardian: Disability insurance pricing factors
View original source for “Guardian: Disability insurance pricing factors” (opens in a new tab)