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Buying disability insurance can be confusing—especially as a physician. With all the different levels of experience, specialties and more it’s easy to get overwhelmed by all the options. 

But when you have a clear overview, your confusion fades and you get confidence that lets you make a great decision for yourself and your family.

If you’re in a non-surgical specialty and want to discover what disability coverage is right for you, this episode is for you. 

To simplify this, I’ll reveal a free spreadsheet to you navigate the various coverage options available so you can make the most informed decision. 

In this episode, I’m going to walk you through how to read this spreadsheet to help you build even more confidence when choosing disability coverage. 

You’ll also find out why I only endorse 4 out of the 70 companies that sell coverage and why it’s vital no have “no moving parts” when choosing a package. 

Listen now!

  • The most common question about the disability coverage spreadsheet (and the answer that removes your confusion) (1:20)
  • The only 4 companies you should trust for your coverage (and how to spot suboptimal policies) (4:52)
  • Why “non-cancellable” and “guaranteed renewable” should be in every disability policy you take on. (5:37)
  • Discover how to pay for your coverage if you don’t have $5,000 for premiums (6:53)

To ask questions on insurance coverage or to get a quote, please don’t hesitate to call us anytime at 704-270-2376, and I’d be glad to discuss your specific situation with you.

Read Full Transcript

Hi, I'm Billy Gwaltney and this is the CYA podcast. This show is for the physician who understands the importance of protecting everything you've worked so hard to achieve. Each week I'll bring you tips and advice to help you cut through the clutter and misinformation and show you exactly what you need to preserve your income and way of life. If you're ready to achieve the peace of mind that only financial security can bring, let's get started.

(00:28): Welcome to today's episode of the cover, your assets podcast. This is Billy Walt, me, and as always, I'm really happy to be with you today. In this episode, we're gonna cover my initial conversation, a nonsurgical specialty. So it could be a pediatrician, could be hospitalists and oncologist, any number of specialties that generally are, are not invasive from a procedure standpoint. And so the time is spent in clinic and kind of moving around and, and making valuations and so forth. And so we're gonna make a few assumptions here, which I wanna make clear. One is that you're still in training the other, it could be residency or fellowship. The other assumption is that you have received, requested and received a spreadsheet from me that shows the discounted rates with the top C companies. And you're at the point of kind of wanting to understand more of what you're looking at.

(01:28): What are the terms, what are, what does it all mean? You may have some idea of what it means. You may have done some research, read a blog, done a Google search, or talked to a colleague, but you're kind of at the point of wanting to hear it for yourself and how this translates to what kind of you should have. And so generally when I'm on a phone call with a trainee who again is a non-surgeons, I start by saying, okay, tell me, what are your key questions? I'd love to, to answer those in as much detail as you'd like, and then just see where we go from there. And the most common question I get when ask that is, can you walk me through the spreadsheet? What does it all mean? And so the purpose of this episode is not to replace that individual conversation with you, but to give you at least an option to start learning more about what these terms mean, maybe during some downtime on a night shift or, or just some off the grid time when you're thinking to begin that process of exploring maybe a dreaded process, but hopefully it won't be too dreadful.

(02:32): So again, I would be happy to answer additional questions I'm gonna go through. We're gonna assume that you have the spreadsheet in front of you. And what I kind of do is just start from the top and walk my way through. Okay. And, and I'll, this is about a 25 to 30 minute conversation. Okay. Just to give you an idea, I start out with a quick background of who I am my specialty, I guess you could say is disability coverage. I say that because it's what I do morning, noon and night, for some reason, I love it. I'm not sure exactly why, but I do. I work with close to 2000 physicians across the country. I would say the vast majority of those are trainees when we start working with them and they move everywhere. You ladies and gentlemen move all over the world.

