The answer is: It depends.

 When it comes to disability insurance, companies will classify the risk and categorize occupations in an occupational class. Riskier occupations will pay more premiums than their less risky counterparts.

 For CRNA Nurse anesthetists, some companies classify CRNAs the same as an anesthesiologist. Other companies put CRNAs in a higher risk class, thereby increasing premiums and reducing the period of own occupation. Therefore, it is critical to work with an experienced broker who is familiar with the companies and can help you determine what will be best in your situation.

CRNA Nurse Anesthetists are familiar with the risks involved when working.  A simple injury or a sickness could prevent a nurse anesthetist to perform their job duties.

What CRNAs should look for in an individual disability insurance policy:

• ·         Own Occupation Definition of Disability. This definition states that if due to sickness or injury you can’t work in your occupation, you will receive your benefits. Additionally, there is no reduction in benefits if you decide to work in another occupation.
• ·         Increase options. This allows you to increase benefits in the future without going through any further medical underwriting.
• ·         Residual Rider. This pays a partial benefit if you have a partial loss of income.
• ·         Discounts. Set for Life Insurance has discounts available nationally for CRNA Nurse Anesthetists. These discounts range from 15-40% depending on your location and gender. If discounts are not yet available at your hospital, we can help you implement them to take advantage of this opportunity.

 For more information about disability insurance for CRNA Nurse Anesthetists, please contact the Set for Life Insurance office today to request a comprehensive quote comparison personalized just for you.

By: PR Newswire

Feb. 10, 2012 09:00 AM

ARLINGTON, Va., Feb. 10, 2012 /PRNewswire/ – Most people are familiar with the saying “life is short,” but it doesn’t seem to be much of a motivator when it comes to life insurance purchases. People often procrastinate because they feel that time is on their side. But a new survey from the nonprofit LIFE Foundation indicates that if people knew that their days were numbered, many would rush to buy life insurance if given the chance. The survey found that just two percent (2%) of adult Americans say they plan to purchase life insurance in the next 30 days. However, if they were told with certainty that they only had 30 more days to live, the number of people who say they would buy in those next 30 days skyrockets to 62 percent.[1]

“The reality that millions of Americans refuse to admit is that it’s never a question of ‘if’ they will die, but ‘when’ that day will come,” said Marvin H. Feldman, CLU, ChFC, president and CEO of the LIFE Foundation. “If you have people who depend on you financially and would suffer when you die, there’s no excuse for not buying life insurance right now, before it’s too late.”

To encourage more Americans to take swift action to protect their loved ones with life insurance, LIFE has enlisted the help of some unlikely advocates for its Insure Your Love national awareness campaign, which takes place in the weeks leading up to and following Valentine’s Day. Fruit flies Frank and Fran are the life insurance industry’s newest power couple. Because of their famously short life spans (they live an average of … you guessed it … 30 days), fruit flies know there’s no time to waste. So when it comes to life insurance, they act right away to protect the ones they love. Frank and Fran deliver their life insurance messages in a series of web videos that can be found on LIFE’s Facebook Fan Page (www.facebook.com/lifehappens.org) and on its www.insureyourlove.org microsite.

“Pardon the pun, but no one understands how quickly time can fly better than actual fruit flies, which is why we felt they would make such great spokespeople for life insurance” said Mr. Feldman. “Our fruit fly characters deliver their messages in a funny way, but there’s nothing funny about dying and leaving your family in a dire financial situation. That’s the very serious message we’re trying to communicate in our humorous videos.”

LIFE conducts the Insure Your Love campaign annually in response to a growing crisis of underinsurance. According to the latest research from LIFE and LIMRA, 70 percent of adult Americans say they personally need more life insurance, but just 36 percent own a policy they purchased on their own. To help encourage people to get the coverage they need to protect their loved ones, LIFE’s fruit-fly videos are presented in the form of “lessons” that challenge common excuses that people cite for not making a life insurance purchase:

Lesson 1: Life is short – Humans have much longer life spans than fruit flies, but do any of us really know how long we’ll live? The truth is, none of us is promised a tomorrow. So if you have loved ones who would suffer financially if you were to die tomorrow, don’t wait another day. Now is the time to purchase life insurance. To figure out how much you might need, check out the life insurance needs calculator on LIFE’s website at www.lifehappens.org/howmuch.

Lesson 2: Don’t procrastinate – Let’s face it. We all procrastinate. It’s human nature. But when it comes to something as important life insurance, fruit flies know better than we humans. They’re born knowing that life is short, so they act fast to protect the ones they love with life insurance. Check out this and other important fruit-fly lessons atwww.insureyourlove.org.

