AMA Disability Insurance – 5 Things You Should Know*

Chances are you have received mailings from DisabilityPro. DisabilityPro is a marketing name for the AMA sponsored group disability insurance policy underwritten by New York Life Insurance Company. The initial rates are attractive, but do you know the terms of coverage?

Contact us today to learn more about your disability plan options, including a personalized quote comparison.

1. The AMA sponsored policy does not contain premium and coverage guarantees. 

Premiums increase with age, the entire premium schedule can be changed at renewal, and the policy can be cancelled or changed without your consent. The policies we represent have guaranteed level premiums and cannot be cancelled or changed by the company as long as the premium is paid.

2. The AMA sponsored policy does not provide “true own occupation” protection.

If you choose to work in another occupation while disabled, your benefit can be reduced or eliminated, since you would be considered partially/residually disabled. The policies we represent pay the full benefit regardless of the income you receive from a new occupation.

3. The AMA sponsored policy does not pay any benefits for partial disabilities until you receive benefits for total disability first. 

Statistically, the majority of disabilities begin as partial disability claims (a 15-20% loss of income while working). The policies we represent will begin paying benefits for partial disability before you become totally disabled.

4. The AMA sponsored policy does not allow you to satisfy the waiting period while partially disabled or with non-consecutive days of disability.

The policies we represent allow you to satisfy the waiting period while you are partially disabled and within a non-consecutive number of days. This makes it a lot easier to qualify for benefits since many disabling conditions do not progress within consecutive days, and start off with a partial loss of income while working.

5. The AMA sponsored policy does not pay recovery benefits.

Your income may not recover at the same time you do. You may have lost partnership, or patient volume that supported your income. The policies we represent can continue paying you a benefit if you still suffer an income loss after you recover from a disability.

*This post is not intended to be complete or to provide information on all contract provisions. Refer to the actual insurance policies for additional information. The information used for this post was gathered from AMA Insure’s website.