Individual disability insurance
Protect the income you trained for.
Disability insurance pays you a monthly benefit if an illness or injury keeps you from practicing. Optometrists in this program may qualify for enhanced underwriting.
The program at a glance
A review built around optometrists.
Standard applications treat every occupation alike. This program gives optometrists enhanced underwriting consideration, with medical reviews focused on approvals.
Policies issued through the program carry a 10% premium discount.
- Protects
- Your personal income
- Underwriting
- Enhanced for optometrists
- Premium discount
- 10% on issued policies
- Available in
- All 50 states
Approval and terms depend on your application. Subject to underwriting.
What to look for
Seven terms that decide what a policy pays.
Two policies with the same monthly benefit can pay out very differently. Ask how each of these works in your quote.
- Own-occupation definition
- With a true own-occupation definition, you can collect benefits if you can't practice optometry, even if you could do other work. Definitions vary, so read this one closely.
- Monthly benefit
- The amount the policy pays each month. Carriers cap it at a share of your income, so it will not replace every dollar.
- Elimination period
- How long you wait after a disability starts before benefits begin. A longer wait usually lowers the premium.
- Benefit period
- How long benefits can last once they start. Many policies pay to a set age, such as 65 or 67.
- Partial benefits
- Pays part of your benefit if you return to work but earn less while you recover. Some policies call this a residual benefit.
- Future increase option
- Lets you raise your coverage later as your income grows, often without new health questions.
- Noncancelable and guaranteed renewable
- Noncancelable means the carrier can't cancel the policy or raise your rate while you pay on time. Guaranteed renewable means it can't cancel, but rates can change for a whole group.
Why it matters
Your skills are your biggest asset.
Your income depends on your eyes, your hands and your health. A disability policy protects that income the way you would protect any other asset.
Own a practice? See overhead coverageStudies cited by the Social Security Administration show a 20-year-old worker has a 1-in-4 chance of becoming disabled before reaching full retirement age.
Source: Social Security Administration, Disability Benefits, Publication No. 05-10029