Lesson 3: Don’t gamble with your family’s future – Cost is the most frequently cited reason for not buying life insurance. People say it’s too expensive, but that’s a common misconception. The fact is, life insurance has never been more affordable. The cost for basic term life insurance has fallen by about 50 percent over the past 10 years. When people say it’s too expensive, what they really mean is that they’re prioritizing other purchases over life insurance. If you need life insurance and don’t own any, each day you’re gambling with your family’s financial future. Make today the day you stop being a gambler. For help, contact your benefits manager at work or an insurance agent in your community.

About LIFE

The Life and Health Foundation for Education (LIFE) was founded in 1994 in response to the public’s growing need for information and education on life, health, disability and long-term care insurance.  LIFE also seeks to remind people of the important role insurance professionals perform in helping families, businesses and individuals find the insurance products that best fit their needs.  To learn more about these topics, please visit www.lifehappens.org. For more on Frank and Fran and LIFE’s fruit fly fables, visit www.insureyourlove.org.

[1] The LIFE Foundation survey was conducted by Kelton Researchbetween Jan. 31 and Feb. 6, 2012, and has a margin of error of 3.1 percent.

Set for Life Insurance offers special discounts for physicians, CRNAs, physician assistants, nurse practioners, nurses and other employees who are affiliated with The Reading Hospital and Medical Center. This includes employees affiliated with the University of Pennsylvania Health System (UPHS).

The discounts provide unisex rates as well as an employer sponsored discount.  For women, the discounts are approximately 55% off the identical, non-discounted policy.  For men, the discount translates to 20% off the non-discounted policy.

Policy provisions include:

• ·         Own occupation definition of disability covering you if you can’t work in your medical specialty.
• ·         Permanent discounts that apply to future increases.
• ·         Premiums are guaranteed to age 65.
• ·         A+ Rated company.
• ·         No exclusions or limitations.
• ·         Ability to increase the policy to $15,000/month benefit without further medical underwriting.

For more information about disability insurance discounts at The Reading Hospital and Medical Center,  or to request a personalized quote comparison, please contact the Set for Life office today!

• ·         Roper Hospital
• ·         Bon Secours St. Francis Hospital
• ·         Roper St. Francis Mount Pleasant Hospital

The discounts provide unisex rates as well as an employer sponsored discount. For women, the discounts are approximately 55% off the identical, non-discounted policy. For men, the discount translates to 20% off the non-discounted policy.

Policy provisions include:

• ·         Own occupation definition of disability covering you if you can’t work in your medical specialty.
• ·         Permanent discounts that apply to future increases.
• ·         Premiums are guaranteed to age 65.
• ·         A+ Rated company.
• ·         No exclusions or limitations.
• ·         Ability to increase the policy to $15,000/month benefit without further medical underwriting.

For more information about disability insurance discounts at Roper St. Francis Healthcare, or to request a personalized quote comparison, please contact the Set for Life office today!

The Things We Do for Love

We go to great lengths for our loved ones. We work hard to provide them with a life filled with happiness, comfort and opportunity. In fact, there’s almost nothing we wouldn’t do for our loved ones. We re-arrange our schedules to never miss our kids’ sporting events. We put in extra time at work to save up for that special family vacation. We rush out of the office to make sure we’re home in time for dinner with our loved ones.

But what if you died tomorrow and were no longer around to provide for your family? Without your income and all the other things you do for your loved ones, would they be able to maintain their current lifestyle and keep future plans on track?

That’s where life insurance comes in. It can’t put your family’s life back to how it was, but it can keep your loved ones in the world they’ve always known. So if you think you need life insurance (or more than you currently have), now is the time to do something about it.

A Different Way of Expressing Your Love

Preparing a romantic dinner. Planning a surprise weekend getaway. These expressions of love are sure to be appreciated. But why not consider giving your loved one a more enduring gift of love: life insurance. What can say “I love you” better than a promise to provide for the ones you love, even after you’re gone.

How Much Life Insurance Do You Need to Protect Your Loved Ones?

The LIFE Foundation is the leading source on the Internet for unbiased information about life insurance. Here are some helpful links to help you determine if you need coverage and, if so, how much and what kind you might need.

For more information about Insure Your Love month, visit www.insureyourlove.org. To request a life insurance quote comparison, contact Set for Life Insurance today!

