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Disability-Insurance.com offers a number of different companies' disability insurance policies. For most white collar professions, we normally prefer ProVider Plus from Berkshire Life Insurance Company of America, a wholly owned stock subsidiary of The Guardian Life Insurance Company of America.
As discussed at length in this web site, the definitions and provisions of ProVider Plus are outstanding and the premium is generally competitive with other high quality non-cancellable and guaranteed renewable to age 65 disability insurance policies.
ProVider Plus is attractive for attorneys for two reasons. In addition to having strong definitions that are favorable towards the policyholder, the company at this time offers its highest occupation class for attorneys, which is their occupational class 6. This results in competitive rates.
ProVider Plus offers a true own occupation definition of total disability until age 65. Many other policies will not only be more expensive, but will have a less favorable definition of own occupation. ProVider plus states you are totally disabled if because of sickness or injury you are not able to perform the "material and substantial"* duties of your occupation. Many other policies will state that you are totally disabled if because of a sickness or injury, you are not able to perform the material and substantial duties of your occupation and you are not working.
Furthermore, ProVider Plus does not require a loss of time or duties in a residual disability, just a loss of income (typically 20% or more). Many other policies require a loss of time or duties and a loss of income a loss of income of 20% or more.
Clearly, if you have suffered a loss of income as a result of a disability, it is highly advantageous to have a disability insurance policy able to pay you benefits even if you are at work full time. This is another reason why ProVider Plus is a good policy.
Be aware of group LTD's (Long Term Disability) limitations. Group LTD generally offers an inexpensive long term disability insurance policy. It does not provide true own occupation coverage until age 65. It generally provides own occupation coverage for a stipulated number of years, such as five. Association plans often have many reasons for the premium being low. For instance, there are often limited benefits in the event of partial (residual disability). You might need to be totally disabled first in order to collect a partial disability insurance benefit. Furthermore, the partial disability benefit might only pay for a limited period of time, such as 24 months. There are many illnesses and injuries that could result in something less than a total disability. This could result in the loss of a significant percentage of income but because there was never a total disability, association plans may pay no benefits. ProVider Plus may pay benefits to age 65 even if you are at work full time, but as a result of an illness or injury, earned income from your practice was initially reduced by 20% or more. The benefit can continue to be payable until it is less than $500 a month.
Very often other disability income policies and especially group or association plans have a two year benefit limit on disabilities that result from mental and nervous conditions or substance abuse. ProVider Plus has no such restrictions (except in Florida).
Note that many group and association plans guarantee neither the premiums nor the renewability of the disability insurance plans offered. With true non-cancellable and guaranteed renewable disability insurance like ProVider Plus from Berkshire, the policy provisions may not be changed by the company and the premium is guaranteed until age 65. These guarantees are subject to timely premium payments.
* "major duties" in California
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