(03:14): We have clients in Australia, Asia, Europe south America, obviously the states and so all over the place. And, and I love that. So my focus is specialty on occupation, disability coverage for physicians. And I'm an independent broker, which means no insurance company pays my rent or my light bill. And I don't end answer to them other than just using them as an option. When we're talking about coverage options for you and for all of our clients, this is being recorded in spring of 22. And so all of our clients are looking at the same four columns and companies that you are seeing. If you have the spreadsheet that is smashed mutual emeritus, guardian and principle, I don't work for any of these companies. They're on the spreadsheet because they perform they're on there because of contract language. So don't think that because you want to pick a company that you've heard of, or that maybe advertises on TV, or, or that seems familiar because that doesn't mean you're gonna get paid.

(04:19): If you're disabled, all that drives a claim, being paid is contract language. Okay. And so that's what we're gonna talk about. Obviously, the company status is important. Their financial ratings matters to a certain degree, but all of these companies have been around longer than any bank we use. They're rated higher probably than any bank we use. They've probably been around a, I think the youngest one is like 125 years old. And so they know what they're doing and, and they're really solid. So you're, you're fine picking any of these. Okay. So why these four, these four are on here because they're the only four that are gonna have no moving parts and provide the definitions that you want over the core of your career. If you ever had to file a claim, these are gonna be the ones that you would want to have outside of these.

(05:07): It gets muddy pretty quick. Most independent brokers can, can probably access 70 or 75 insurance companies. The four are on the spreadsheet because they're the only four. There used to be six. There used to be five, and now there are four. So depending on the blog post, you, you read or, or the Google search you do, there may be a couple others mentioned, but mass mutual emeritus, guardian, and principal stick with those. I'd love to work with you, but whoever you work with, make sure that you have one of these. They're the best of the best. All four of these are what's called non cancelable and guaranteed renewable, which means that the policy can never be canceled. The definitions can never be changed and the rate can never be changed. And that's important is vital to have no moving parts, as I mentioned so that when you go to increased coverage, you're getting the same thing as when you started and they can never change the terms on you or cancel it.

(06:02): So what we do here at this point is, is, as I said, start at the top of the spreadsheet and work our way down. These companies will allow trainees to purchase 5,000 a month of coverage, which is why we put these examples there. This benefit is non-taxed. So if someone has 5,000 a month becomes disabled, they can spend all 5,000. You wouldn't know the government state or federal any of that benefit. There's no law or rule that says you have to start at 5,000. So on most spreadsheets we include in at least one option for 2,500. So you can see the linear relationship between the cost and the benefit. And that would be perhaps more appealing to someone who still has a number of years left in training. And it's wise to consider you, you, you don't have to do all or nothing.

(06:47): Clients that say, Hey, I want to get, I want to take care of this. I want to check this box. I wanna get some coverage, but I can't afford 5,000 a month. Just can't do it. So what can I, well, we say, okay, well maybe start at 2,500. You take care of the, the medical screening that is once forever. So once you're in, you're good to go. You don't have to update that in the future. Also lock in the discount. So that, that will never, you'll never lose that. Some of these companies have a 30% discount. That's significant. There's an opportunity to get a 45% discount. That's significant. So start low lock in that discount. And then you keep that discount, not only, only initial 2,500, but on anything you increase to in the future, which we'll talk about you know, you can increase once you become an attending.

(07:35): And so you can pretty much check that box of getting your, and start at a lower amount and keep the cost more budget friendly. Obviously, if you're disabled, in the meantime, you get less benefit. So there's a risk with that, but most people understand that. And so it's just an option food for thought, something to consider. Most of our clients do start at 5,000, but we have a good number that still start out a little bit lower. At least initially the elimination period is either 90 or 180 days, depending on the situation you pick that up front. That's the length of time that you self-insure from the date of a disability until the first check shows up. Okay. So if you're disabled on January 1st and you have a 90 day elimination period, you get the first check in April. And if you have a 180 day elimination, you get your first check in July.