January 30, 2012 11:12 AM Eastern Time 

NEW YORK–(EON: Enhanced Online News)–The economic and societal forces that have transformed the medical profession over the past decade open the door to new approaches to income protection, according to The Guardian Life Insurance Company of America(Guardian), a market leader in individual disability insurance, which announced a new offering today.

“On the other hand, staff doctors and non-physician medical professionals may not need as many bells and whistles on their disability policies, but they don’t want to compromise on the expectation that the coverage will be there when they need it most”

Physicians and other medical professionals have long been aware of the need for this type of coverage – which protects one’s ability to earn an income even if a work-stopping illness or injury strikes – because they witness the lifestyle changes caused by unexpected disabilities every day in their work. Many are also motivated to protect the significant investment they’ve made in their education. But all professionals whose families depend on their income will benefit from the product innovations just launched by Guardian.

“The changes we’ve observed in the marketplace, reinforced by what we’ve been hearing in focus groups across the country, confirm that one size doesn’t fit all,” said Gordon Dinsmore, President of Berkshire Life Insurance Company of America, the Guardian company that issues its individual disability insurance policy.

“Just as there is no longer one path to practice medicine, in the 21^st century, no matter what profession you’re in, there should be multiple ways to secure this important protection – ways that take price into account – without compromising the quality of the coverage,” he added. “We are confident that Guardian now has the broadest disability insurance product portfolio in the industry.”

Changing Landscape for Medical Providers

While demand for medical services in the U.S. continues to increase due to the aging population, the face of who is providing that care – and how it is delivered – is changing rapidly. The high cost of electronic health records, downward pressure on medical reimbursement and soaring levels of medical-school debt mean that many doctors are opting to join hospital staffs and large medical practices as salaried employees, rather than opening their own practices. At the same time, growing numbers of female physicians –50% of medical school students are women, compared to just one-third 30 years ago – as well as the recent influx of Gen X doctorsinto the marketplace has underscored the priority on work-life balance.

All of these trends have brought on yet another significant change: the expanding role of non-physician professionals such as physician assistants and nurse practitioners in providing more and more medical services. The U.S. Department of Labor projects that jobs within this category of skilled mid-level providers will grow 20-50% by 2018.

Having monitored these market developments over the past several years and verified their impact on income protection requirements through national research, Guardian has increased the breadth of its flagship ProVider Plus individual disability insurance portfolio to accommodate the total needs spectrum.

“Solo medical practitioners are essentially small business owners, operating on a high risk/high reward basis. They have significant earnings potential but are likely highly leveraged in their practices, and should therefore have top-tier income protection coverage in place,” explained Dinsmore.

“On the other hand, staff doctors and non-physician medical professionals may not need as many bells and whistles on their disability policies, but they don’t want to compromise on the expectation that the coverage will be there when they need it most,” he added. “Now, thanks to Guardian, they don’t have to.”

Aligning to Price Sensitivity While Maintaining Value

To better serve this value-focused segment of the medical market – as well as those individuals in other professions for whom affordability is a concern – Guardian has introduced ProVider Plus Limited, an individual disability insurance policy built on Guardian’s well-known core contract. With package-exclusive configurations and a host of optional riders, policy owners are able to customize coverage to fit their income-protection needs, while not having to pay for features their situations don’t require.

At the same time, Guardian has strengthened its traditional ProVider Plus individual disability insurance policy by introducing a patent-pending Lump Sum Disability Benefit Rider, an option not available anywhere else that is designed to provide benefits after the policy expires (at age 65 or 67), a time when the full impact of even a brief disability during one’s working years can make itself felt as retirement begins.

How does it work? Guardian’s exclusive rider pays a one-time, lump-sum benefit equal to 35% of all disability benefits paid over the lifetime of a policy. Policy owners don’t need to even be disabled at the end of their contracts in order to qualify for this benefit. So, a 47 year-old professional who is in a serious accident requiring multiple surgeries and extensive physical therapy, who returns to work after two years and remains healthy until his or her retirement, will still receive this additional payment when the policy expires at age 65 (or 67), as long as it remains active until that time.

Finally, Guardian has enhanced the flexibility of both its ProVider Plus and ProVider Plus Limited offerings by giving consumers the option of selecting a true own-occupation or modified own-occupation definition of total disability for either product – enabling an unprecedented level of coverage customization.

“Everyone’s personal and professional circumstances are unique, and the disability insurance they obtain to protect their ability to earn an income should be tailored to their needs, not the needs of the doctor or lawyer across the hall,” explained Dinsmore.

