Life and Disability insurance are important coverage options for physicians and can be added as a group benefit for office staff. MSMS Physicians Insurance Agency (PIA) can assist with these coverages.
- Individual Disability insurance is designed to replace a portion of one’s income if he/she becomes disabled due to an accident or illness and cannot perform the duties of their regular occupation. Options include “Own Occupation for the Entire Benefit Period” coverage. An example would be if a surgeon becomes disabled but could work as an internist, continue to receive his or her disability benefit as surgeon.
- Group Short Term and Long-Term Disability insurance allows your employees to earn an income while sick, on maternity leave or injured. Short-term disability typically provides a 3-to-6-month benefit period. Long-term disability has longer benefit options, usually 6 months to 2 years, but can be provided for 10 years or until retirement age.
- Life Insurance is designed to cover the life of an individual in the event of premature death. Benefits are paid to a designated beneficiary, usually a partner or spouse, but may be used for estate-planning and charitable giving situations. Group coverage is typically provided as a flat benefit amount for all employees or can be provided at one or two times an employee’s annual salary, with an option for employees to purchase additional insurance for themselves or family members.
For more information or to request a quote, contact Dee Wheelock, Insurance Agent at 517-336-7591 or email dwheelock@msms.org