(08:23): So the longer you're willing to wait, the lower the cost, the benefit period is pretty customary. To age 65, you could get a, a benefit period to age 67 or 70. It costs more for that. Pretty much all of our clients pick 65, but the, you certainly have the option to pick another one if you want it. But that's why we put 65 on the spreadsheet, the definition of disability. This is what starts to separate these four options from everyone else. And I want to address this specifically for non surgical or noninvasive specialties, true specialty on occupation. That definition means two things. One first, it means that if an illness or injury prevents you from performing the material duties of your specific occupation, then you're totally disabled. And two, there's no penalty for income. You later earn doing a different job. Okay? So you, if you are in clinic and you cannot do clinic, then you are disabled.

(09:21): You could then go teach or consult, do telemedicine, write a book, whatever you want to do, make an unlimited income doing that. And there's no penalty to your benefit. And I have some clients that say, well, is this definition that important? If I'm not a surgeon, if I cut off my hand, then I can still do clinic. So do I need the true specialty definition? Well, that's, that's an excellent question. The answer is yes, because the vast majority of claims are illnesses, not injuries. Over 90% of claims for private disability, insurance are illnesses. So most of our clients, whether their surgeons or not are not chopping off their hand, you know, most people tend to think, or a lot of people tend to think, Hey, if I'm a quadriplegic or if I'm in a, you know, bad car accident and those things certainly happen. I'm, I'm not saying they don't happen, but the vast majority of disabilities are illnesses, musculoskeletal, soft tissue disease, and those kinds of things.

(10:17): So let's say you have a herniated disc in your back, okay. And you can't get outta bed. And your job up until that point, has your employer expects you to show up at clinic physically? Part of that is you getting in your car, going to work, moving around a, an a doctor's office, a hospital. If you're a hospitalist and physically showing up and being able to see patient go from patient to patient, to patient, and you you're paid in a lot of cases based on how productive you are during your time in clinic, but you can't do clinic. Now, you can't get out of bed. So the, the question is, are you disabled? That's literally the million dollar question. Well, with these four contracts, what they're gonna do at the time of claim is, is actually interview you talk to your employer, tell us about a typical day for you.

(11:10): What do you, what do you do? What, how does it start? Do you physically show up to clinic? What are your duties? What are your requirements? How are you functioning? They verify that through the C PT codes for patients that see you, and those are your duties. Okay. If you can't do those duties, because, and that one of those duties, a significant and kind of a driver for those duties is you physically showing up to work. Then if you have a, a herniated disc in your back and you can't go to work, then you would be considered disabled to okay. Totally disabled. You could then, so you'd collect your full benefit. You could then stay home and do telemedicine or consult, or like I said, write a book do whatever you want to do, make an unlimited income doing that. And there's no penalty to your benefit.

(11:59): Okay? The reason I'm addressing this to non-surgeons is to say the herniated disc in the back, the, the majority of claims, the musculoskeletal soft tissue diseases, they're gonna affect the income of both the surgeon and the non-surgeons. Okay. In the days of production driven, pay surgeons get paid for procedures. Non-Surgeons get paid for clinic and it's production driven typically. Okay, now that can be exceptions to that. I recognize that, but most people are being paid based on productivity. At some point, if you can't show up at work, your paycheck is gonna be impacted. Okay? And so having coverage that is gonna classify you as being totally disabled because you can't show up to clinic is vital because outside of these four, what group policies do, what association policies do, what some of these others do that are just really bad. They market it as specialty specific and own occupation.

(12:59): But what they mean by that is very different than what we just discussed. Okay. If you are an oncologist and you are a board certified internal medicine, and you're doing oncology, you have a significant training background. Okay. And a Google search of MD duties or physician duties may reveal. You could, you you're qualified to do 50 duties. Okay. But over the course of your career, as an oncologist, you've, you've streamlined what you're doing to a half dozen or so duties that you do over and a over and over again. Okay. And so the literally the million dollar question is if you're disabled, what is the threshold for being disabled, being unable to do 50 duties or unable to do a half dozen duties, you're gonna want it to be half dozen. Okay. You're gonna want that to be the threshold. Okay. And with the four on the spreadsheet, if you can't do those half dozen, then you're disabled.

