Disability insurance provides a monthly income in the event you become completely disabled as the result of a covered accident or illness (including pregnancy). Since most of your expenses will continue during a time of disability, it is vitally important that you have a plan in place that can help you cover those commitments.
Features That Work for You:
- Up to $10,000 of Monthly Disability Coverage*
- Fast Underwriting— Most Applications Approved or Declined Within 2-3 Weeks
- Special Group Rates For Members of the AOA
- No Medical Exam Typically Required to Apply**
- No Annual Policy Fee
- Own Occupation Definition of Disability
- Your Choice of Maximum Payment Period and Elimination Period
- Optional COLA and Critical Disability Benefits
- Residual Disability Benefit
- Waiver of Premium and Waiver of Elimination Period Benefits
About Guardian Insurance Company
Founded in 1860, The Guardian Life Insurance Company of America, New York, NY (Guardian) is one of the largest mutual life insurance companies in the United States. As of December 31, 2014, Guardian and its subsidiaries had $81.1 billion in assets (on a consolidated statutory basis). With more than 8,000 employees and financial representatives, as well as more than 80 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses and their employees with life, disability, health, long-term care, and dental insurance products, and offer 401(k), annuities and other financial products and trust services. For more information about Guardian visit: www.GuardianLife.com.
This plan offers competitive group rates where you are also protected from individual rate increases. Your premium will only increase when you enter a new age-rating category or if rates increase for all participants in the group.
Most people don’t realize their chances of becoming disabled are greater than they think.
The Council for Disability Awareness provides a useful website to assist the American public with disability stats, info, and more. The CDA is a non-profit organization committed to informing and educating the American public about the widespread and growing frequency of disability, as well as the financial impact it can have, provides.
In order to participate in the group plan, you must first be a licensed physician and member of the AOA.
You must be actively engaged in the practice of your regular occupation, working at least 30 hours per week in that occupation, and an active member of a participating association. Your eligibility is also subject to review based on the information and the medical history provided on your application and, if necessary, by your attending a physician or other medical sources. Other evidence of insurability may also be required.
We strive to make the application process as quick and easy as possible. That’s why we make it easy to Apply Online.
No physical/paramed exam is typically required by Guardian to apply. If necessary, you may be required to provide more detailed information about specific medical conditions and/or medical records may be ordered from your attending physicians at no cost to you. For monthly benefit amounts greater than $100, acceptance into the plan is not guaranteed and may be subject to evidence of insurability as determined by Guardian.
The monthly disability benefit amount that you select in this plan cannot be more than 60 percent of your monthly insured earnings. To estimate this amount, divide your estimated annual earned income by 12 and multiply by .60. Current additional underwriting limits may apply. At the time of claim, your combined group disability coverage cannot exceed 60 percent of your monthly insured earnings.
This plan works very well as a supplement to Individual Disability Insurance. If you already own an Individual Disability Insurance Policy, your combined individual and group monthly disability benefits cannot exceed 100 percent of your monthly insured earnings.
This plan’s definition of “disabled” is specific to your own occupation.
A member is considered disabled if he or she has physical, mental, or emotional limits caused by a current sickness or injury and, due to these limits, he or she is: (a) not able to perform, on a full-time basis, the major duties of his or her own occupation: and (b) not able to earn more than this plan’s maximum allowed income earned during disability.
This own occupation definition remains in effect for your full benefit period.
You may choose the maximum payment period, elimination period, and monthly benefit amount that best meets your unique needs. These features help you manage and control the cost of your benefit plan.
The maximum payment period (also commonly referred to as the “benefit period”) is the maximum period of time for which benefits are paid by this plan.
The elimination period (also commonly referred to as the “waiting period”) is the period of time you must be disabled due to a covered disability before this plan’s benefits are payable.
The monthly disability benefit amount is the amount that you choose and Guardian approves as your maximum monthly disability benefit in this plan. This amount cannot be more than 60 percent of your monthly insured earnings. Current additional underwriting limits may apply. At the time of claim, your combined group monthly disability benefits cannot exceed 60 percent of your monthly insured earnings. If you already own an Individual Disability Policy, your combined individual and group monthly disability benefits cannot exceed one-hundred percent of your monthly insured earnings.
