5 Reasons Platinum Advantage Is So Good for Residents

January 25, 2019
Image of a doctor sitting with a laptop

Interested in expanding your IDI sales to medical residents? These future high earners are often aware of the need to protect their incomes. But they may be too busy to look for coverage. With Platinum Advantage, you can make it easy and compelling. Offer a discount, plus coverage tailored to fit them now and grow later. Check out five advantages for residents:

1. Open doors with a 10 percent residency multi-life discount. This feature can help you establish valuable relationships and ongoing sales. Most hospitals and university medical centers accredited by ACGME, AOA or CODA can establish a discount program with The Standard. Residents can qualify for a 10 percent discount if we receive at least three applications within a six-month period.

Want help spotting prospects? Explore the list of approved institutions to find which programs already qualify for a 10 percent discount. Or check with your General Agent to see if one near you qualifies.

2. Skip the 75% coverage rule. With Platinum Advantage, you can offer residents an affordable policy now, with access to higher benefits later. The policy includes our Benefit Increase Rider. Typically, to qualify for the BIR, most applicants must accept 75 percent or more of the base coverage they're eligible to purchase. But physician residents and fellows can start with as low as a $1,000 monthly benefit and still be eligible for the BIR. Just make sure they apply with The Standard's TeleApp process.

3. Offer protection for student loan payments. Lighten residents' worries with the Student Loan Rider. Explain how it can help cover student loan payments if they become too sick or injured to work. The rider is available for 10- and 15-year terms and reimburses up to $2,500 per month, based on their loan payments. To keep premium costs low, residents can select a benefit that's less than their loan payments. The extra income support can still help them stay on track.

4. Provide more peace of mind with MDSA and Own Occ. Platinum Advantage offers unlimited mental disorder and substance abuse coverage for higher occupation classes, including physicians and surgeons. Be sure to point that out to the residents you talk to. The base policy provides benefits up to the maximum benefit period when a mental disorder or substance abuse causes or contributes to a disability.

Plus, residents can add the Own Occupation Rider. It offers the strongest definition in the industry for medical professionals who can't perform the duties of their regular occupation due to a disability.

5. Pay it all off with The Standard's track record. Since residents are looking ahead to long careers, they'll want a carrier who can go the distance with them. Reassure your clients with The Standard's financial strength and disability expertise. With Platinum Advantage, your clients can feel good about this big decision.

Start conversations. Introduce residents to the need for income protection with this flyer. Then use our Consumer Brochure to show them why Platinum Advantage stands out.

 

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Product Details / Platinum Advantage