(13:57): You could then go do one of the 45 other duties you've been trained to do and had exposure doing. And that would be considered a separate occupation. Okay. What other policies are gonna do? What the specialty specific group, policy or employers gonna do that benefits is just told you is the best thing ever. They don't know this necessarily. They're not lying to you. They just don't understand it. That at time of claim, what they typically mean by your duty threshold is the 50. Okay. So they're gonna say, Hey, yeah, we understand you can't do the material parts of these half dozen that you were doing, but you know what? There's a lot of other duties you're qualified to do. So go figure out how to do those. And you're not totally disabled. So it's literally like night and day. And so we've, we do have clients on claim we've had and they get paid.

(14:48): And we've had a number of situations where they collect from their private policy, as they expect to. And they never see a nickel from their employer policy. Okay. They don't meet the definition of disability. Any reasonable person would say, they're, they're disabled. They have a herniated disc in their back. They can't get outta bed. They can't go anywhere, but they're not disabled because they could do telemedicine. They could do a, I mean, COVID proved it, right? You can do virtual visits. You can do that now. So go figure out how to do that. And we're not gonna pay you what these four are gonna do is not penalize you because you learned how to do virtual visits during COVID, but you're not doing 'em when you're disabled, because you're showing up physically at clinic. And so the devil is in the details for this and being nonsurgical.

(15:32): I can't say this enough, please, please, please. I'd love to work with you, but maybe I'm annoying you at being so over the top about this, I don't mean to be, but if you find another broker, that's not. So over the top at least get, get your private coverage, make it with one of these four, because trying to navigate a claim without private coverage, without the best private coverage is really painful. It's not gonna go, well, it's gonna be muddy. It's gonna be contentious. You may even talk 'em into paying you for a while. And then you get a letter saying they're not gonna pay you anymore because you need to file an appeal with a social security administration. I mean, it, it just, it, it is just complicated. And so hopefully that makes sense, sorry for, to belabor that point, but it's, it's really important.

(16:20): Next on the spreadsheet is the what's called the total future insurability. This is what allows you to expand or increase your coverage as your income goes up as an attending. So as you graduate, you become an attending. Your income increases. Most of our clients want to increase their coverage. And when you do that, there's a formula that companies use to calculate how much coverage you can qualify for depending on your specialty and your, if you're looking at a spreadsheet, the cap is either 20,000 or 30,000, depending on the company, each company comes up with that individual or separate from each other and they run that number. They won't give you 20,000 just because you're willing to pay for it. Okay. They really don't want you over-insured if they can help it, believe it or not. And so we run those numbers to determine how much more coverage you're eligible for.

(17:04): Let's say that when you start, you have 5,000 a month and you're eligible for 10,000 a month. Well, you bump up to 10,000 and then that extra 10,000, let's say you have a total insurability of 20,000, the 10,000 that you haven't used yet stays available for you to use as your career continues to grow. And most of our clients do, they, they hit productivity. They make partner, whatever it is, their career tends to expand their income expands and they want to increase coverage down the road. What's important about having this on your policy is that you access the trainee discount on everything you increase to up to the cap of 20 or 30,000. Okay. That's significant. We'll talk more about those in a minute. The other thing is that the medical screening that you do initially, which is easier for trainees, we'll talk about that in a minute as well.

(17:53): You do that once forever. So when you go to increase in the future, you don't have to be as healthy then as you were, when you started, they don't ask you any medical questions. And so it's like flipping a switch. It's really easy to do. There is essentially a linear relationship between the cost and okay, from a budgeting standpoint, it means that if you triple your coverage, you're gonna triple the cost ish. Okay? Because you're, there's this, there be an adjustment. If you're 30, when you buy it initially, and you're 40, when you do an increase, the cost for the part that you're buying at age 40 has a higher per unit cost than what you did at age 30. And that's obvious, but they, both of those purchases would include the, the same trainee discount. Okay? So it's essentially linear. There are exceptions of Meritus currently the way they do their future insurability is when you go to increase in the future, the per unit cost is gonna be lower at higher coverage amounts.

