MGIS Introduces Three New Optional Benefits to Customize incomeprotect® | HIGH LIMITS Disability Insurance
Together with Lloyd's, MGIS launches new student loan repayment, retirement contribution, and professional liability premium benefits
Jul 22, 2019, 10:30 ET
SALT LAKE CITY, July 22, 2019 /PRNewswire/ -- MGIS, a national insurance program manager founded in 1969, today announced the launch of three optional benefits to customize its incomeprotect® | HIGH LIMITS disability insurance and meet each client's individual needs. These new products are just one more way MGIS continues to provide the insurance healthcare professionals expect.
Effective immediately, clients can now add the following benefits to their incomeprotect® | HIGH LIMITS disability insurance policy:
- A Student Loan Repayment Benefit
- A Professional Liability Premium Benefit
- A Retirement Contribution Benefit
The new student loan repayment benefit is ideal for those responsible for tuition debt incurred for an advance degree program, ensuring monthly student loan payments continue to be made directly to the accredited lending institution even during disability.
The company's new professional liability premium benefit ensures that a policy holder or their employer is reimbursed for existing professional liability insurance payments, with all payments made directly to the carrier. This benefit is ideal for healthcare professionals concerned about ongoing protection against potential claims of professional negligence or omission.
Similarly, the retirement contribution benefit ensures contributions continue into a policy holder's employer-sponsored 401(k) or other approved, qualified deferred compensation plan on their behalf should they become disabled.
"MGIS has always been committed to providing the elevated level of income protection that healthcare professionals require and deserve," explained Jeff Brunken, President of MGIS. "We're excited to now offer even greater choice in coverage to suit their specific lifestyle and risk profile."
Unique to MGIS comes the certainty that disability is defined based on a practitioner's own procedures as reflected in their actual CPT/CDT codes during the 12 months preceding their disability claim. This closely mirrors individual disability insurance and is considered the industry gold standard. Underwritten by certain underwriters at Lloyd's, incomeprotect® | HIGH LIMITS policies also come backed by the highest levels of financial strength, security, and stability.
Learn more about MGIS at www.mgis.com.
ABOUT MGIS
MGIS is a leading national insurance program manager experienced in building and managing specialized insurance programs for healthcare professionals. Since its inception in 1969, the company has partnered with the highest rated insurers and has focused exclusively on disability income-replacement and select specialty insurance coverages for healthcare professional practices of all sizes and types. Working with select brokers, MGIS manages insurance policies that are backed by Sun Life Financial and Certain Underwriters at Lloyd's. Services are provided by the following MGIS affiliated companies: The MGIS Companies, Inc., Medical Group Insurance Services, Inc. (DBA as MGIS Insurance Agency in CA and in NY), and MGIS Underwriting Managers, Inc. (DBA as MGIS Professional Insurance Solutions in CA and MGIS Underwriting Agency in NY).
ABOUT LLOYD'S
Lloyd's is the world's specialist insurance and reinsurance market.
With expertise earned over centuries, Lloyd's is the foundation of the insurance industry and the future of it. Led by expert underwriters and brokers who cover more than 200 territories, the Lloyd's market develops the essential, complex and critical insurance needed to underwrite human progress.
Backed by diverse global capital and excellent financial ratings, Lloyd's works with a global network to grow the insured world – building resilience for businesses and local communities and strengthening economic growth around the world.
SOURCE The MGIS Companies, Inc.
