How To Obtain Disability Income Insurance

Posted by on Nov 8, 2023 10:54:00 AM

The process to get individual disability income insurance may be easier than you think. The amount of disability coverage available to each person depends on type and level of training. 

Many insurance companies have special limits available to those in school or residency programs without proof of income. Dentists who are in private practice are typically required to show proof of income. 

But what is the process, and how hard is it to get? 


Steps for Obtaining a Disability Income Insurance Policy

First, you need to select coverage. Review your options with a qualified advisor.  Once the insurance company, coverage amount, and coverage features are selected, it is time to apply for coverage.  

Keep in mind that when you sign and submit an application, you have no obligation to purchase a policy. You are simply asking the insurance company to review your application and determine if they are able to offer you coverage. 

Disability Income Insurance Application Steps

Here are the application steps:

1. Complete the Online Application 

First, complete an online application with an advisor. This typically takes about 15-20 minutes. You will need to answer a few identifying questions like date of birth and address. In addition, you may need to answer other questions such as questions about your occupation, employer, income, health, and more. Once completed, you will electronically sign the application.

2. Provide Your Personal Health History

Next, you will complete a personal health history either online or via a phone interview with a representative from the insurance company. This may take 15-20 minutes and can be scheduled at your convenience.

Do you need lab work? At one point in time, a blood draw and urinalysis were needed for most disability income insurance applications. Today, that is not the case and is dependent on the amount of coverage for which you are applying and your age. Of course, if after reviewing your medical history, the insurance company deems it to be necessary, they can request blood work. If you need lab work, a paramedical service will schedule a time to come to your home or office to complete the labs at your convenience and at the insurance company's expense.

It is important to note that most students and residents typically are not required to complete labs to get approved for coverage.  

3. Review of Your Medical Records 

The insurance company may want to review your medical records to clarify your health history and treatment. Insurance companies are now using electronic medical record systems which has reduced the turnaround time for obtaining doctor’s records. Once you electronically approve the carrier to obtain your records (via email), they may often receive the records in as little as 24 hours.

4. Coverage Approval Notification

The insurance company notifies your advisor when coverage is approved.  This is the time to review the approval with your advisor and determine how you want the policy to be issued. Often, coverage is placed in force just like you originally applied. 

However, if you determine you would like to change the amount of coverage, change the features, or even close your application and not purchase coverage, this can easily be done at this time.

Discounted Disability Income Insurance for Students and Residents 

You may have heard that companies offer discounts to those individuals who purchase their coverage while they are a student or resident. Purchasing coverage while under the auspices of your training program may result in significant premium savings over the course of your career. Further, potential changes in your health could affect your ability to obtain coverage. For these reasons and more, we suggest that you review your options as soon as possible. For more information, you can schedule a time to speak with a Trealoar & Heisel advisor.


Our Experience In Obtaining Comprehensive Disability Income Insurance For Dental Professionals 

At Treloar & Heisel, we process thousands of disability income insurance applications for dental and medical professionals each year.  The average time that passes from the day your application is submitted to when you pay for your policy is consistently under 60 days. Often, coverage can be approved within a week.  The process has never been easier or more convenient to apply for coverage.

For more information, Download Our Disability Income Insurance Guide.

About Treloar & Heisel

Treloar & Heisel, an EPIC Company, is a premier financial services provider to dental and medical professionals across the country. We assist thousands of clients from residency to practice and through retirement with a comprehensive suite of financial services, custom-tailored advice, and a strong national network focused on delivering the highest level of service. 


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