(18:48): And so if the rates are in the same ballpark for 5,000 emeritus is pretty much always gonna be the least expensive at 15 or 20,000. Just something to think about. They're also with, you may see on the spreadsheet every three years in parentheses and in the future insurability column, that means these companies require you to increase every three years or at least go through the exercise of calculating how much more coverage you qualify for every three years. They have a rule that you need to accept at least 50% of what you're eligible for, or they remove that increase rider from the policy. Okay? Now, most people are ready for an increase about every three years, if not sooner. And so that's do generally not been an issue, but it is some guardrails, I guess you could say, around how they calculate it. Now, there are certain triggering events like graduation or changing jobs where you would not have to wait three years.

(19:41): So if you buy your policy and a year later you're graduate and become an attending, you don't have to wait two more years to increase. You can increase right away, but generally over the course of your attending in career, you would just expect to kind of update that calculation every three years. And your broker's supposed to help you with that. We're, we're in touch with our clients. We help them do that as they need it and make sure that they don't forget the next on the spreadsheet is residual benefit or enhanced residual benefit. This is for partial disabilities. It pays if you can do your specific duties part-time but not full-time as the result of a illness or injury, it's, it's important to have there's a minimum income or, or time percentage loss that's required to activate the benefit. It's either 15 or 20% lower is better.

(20:33): 20% is really good. It's the industry average. It's just that mass mutual emeritus and guardian have stepped it up to 15%. So something to factor in next is the long term recovery benefit. This is vital. It pays if you medically recover from a disability and return to work, but your income does not recover to what it used to be. And that happens a lot. We have a family doctor, client who has collected for, I think 12 years from a recovery benefit was out for like two years because of a stroke came back, medically cleared to go back, just not as productive of his. He used to be is practice evaporated. He started over you know, used to see 25 patients a day. Now he sees 18 or whatever. So it's very possible in the days of production driven pay to never reach the pre disability level of income.

(21:21): And if you get outside of these top tier contracts, that's not present on an associate policy on an employer policy and you would be painful to live without it. So you definitely wanna make sure that's there. Next would be the psychiatric benefit that pays for benefits for illnesses related to drug addiction, alcohol addiction, depression, and anxiety. Okay. Guardian could sleep, pay benefits for that to age 65. That's what they're known for. And that's there. If you want, it Ameritus would pay for up to five years. It could be two years, depending on your specialty and mass mutual and principal would pay for two years. Mass mutual is two years per occurrence. Principal is two years. They do offer a two age 65 psychiatric benefit. We don't have hardly any clients that pick principal for that, that would change their discount and their rate.

(22:16): But generally, if you're looking at principle, that'll say two years, if you want the 2, 8 65, I would recommend guardian. We've not seen a claim go beyond two years for psychiatric disabilities, but obviously that's an do. It doesn't mean it couldn't one of the catches. I mentioned the streamline medical screening. I I'll cover that in more detail later, but if someone has been, or is currently being treated for even mild anxiety or ADHD or depression, then they're gonna very likely exclude the psychiatric benefit from the policy as a preexisting condition. So just something to think about next on the spreadsheet is the presumptive benefit that pays. If certain events happen, they're gonna presume that you're totally disabled and pay your full benefit. Anyway, and those events are loss of eyesight, loss of speech, loss of hearing, or loss of use of both arms or both legs or one arm and one leg.

(23:09): And this would pay if you wanted to continue working. So let's say you lost your hearing and you wanted to continue working. They're gonna go ahead and presume you're totally disabled and pay your full benefit anyway. Okay. It doesn't mean that if you are, so principle requires that in that example, your hearing loss would need to be permanent in order to pay. Okay. The other three do not require permanent and emeritus would waive the elimination period and pay you immediately. Okay. Now I wanna clarify principle is not saying that, Hey, if you have a hearing loss and you can't work, it has to be permanent to get benefits. That's not true what this is. If you have a hearing loss and you can't work, then you're disabled and you would, you would collect, okay. The presumptive benefit is that if you have a hearing loss and you wanted to continue working, they would require it to be permanent in order to pay then.

