Have you considered the difference between the AMA policy and non-cancelable coverage?
American Medical Association Disability Coverage
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Individually Owned Coverage (non-cancelable)
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| Can be cancelled anytime by the AMA or the insurance company. |
Guaranteed renewable to age 65, conditionally renewable for lifetime.
Noncancelable by the insurance company as long as premiums are paid on time within the grace period. |
Terminates when you change occupations.
Terminates when you reduce hours to work part-time.
Terminates when you are no longer a member. |
Remains in force when you change jobs or occupations.
Remains in force regardless of the hours you work.
Does not require membership. |
You do not own the policy.
Policy is owned by the AMA or trade association.
You do not choose the policy provisions or quality. |
You own the policy.
You choose the policy provisions and quality level. |
Definition of disability; (most common)
During the first 60 months injury or sickness prevents you from performing the duties of your own occupation.
After 60 months injury or sickness prevents you from performing the duties of any gainful occupation. |
Definition of disability;
Injury or sickness prevents you from performing the duties of your own occupation. |
| Benefits stop if you are able to earn income from some other occupation. |
Benefits continue if you are able to earn income from some other occupation.
Benefits continue if you do earn income from some other occupation. |
Benefits automatically reduced if you collect from;
Workers compensation.
Social security disability.
State disability benefits. |
Benefits not automatically reduced by other sources;
You choose whether or not to integrate with these sources at the time you purchase your policy. |
| Benefits received during disability are tax free. |
Benefits received during disability are tax-free. |
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