Products

BENEFIT IMPROVEMENTS AT A GLANCE Plan Code 9000

For new Disabilities that occur on, or after, November 1, 2015.

  • 100% OF BENEFITS PAYABLE DURING FIRST 12 MONTHS OF TOTAL DISABILITY. Thereafter, benefits will be equal to expenses, subject to the Maximum Monthly Benefit.
  • A MINIMUM 50% OF BENEFITS PAYABLE DURING FIRST 6 MONTHS OF PARTIAL DISABILITY. Thereafter, benefits will be equal to expenses times the % loss of income, up to the Maximum Monthly Benefit.
  • THE MAXIMUM AVAILABLE BENEFIT HAS BEEN INCREASED FROM $20,000 to $30,000 per month. Additional coverage is subject to underwriting approval of good health and financial evidence.
  • NEW CATEGORIES OF INSURED EXPENSES that include the salaries and benefits of employed lawyers and minimum student loan repayments of principal and interest.
  • TERMINATION AGE HAS BEEN INCREASED TO RECOGNIZE THAT NOT EVERYONE RETIRES AT AGE 65. You can now keep coverage up to age 80, subject to full-time employment as of age 71.
  • YOU ARE PRESUMED DISABLED if you lose 2 or more limbs, or suffer a total loss of hearing, sight or speech, even if you are still working.
  • DEFINITION AND CALCULATION OF INSURED EXPENSES RECOGNIZES THE FINANCIAL ARRANGEMENTS OF  MANY LAW FIRMS
    • There is no reduction in benefits if expenses are covered by other lawyers, including associates
    • For total disability only, no reduction for amounts received from the practice (i.e., profit-share) as long as amount does not relate to work performed while disabled
  • IN THE EVENT OF DEATH an amount equal to 3 times the Maximum Monthly Benefit will be payable, and is not based on disability.
  • RECOGNITION OF INCOME SPLITTING with spouses and/or children.
  • NO CAP ON FIRM SIZE. Coverage is available to lawyers in firms of all sizes