Apply for the disability coverage you may need as a Resident
You have invested years of your life, hundreds of thousands of dollars on your medical education, and have a potential income stream that could be significant. That all needs to be protected.
While you may have employer coverage, it’s likely not covering you at an adequate benefit level or offering the own-specialty protection you need. It’s important to fill in those gaps in coverage with supplemental disability income insurance protection: the AMA-Sponsored Group Disability Income Insurance for Resident Physicians.
$5,000 monthly benefit at physician-only rates
Up to $5000 in monthly disability benefits as a resident under 40- regardless of your current salary, debt or existing coverage amounts. Both employers and insurers tend to base coverage amounts on current salary, even though it’s rarely enough to cover a resident’s living expenses if you become disabled.
New! Flexible premium structure
You can secure this quality disability income protection at specially negotiated rates that work with your financial obligations. Choose a rate that fits your financial need for a lower premium or a rate that’s designed to stay level.
New! Choose Your Definition of Disability
To enhance the strength of this coverage, you can choose the “True Own-Specialty” definition of disability option to allow you to collect full benefits if you choose to return to work in another occupation. Additional cost applies.
Up to $200,000 to repay medical school loans
Repaying education loans can take up a large part of your income. And if you can’t work again, it could significantly impact your family’s finances. That’s why this exclusive coverage for residents includes a medical school loan repayment benefit- at no extra cost. The benefit can pay up to $200,000 to help ease the burden, if you become insured before age 40 and suffer a Permanent covered Total Disability before reaching age 45.
If you’re insured through your employer, chances are you’ll lose your coverage when residency ends. This coverage can remain with you after the completion of your residency and even if you change jobs or become self-employed. This is an important consideration, since you’re in the early stages of your career.
Personal service from our Insurance Specialists
As a resident, your schedule can be very demanding and carving out time to address your insurance needs might not be high on your list. Our Insurance Specialists are here to help make that process easier and to help you select the disability coverage that meets your unique needs. Our Insurance Specialists are non-commissioned, salaried employees and have no sales quotas to meet. Their sole purpose is to serve you.
New York Life Insurance Company
51 Madison Avenue, New York, NY 10010
On Policy Form GMR-FACE/G-30641-0
Under Group Policy No. G-30641-0
NEW YORK LIFE and NEW YORK LIFE Box Logo are
trademarks of New York Life Insurance Company. Other
trademarks are the property of their respective owners.
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Why AMA Insurance?
Our insurance reflects the unique needs of physicians. As a subsidiary of the American Medical Association (AMA), we tap into the power of over one million physicians to offer you specially negotiated benefits from top insurance companies.