Currently, the maximum benefit any company will issue a physician is $15,000/month but some companies will participate up to $20,000/month. This means if you have $10,000 or $15,000 in force with one company, you may purchase the other $5000 or $10,000/month with another company.
Furthermore, some companies are increasing their income and participation limits. This means they will offer a larger amount of benefit in proportion to your current income. Previously to qualify for $15,000/month benefit, it would have required $456,000 of annual income. With the new participation limits, it would require $350,000 of income to qualify for $15,000/month benefit.
If you currently are at the maximum level on your policy, it would require new medical and financial underwriting to qualify for the new benefit.
For more information, please contact us to discuss how this may impact your individual situation.