The Select Professional Program from Principal® is ideal for young professionals, students and residents whose income is expected to increase quickly.
The Select Professional Program offers:
- Special benefit limits for Individual Disability Income (DI) insurance, DI Retirement Security and Overhead Expense insurance
Simplicity – the following are not required:
- Financials1
- Routine medical requirements up to $6,000/month (when utilizing TeleApp); includes amounts applied for with other carriers within 180 days2
- The ability to include the Benefit Update Rider for Individual DI insurance – without additional medical requirements for all professionals (new!)
Please note: When applying for Select Professional limits on doctors3 and dentists, the Individual DI insurance benefit is issued without taking into consideration any group disability coverage associated with their residency program or their current employer within their first 180 days in private practice.
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1 Additional application paperwork for Overhead Expense and DI Retirement Security is required.
2 A TeleApp must be used to take advantage of the $6,000/month issue and participation limit. A blood profile and urinalysis are required for Individual DI insurance benefit amounts greater than $6,000/month issued and applied for with all companies within 180 days of the application date.
3 Recently changed the Select Professional Program amount to a maximum of $6,500/month for anesthesiologists and emergency medicine occupations.