MGIS Expands High Limit Disability Insurance Offerings for Healthcare Professionals

SALT LAKE CITY, November 16, 2020 /PRNewswire/ — MGISa leading provider of disability insurance products designed for doctors, dentists and other specialty healthcare professionals, today announced that it has expanded its High Limits product offering to include High cap business overhead blanket and High Limit Student Loan Repayment cover.

Jeff BrunkenPresident of MGIS notes, “MGIS is dedicated to providing high-value income protection to healthcare professionals. Our two unique products address specific issues that many healthcare professionals face in the event of a disability. When a practice owner becomes disabled, he or she is still responsible for professional expenses.When a healthcare professional with student loan debt becomes disabled, he or she must still repay their student loan.These products solve both problems.

the High cap business overhead product can be structured as an indemnity or reimbursement. Structured as an indemnity, benefits will be paid without the need to complete extensive reimbursement paperwork. This speeds up the distribution of benefits.

According to the Association of American Medical Colleges, “The median student debt of medical school graduates in debt in 2019 was $200,000and 73% of graduates reported having student debt. High Limit Student Loan Repayment claims flat-rate maximum limits up to $500,000 and maximum monthly limits of $3500—some of the highest limits available in the disability insurance industry.

The new High Limits disability insurance products from MGIS combine MGIS’ experience and understanding of the physician disability insurance market with the innovative environment and financial strength of Lloyd’s. Both new products operate on the powerful high limit disability insurance policy that was designed specifically for healthcare professionals and reflects many of the product features honed for the group physician disability market over the past 50 last years.

MGIS
MGIS is a leading national insurance program manager experienced in creating and managing specialized insurance programs for healthcare professionals. We partner with top-rated insurers and focus on disability and group life insurance for medical practices of all sizes, types and specialties. The insurance policies managed by MGIS are backed by members of the Sun Life Group who are insurance companies and certain Lloyd’s underwriters. We work exclusively with selected insurance brokers and advisors. MGIS services are provided by MGIS affiliates: The MGIS Companies, Inc., Medical Group Insurance Services, Inc. and MGIS Underwriting Managers, Inc. (DBA as MGIS Professional Insurance Solutions in California and MGIS Underwriting Agency in NY ). www.mgis.com

Lloyd’s
Lloyd’s is the global market specializing in insurance and reinsurance. With expertise gained over centuries, Lloyd’s is the foundation of the insurance industry and its future. Led by expert underwriters and brokers who cover more than 200 territories, Lloyd’s Market develops the essential, complex and critical insurance needed to secure human progress. Backed by diversified global capital and excellent financial ratings, Lloyd’s works with a global network to develop the insured world, building the resilience of businesses and local communities and driving economic growth around the world.

SOURCE MGIS

Related links

http://www.mgis.com

About Antoine L. Cassell

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