Available Monthly Disability Benefit Amounts: $100, $500, $750, $1000, $1250, $1500, $2000, $2500, $3000, $3500, $4000, $4500, $5000, $5500, $6000, $6500, $7000, $7500, $8000, $8500, $9000, $9500, $10000.
Available Maximum Payment Periods: To age 65, 5 Years, 2 Years
Available Elimination Periods: 90 Days, 180 Days, 360 Days
You may choose to add a Cost of Living Adjustment (COLA) and Critical Disability Supplement (CDS) benefits to your plan. The cost for adding these optional benefits are 14 percent of your base premium.
COLA – We apply a cost of living adjustment to your monthly benefit each year while you are disabled. This allows your monthly benefit to change in accordance with inflation. The cost of living factor equals the lesser of: (a) one-half of the CPI-W from the prior December; and (b) 3 percent.
CDS – Critical Disability Supplement pays an additional benefit if you have a functional disability, meaning that, due to sickness or injury, you are: (a) not able to perform two or more activities of daily living on a routine basis, without at least standby help; or (b) cognitively impaired and needs constant verbal cueing to protect himself or herself or others. If you meet the conditions of the policy, we pay 10 percent of your insured earnings up to a monthly maximum of $5,000.00. may be treated as a recurring disability. If the later disability is a recurring disability, you will not need to complete a new elimination period before becoming entitled to benefits.
Allows you to rebuild your income to its pre-disability level as you return to full-time work. During the first 12 months you return to work, your combined gross monthly benefit and current part-time earnings while disabled can be as much as one-hundred percent of your pre-disability earnings.
This coverage includes an elective rehabilitation program. While you participate in a rehabilitation program approved by Guardian, you are entitled to receive 110 percent of the monthly benefit otherwise payable to you. Additional consideration can be given to ancillary expenses, such as childcare costs, which are incurred to allow you to participate in the rehabilitation.
If you become disabled and satisfy the elimination period, we will waive premiums which become due during any continuing period of disability for which you are receiving benefits.
Your benefits in this plan will end when you cease to be disabled. In the event that you suffer a later disability, the disability may be treated as a recurring disability. If the later disability is a recurring disability, you will not need to complete a new elimination period before becoming entitled to benefits.
Disabilities due to mental and nervous disorders, and alcohol or drug abuse, are covered under this plan for a lifetime maximum of two years.
This policy does not cover disabilities or losses caused by, contributed to, or resulting from:
- War, any act of war, or military service
- Suicide, attempted suicide, or intentionally self-inflicted injury
- Service in the armed forces
- Participation in a riot or other civil disorder
- Participation in an unlawful occupation
- Also, no benefits are payable for any period of disability during which you are not receiving the regular care and treatment of a doctor other than yourself.
No physical exam is typically required to apply, however, Guardian may request a completed physical exam and/or doctor’s records to determine insurability. For monthly benefit amounts greater than $100, acceptance into the plan is not guaranteed and is subject to evidence of insurability as determined by Guardian.
If your application is approved by Guardian, and you have made your initial premium payment, you will receive your new certificate of coverage. Be sure that you understand all of your rights and benefits under the plan. If you are not completely satisfied, for any reason, return the certificate of coverage within 30 days of receipt and your premium will be fully refunded, no questions asked.
Paying the premium applicable for your particular age automatically renews this coverage. Coverage will end only if (1) you do not pay this premium: (2) you retire: (3) you cease to be actively engaged full-time in your profession: (4) you cease to be a member of a participating association: (5) the group policy ends. Otherwise, coverage is renewable to any age.
* Income and underwriting limits still apply.
** No medical exam is typically required to apply, however, Guardian reserves the right to request a completed exam and/or doctor’s records to determine insurability.
This policy provides disability income insurance only. It does not provide “basic hospital”, “basic medical”, or “major medical” insurance as defined by the New York State Insurance Department. North Carolina Residents: THIS IS NOT A MEDICARE SUPPLEMENT Plan. If you are eligible for Medicare, review the Guide to Health Insurance for People with Medicare, which is available from the company. This policy provides disability income insurance only. Products not available in all states and are only valid for distribution in the United States.(This website is for illustration purposes only. For complete policy terms, consult your policy G-00458022) Copyright© 2010-2015, Business Planning Concepts, Inc dba Member Benefits. All rights reserved.