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Welcome to the Disability Income site designed specifically for the University of North Carolina Hospitals GME Residents and Subspecialty Residents.  Mitta Financial Services, LLC and its partner, InsureSTAT, are the leading independent insurance specialists in the region.  Their focus is providing quality advice while building long term relationships.  They represent all of the major carriers in the industry.

Protect Your Income

Physician Disability Insurance Quote

New Guaranteed Issue Disability Income Program

There are many carriers you have access to for Disability Income protection. One of them is Ohio National who recently has made available for you an Individual policy you can sign up for on a guaranteed issue1 basis.  This program has a true own-occupation definition of Total Disability along with 15% discount and Unisex rates.  Please complete the quote request form and Chris Mitta will prepare your individual quote and contact you directly. Below is a summary for both 2021 Graduating GME Residents and Subspecialty Residents and Non Graduating GME Residents and Subspecialty Residents.

Guaranteed Issue Eligibility Requirements

  • You must be an active GME Resident or Subspecialty Resident officer or Fellow at UNC Medical Center
  • You must have been actively at work 30 hours/week or more for the last 180 days
  • You can’t ever have applied elsewhere and been DECLINED for DISABILITY INSURANCE by another insurance company

2021 Graduating GME Residents and Subspecialty Residents

The guaranteed issue1 feature from Ohio National allows up to $5,000/month and is available to those within 12 months of their graduation date. This plan can be increased to $15,000/month after graduation. In addition all other carriers, such as Principal, Guardian and Ameritas are available for review.

CRITICAL INFORMATION REGARDING ELIGIBILITY IF YOU ARE GRADUATING

We understand and value your independence and freedom to work with any agency to secure valuable disability insurance. However, please note that should you apply with any insurance company and have medical conditions that could exclude you from protection, you could become immediately ineligible for the guaranteed issue1 program that that The University of North Carolina Hospitals has made available on your behalf. We strongly urge you to talk to us before applying anywhere else and risking ineligibility. We provide access to all carriers and all discounts are the same from all agencies. We will go above and beyond by protecting not only your income but your insurability under all circumstances.

Non Graduating GME Residents and Subspecialty Residents

We suggest that all residents consider securing an individual policy without medical review and this will pay a portion tax free. This will help replace what you lose in tax from the Group plan benefit and allow you to lock in the first $1,500/month of your individual protection at a younger age. As a resident, you will pay this cost but it will be fixed and guaranteed and is portable for your whole career. Special rates are the same for males and females. Depending on your age and medical specialty, rates for a 28 year old start at $28.55/month. During the 12 months before graduation you can the automatically increase from $1,500/month to $5,000/month without any medical review or exams.

Protect Your Income

Physician Disability Insurance Quote

[1] Approval is based solely on the eligibility requirements

Resident & Fellow Sample Monthly Rates

$5,000 Monthly Benefit, To age 67, Own Occupation, Future Increase Options Included

Ohio National
(No Medical Review)

Principal
(Medical Review Required)

Male
(Age 30)

Female
(Age 30)

Male
(Age 30)

Female
(Age 30)

Pediatrics, Allergy, Radiology (Diagnostic), Family/Internal, Neurology, Psychology

$128

$128

$108

$194

Dermatology, Cardiology (non interventional)

$128

$128

$123

$228

Oncologist

$147

$147

$108

$195

Radiology (interventional), Neurosurgery, Cardiology (int), ENT

$165

$165

$123

$228

Emergency, Ortho, OBGYN, General Surgery

$165

$165

$146

$277

Anesthesia

$206

$206

$146

$277

Other Policy Features Included: 90 Day Elimination Period, Fixed/Level premiums, Cost of Living Increase, Partial/Residual Benefits

2021 Graduating Residents/Fellows

Simply email danny@menshinsurance.com or complete the Quote Request Form to get started immediately. We only need your name, medical specialty, date of anticipated graduation and male/female status…Nothing more to do on your end to get started!