(24:00): Okay. So just clarification. We can talk about that in more detail hill. I realize that might be tough to, to be clear on in the brief time we've covered it here, but it's an extra benefit. Okay? It's just something they offer. In addition to fully covering you for any illness or injury with the true own occupation, definition of disability. This is an extra benefit. Okay? The presumptive benefit Ameritus offers a couple of perks that I wanna mention that a lot of clients like you don't pay extra for them. They give 'em to everybody in most states, they're not approved in all states, but most states though, probably I think like 46 or 47 states, non disabling injury benefit, they'll pay 50% of the base policy benefit up to a cap of $3,000 toward any medical treatment for minor injuries. Okay. So if you ever hurt yourself, it doesn't have to be work related.

(24:53): You hurt yourself hiking or, or working out skiing, whatever, get stitches, x-rays MRIs, surgery. Even they're gonna pay you the medical cost of that treatment, even if you have no out of pocket. Okay? So you can make a profit on your injury. That, that is, that is very probably likely there's no limit to the number of occurrences. They can't raise your rate. They can't exclude the injured area. There's no downside to it. They just offer it as a perk. And the, and a lot of clients like it, I've got a client's collected three times or four times from it. So it's very possible to use that more than once another perk is what's called a good health benefit. That is a perk where every year somebody has a policy with Ameritus and is not disabled, which is how they define good health. They're gonna drop the elimination period by two days.

(25:44): Okay. So that's gonna add up in 15 years, you would have a 60 day elimination instead of a 90 day, for example. So you get an extra check and you get paid sooner and actuary would say that that's significant statistically. So again, just food for thought. The last row before the premium section is the cost of living adjustment or Cola rider. This is an inflation factor that increases your benefit it while you're disabled to offset inflation, it's not required to have it. So we show rates with it and without it, but if it's on your policy and you had 5,000 a month become disabled, they're gonna pay that for one year, for 12 months. And then in the 13th month, they're gonna bump it up by 3%. And they keep doing that each year or on claim for as long as you're on claim, it's significant.

(26:31): It would add up. Most of our younger clients tend to gravitate to that, but it's not required. Okay. So I, I don't spend very little time trying to talk anybody into that. It's more of just something to factor in. And so the rates at the bottom reflect each company's discounted rates with, and without the cost of living, each company has their own discounts. And these discounts are driven by a company's desire for growth, much more than they're driven by their quality of their contract. Okay. So if you're looking at a more expensive option, it's likely because they have a smaller discount, not because their policy's better. Okay. So you can pay more if you want, but that doesn't mean you're getting more value. It just means that they have a smaller discount or they've classified your specialty in a different occupation class or, or a less favorable occupation class.

(27:23): Each company has their own actuarial department that determines where each specialty gets priced. And so that factors into the rate as well with emeritus, you'll see two sets of numbers. Typically the more expensive number is their discounted rate and that's non cancelable and guaranteed renewable. And the rate can never be increased. Obviously, if you increase coverage, the rate goes up, but otherwise it could never be increased. The less expensive number is what's called guaranteed renewable only, which is an additional 15 or so percent discount that they offer in exchange for them being able to increase the rate by occupation class in the future. And now in the almost six to years, they've been selling policies. They've never raised the rate on anybody, any, any physician occupation. So their track record is perfect. So the very small risk, it is a little bit of a risk.

(28:16): We have a lot of clients that like it as a way to save more money, we have a good number of clients that don't, they don't want to give anybody a chance to mess with their rate. And so it's not for everybody. It's at least something though that, that you ought to know about the streamlined medical screening. I want to cover. It is easier for trainees because they waive the insurance physical. You don't have to see a nurse or see your doctor or get the labs done. They're still medically screening you. They're just doing it over the phone. So if, and when you're ready, let us know which one you want. I would email you a DocuSign link to put in your personal information. It's like an intake form. You do that electronically take you maybe eight to 10 minutes, then you would, e-sign an application electronically.