About Guardian

A mutual insurer founded in 1860, The Guardian Life Insurance Company of America and its subsidiaries are committed to protecting individuals, business owners and their employees with life, disability income and dental insurance products, and offer 401(k), annuities and other financial products. Guardian operates one of the largest dental networks in the United States, and protects more than six million employees and their families at 115,000 companies. The company has approximately 5,000 employees in the United States and a network of over 3,000 financial representatives in more than 80 agencies nationwide.

 That’s where disability insurance comes in. Disability insurance is designed to pay a monthly benefit in the event you become too sick or injured to work.

There are several reasons why CRNAs should consider purchasing an individual disability insurance policy:

• CRNAs often work as 1099 employees and are not offered group disability insurance. Therefore, they must purchase their own individual disability insurance.
• CRNAs are required to perform a lot of technical and physical duties. Becoming too sick or injured to perform these duties can happen relatively easily.
• As a CRNA, you may carry a lot of student loans which are not forgiven in the event of a disability.
• CRNAs have a great earning potential which could be protected with adequate individual disability insurance coverage.

What CRNAs should look for in an individual disability insurance policy:

•  Own Occupation Definition of Disability. This definition states that if due to sickness or injury you can’t work in your occupation, you will receive your benefits. Additionally, there is no reduction in benefits if you decide to work in another occupation.
• Increase options. This allows you to increase benefits in the future without going through any further medical underwriting.
• Residual Rider. This pays a partial benefit if you have a partial loss of income.
• Discounts. Set for Life Insurance has discounts available nationally for CRNA Nurse Anesthetists. These discounts range from 15-40% depending on your location and gender.

If you are a graduating CRNA or are in your first 180 days of working, you may qualify for up to $4000/month benefit without proof of income.

 For more information about disability insurance for CRNA Nurse Anesthetists, please contact the Set for Life Insurance office today to request a comprehensive quote comparison personalized just for you.

 The upgrades to the effected medical and dental occupational classes can reduce premium costs and increase participation limits.  (MetLife has not raised their issue limits on disability insurance with this upgrade.)  MetLife created a new top tier medical occupational class “6M,” which offers selected medical professionals rates below “6S.”

 Medical Occupational class upgrades include:

 Occupation                                          Prior class                               New Classion Previous Class New Class

Pediatricians                                         5S                                            6M

Oncologists                                          5S                                            6M

Neurologists                                         5S                                            6M

Physical Medicine/                                5S                                            6M

Rehabilitation MD’s                               5S                                            6M

Dental Specialists                                    5D                                            5S

Physician’s Assistants                           4M                                            5I

 These upgrades will reduce rates for the medical professionals by an average of 27%, and for the physician’s assistants by 12%.

Also, MetLife reduced the income requirements for executives to be eligible for the top occupational class “6S.”

Previously, the main difference between the 5A and a 6S executive occupational class was the annual earned income. The “5A” occupational class for executives included those with income between $80,000 and $100,000, and “6S” was for those with greater than $100,000 annual earned income.

MetLife’s upgrade lowers the annual earned income requirement for executives to qualify for “6S” to $80,000. This will allow more executives to qualify for MetLife’s top occupational class, which will reduce premium rates by 26% on average.

 Please feel free to contact Set for Life insurance to discuss MetLife’s upgrades, or to request a disability insurance quote comparison.

These special discounts are available for physicians, medical residents, dentists, medical fellows, dental students, dental residents, CRNAs, physician assistants, nurses and employees who are affiliated with New York University (NYU) Medical Center. These affiliates include:

• ·         Bellevue Hospital Center
• ·         NYU Langone Medical Center
• ·         Tisch Hospital
• ·         NYU Hospital for Joint Diseases
• ·         Lenox Hill Hospital
• ·         Woodhull Hospital Medical Center

The discounts provide unisex rates as well as an employer sponsored discount. For women, the discounts are approximately 55% off the identical, non-discounted policy. For men, the discount translates to 20% off the non-discounted policy. The discounts are parmanent and apply to all future purchases.

Policy provisions include:

• ·         Own occupation definition of disability covering you if you can’t work in your medical specialty.
• ·         Permanent discounts that apply to future increases.
• ·         Premiums are guaranteed to age 65.
• ·         A+ Rated company.
• ·         No exclusions or limitations.
• ·         Ability to increase the policy to $15,000/month benefit without further medical underwriting.

To qualify for the discounts, applications need to be submitted through Set for Life while currently employed at NYU Medical Center or an affiliated hospital.

For more information about disability insurance discounts at New York University (NYU) Medical Center or to request a personalized quote comparison, please contact the Set for Life office today!