For eligible graduating residents and fellows, the guaranteed issue plan from Ohio National allows 4 different benefit options…$2500, $5000, $7500 or as much as $15,000 monthly depending on your medical specialty and a signed employment contract. These plans are available beginning January 1, 2020 for June 30(or later) 2020 graduates. Plans can be designed with a fixed level cost for the $7500 or on a Graded/Annual Renewable basis to start far lower for the first few years to help with initial cost before locking in to a level fixed cost in year 3+.

Discounts from Principal, Guardian, Berkshire/Guardian, Standard, Ameritas can also be compared and secured via medical review. Additionally, if you have a signed employment contract we can secure up to $15,000/month based on that before graduation!

This plan can be increased to $15,000/month after graduation. If you have a signed employment contract before graduation, we CAN USE THIS to secure up to $15,000/month of benefit before you finish your training to lock in the single higher benefit right away

This is one of the most critical pieces of all insurance discussion for residents and fellows: When an employer pays the premiums for any disability insurance on your behalf and you do not pay tax on the premium amount, all benefits would become taxable as ordinary income to you if you go on claim. So, for example, if you are a Wake Forest faculty physician and are eligible for the maximum of $20,000/month of group disability insurance benefit, you would end up with closer to $12,000/month NET after taxes. So, we SUPPLEMENT the tax loss by helping you secure an Individual policy for the $8000 you lost in tax. This would be tax free because you pay the premiums with after tax dollars.

The definition of Total disability can vary. The basic language says that if you cant perform your regular duties at the time of a disability, you are deemed disabled and eligible for benefit as long as you are not earning any other income. When we add an OWN OCCUPATION rider, the benefits are designed to pay EVEN IF you can do other things and earn other income as long as you cant perform your original duties.
“Specialty Own Occupation” adds another sentence to the contract to define your regular duties as your medical specialty which recognizes that you may have specific tasks inherent to that medical specialty that differ from other specialties. If you can’t perform exactly those tasks, you are deemed totally disabled. This is typically critical for all surgeons or anyone with invasive or interventional medical training.

All Guaranteed Issue program policies as well as ALL medically underwritten policies proposed by Mensh Insurance DO CONTAIN OWN OCCUPATION LANGUAGE.

3 BIG reasons…1. No GUARANTEED ISSUE offer once you finish at Wake Forest. So, if there are ANY health issues, you face declination and not getting coverage issued at all if you wait. 2. You lose access to all carrier discounts and the UNISEX rates for all females! 3. The insurance industry rules allow you to secure Individual protection and stack an unlimited amount of new Employer Provided Group coverage (typically without own occupation language etc) on top. However, if you wait and try to add individual policies on top of new group coverage, you will be limited to income and benefit maximums.

You sure do, it’s yours and totally portable with all discounts in effect to age 67.

The Guaranteed Issue plan includes a 15% multi life discount for all applicants and for females accessing the UNISEX rates, it lowers your cost by nearly 40% more! All available carriers include a range of 5-30% discount depending on company.

All plans proposed by Mensh Insurance including the Guaranteed Issue plans include Residual/Partial, Cost of Living increase, Non cancelable and Guaranteed Renewable, Own Occupation Riders. All plans provide access to future increase options that won’t require medical review. All plans CAN add Catastrophic benefit riders to pay additional monthly amounts for long term care related benefits.

You can always fix and guarantee the cost and pay annually, semi-annually, quarterly, or monthly. A NEW FEATURE unique to The New Guaranteed Issue program offers a way to lock in the full $5000/month of benefit at your age today but with a way to pay far lower for the first 3 policy years. While the cost will slowly increase during policy years 2 and 3, the cost is far lower than the original fixed/level cost which is possibly ideal for the resident who enters fellowship and wont quite jump to the higher income level yet. OR for a graduating resident who will become a partner in year 3 or 4. Starting in policy year 4, you can fix the cost from that point forward for only a slight increase over what the original fixed cost would have been in year one. Remember, you enjoyed the major savings in the first few years so the increase at higher income is less of a burden.

A few of our available insurance carriers can offer an additional rider to the base disability insurance policy that would provide an additional benefit to pay loan payments if disabled. Additionally, we have a unique program via Lloyds of London that allows you too secure lump sums paid directly to you versus the bank to help pay loans or use for any particular need.