(28:59): And then you do a phone call with an underwriter where they go over your medical history. They have, I don't know, 20 any five medical questions. They ask everybody that they go through and that's it for you from start to finish. You know, the process can take anywhere from one week to eight weeks. It can take a little while, depending on if they need to get medical records to verify details. But your involvement in that process is less than a half hour and it's all remote. So it's never been this easy to get again, once you do that, if you have the future insurability on your policy, which we help our clients get, then you would never have to update that screening in the future. That's an important factor. I think all these points are important. The last thing that I do get asked a lot is, okay, Billy, I'd love to work with you.

(29:47): How do you get paid? And that's an excellent question. Your broker gets paid a small fee or small percentage of the premium you pay for the life of the policy. Okay? So you don't pay me any, anything extra don't ever pay your broker, anything extra. They, the, the premium is fixed. The rates you see on the spreadsheet reflect that commission or fee that's paid to the broker. And if you go direct, the insurance company would send you to me or someone like me, because that fee has to be paid. There has to be a broker on the application. So it's not cheaper if you call mass mutual direct. The point in that broker being paid over the long term is to incentivize me or him or her to try to keep you happy. Your broker does matter. You need to make your broker, earn their, keep this part where you're learning about the details and confirming that your coverage has the, the definitions that you want them to have, or that you want the coverage to have, that it should have navigating the medical screening, making sure you're getting the best offer.

(30:52): And, and if you're healthy-ish, these would be your rates. So the, the rates not negotiable based on your health. Typically, if you're healthy-ish, these are gonna be the rates they reserve the right to decline. Okay? So that, that's another, I've done topics on the medical screening part, which please check those. But in terms of your broker being compensated make 'em earn that because you want to see everything in writing. I mentioned earlier, the devil is in the details. If it's not in writing, it doesn't exist. Don't take your broker's word for it. Have them send you the quote, summary, the policy. You need to see the details. Now they can send you the quote summary. When you apply, the policy would be sent once you're approved and everything should match up. Okay. And take as much time and request as many conversations as you need to feel comfortable with what you have.

(31:44): That's what your broker gets paid for. We help our clients with everything, from changing their address, to increasing coverage, running those nor numbers, to determine how much they you're eligible for how to do that. Answering questions at that point. And then also advocating at the time of claim. We do, like I said, we have clients on claim, but for HIPAA reasons, obviously they're gonna deal with you directly, but your broker can be as involved as you want him or her to be. We have our clients where we offer and they all, they've all taken us up on it to sign an extra authorization, allowing me to speak with the claims people on their behalf and just make sure that they're being advocated for make sure that things are moving along the way they're supposed to. These companies are excellent at claim time. Okay. They really are good at this, the best of the best, but sometimes things get lost in translation.

(32:35): And we've had people on filing claims not communicate something the way it was supposed to. We were able to speak with the claims people and confirm the accuracy of what the situation was. And it moved the needle. It let them claim get processed a lot quicker and it was favorable to the insured. So your broker should be involved. This is where it, it gets complicated. If you've dealt with an 800 number or online quote engine or whatever, trying to make it as people list as possible on the purchase. End, just remember that on the claim side of it, that's gonna be the situation again, right? If you have, if you don't know who your broker is, if you've not had a conversation with 'em, then you're not gonna have a conversation with of them when you become disabled. So just factor that in your broker matters.

(33:24): And now I'm not a claims person. Okay. So I don't approve claims, but we certainly know these people and they know us and, and that's important. They like us. That's a good thing too. So it does matter. We're set up to work with close to. I may have mentioned this earlier, close to two and physicians all over the world, mostly in the us obviously, but you folks move everywhere, which I love. And so we have clients all over the globe. And so we're set up to help with that process and keep them up to date everywhere they go. And that's important. So your broker does matter hope you have found this helpful. Again, this is not meant to replace the detailed conversation. Please feel free to text me to arrange that conversation or with any additional questions. My number is 7 0 4 2 7 0 2 3 7 6. Again, that 7 0 4 2 7 0 2 3 7 6 would be happy to discuss your situation until we meet again. This is Billy Walton. Thank you as always for your time.

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