Individual disability insurance
Protect the income you trained for.
Disability insurance can pay you a monthly benefit if an illness or injury keeps you from working. Optometrists in this program get preferred pricing.
The program at a glance
Preferred pricing for optometrists.
As an optometrist in this program, you get preferred pricing on individual disability coverage.
Your rate is still subject to underwriting, and policy terms can vary by state.
- Protects
- Your personal income
- Pricing
- Preferred for optometrists
- Available in
- All 50 states
Approval and terms depend on your application. Your agent confirms what your policy includes. Policies include exclusions and limitations. Subject to underwriting.
What to look for
Seven terms to ask your agent about.
Two policies with the same monthly benefit can pay out very differently. Not every policy includes all seven, so ask your agent which ones yours has.
- Own-occupation definition
- With a true own-occupation definition, a policy can pay if you can't work in your own occupation, even if you could do other work. Definitions vary, so read this one closely.
- Monthly benefit
- The amount the policy pays each month. Insurance companies 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.
- Noncancelable and guaranteed renewable
- Noncancelable means the insurance company 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
Why optometrists need disability insurance.
Your income depends on being able to see patients. A disability policy protects that income the way you would protect any other asset.
Studies 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
Optional add-on
Own a practice? Add overhead coverage.
Business overhead expense coverage is an optional add-on for practice owners. It helps pay fixed practice costs like rent, payroll and leases if you can't work due to illness or injury.
Explore overhead coverage- Office rent
- Staff salaries
- Equipment leases
- Utilities
Your agent confirms what your policy includes. Policies include exclusions and limitations. Subject to underwriting.