Of course! We offer Term Life Insurance to provide fixed cost and level benefit amounts for 10, 15, 20, 25, 30 years and can help you or a spouse with this process. We also provide Whole, Universal and Index Universal Life for those who seek permanent coverage and cash accumulation options.

**Critical Information Regarding Eligibility if You are Graduating**
We understand and value your independence and freedom to work with any agency to secure valuable disability insurance. However, please note that should you apply with any insurance company and have medical conditions that could exclude you from protection, you could become immediately ineligible for our guaranteed issue1 program that Wake Forest has procured on your behalf. We strongly urge you to talk to us before applying anywhere else and risking ineligibility. We provide access to all carriers and all discounts are the same from all agencies. We will go above and beyond by protecting not only your income but your insurability under all circumstances.

Non Graduating Residents

The hospital provides your Group Disability plan while in training and it is designed to replace 66 2/3% of your income up to a monthly maximum of $3000. Yo u Do Not Have to do anything at all to be insured by this plan.
Keep in mind that if you are on claim receiving benefits that amount will be taxed as ordinary income. We suggest that all residents consider securing an individual policy without medical review and this will pay $2,500/month tax free. This will help replace what you lose in tax from the Group plan benefit and allow you to lock in the first $2,500/month of your individual protection at a younger age. As a resident, you will pay this cost but it will be fixed and is portable for your whole career.

Ohio National allows you to secure $2500/month of individual protection without full medical review and with UNISEX rates while in training but not in your final year. These plans include specialty own occupation and residual benefits. We also build in $7500/month of Guaranteed Increase Option benefits that allow you to avoid medical review for more benefit. Only income verification is required to complete the benefit increase. Once within 6 months of graduation, we can bump you up to the $5000/month plan without medical review by adding a second $2500/month at your older age. By increasing to the full $5000 by graduation, you can end up with a total of $5000/month and $10,000/month of Guaranteed Increase benefit options…this gives you $15,000/month of total discounted specialty own occupation protection available during your career. By locking in $2500/month now, you have one amount at a lower price (younger age) and the balance at the graduation age. For those with young families or health issues, many will seek to secure this intro level policy. We just need the Quote Request Form completed or email danny@menshinsurance.com review cost options.

A few of our available insurance carriers can offer an additional rider to the base disability insurance policy that would provide an additional benefit to pay loan payments if disabled. Additionally, we have a unique program via Lloyds of London that allows you too secure lump sums paid directly to you versus the bank to help pay loans or use for any particular need.

Of course! We offer Term Life Insurance to provide fixed cost and level benefit amounts for 10, 15, 20, 25, 30 years and can help you or a spouse with this process. We also provide Whole, Universal and Index Universal Life for those who seek permanent coverage and cash accumulation options.

Guardian, Ameritas, Principal, Ohio National, The Standard
Medical Students in a seminar about Disability Insurance

Why Consider Coverage Now?

Top 3 Reasons to Buy a Policy Now

  1. Lock in discounted rates that are fixed for your entire career and won’t be available after graduation.
  2. Avoid medical review by securing the only guaranteed issue1 policy available to include specialty own occupation language and access to more coverage after graduation.
  3. Place individual coverage in force before adding future employer provided benefits. By having individual coverage in place first, you are free to stack future coverage in unlimited amounts.

Term Life Insurance

Enter your information to receive a term life insurance quote. Learn more about our accelerated underwriting offering (PDF).

Sample Monthly Rates

Male

Female

$250,000 / 10 year

$10.81

$9.99

$250,000 / 15 year

$11.79

$11.63

$250,000 / 20 year

$14.00

$12.48

$250,000 / 30 year

$20.88

$17.67

$500,000 / 10 year

$15.05

$13.42

$500,000 / 15 year

$17.01

$15.47

$500,000 / 20 year

$21.43

$18.40

$500,000 / 30 year

$35.20

$28.78

$1,000,000 / 10 year

$22.22

$19.60

$1,000,000 / 15 year

$26.24

$24.33

$1,000,000 / 20 year

$36.21

$30.19

$1,000,000 / 30 year

$61.71

$49.85

Term Life Insurance Quote

Gender*

Current State of Residence*

Amount of Requested Term Life Insurance

Length of Term Requested

Premium Frequency

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