The Amber Stitt Show

Send us Fan Mail

📻 Thank you for tuning in to The Amber Stitt Show!

🔗 Connect with Amber on Social Media:

• AMBER’S INSTAGRAM 
• AMBER’S LINKEDIN 
• AMBER’S FACEBOOK 

📲 Be sure to visit Amber's website:

www.AmberStitt.com

📲 To schedule a consultation with Amber please click here.

🎬 And remember, let's take action today!!!

===================

💻 Content Creators, Here Are Must Have Apps:

🔥 Opus Clips AI Creates Short Videos From Your Full Length Videos: https://www.opus.pro?via=909178

🔥 For Blogs, Descriptions, & AI Generated Text Needed for Your Project: https://www.castmagic.io/?via=amber

Send us Fan Mail

In this episode, Scott and I discuss the Catastrophic Rider that can be added to an Own Occupation Disability Insurance plan.

Catastrophic events occur if you are on a disability insurance claim but also have 2 of 6 activities of daily living that you cannot perform. This then triggers the additional insurance benefit on top of the base benefit.

This is the high-level definition and each insurance carrier has specific contract provisions, specific to that carrier and not every state offers this rider. Although the CAT provisions can be a little different between each carrier but overall; the ADLs are what trigger the additional coverage.

This one feature isn't as expensive as COLA and we have a mix of clients that purchase it. Often, with the ADL loss; many can get better before their elimination period is up so some question the value. It is certainly a personal choice and I have one of these on my disability insurance contract.

Please tune in as this episode should help you to determine if you want a CAT rider or would like to remove one off of your contract.

Thanks for listening!

📻 Thank you for tuning in to The Amber Stitt Show!

🔗 Connect with Amber on Social Media:

• AMBER’S INSTAGRAM 
• AMBER’S LINKEDIN 
• AMBER’S FACEBOOK 

📲 Be sure to visit Amber's website:

www.AmberStitt.com

📲 To schedule a consultation with Amber please click here.

🎬 And remember, let's take action today!!!

===================

💻 Content Creators, Here Are Must Have Apps:

🔥 Opus Clips AI Creates Short Videos From Your Full Length Videos: https://www.opus.pro?via=909178

🔥 For Blogs, Descriptions, & AI Generated Text Needed for Your Project: https://www.castmagic.io/?via=amber

Send us Fan Mail

In this episode, Scott and I explain one of the definitions of disability, often found in group contracts at work. When you see a contract at work that states it is Own Occupation but is free to you, that is a good indication that there are some rules behind the scenes that modify the payouts if you are disabled and working in any other job.

Often, physicians and other medical professionals are automatically given these contracts for free through the employer OR they buy these plans; either because they want to supplement the free one or there isn't a free one. 

Our Group vs. Private Contract video is here:  https://youtu.be/7enAnIXXJxg

If you want a disability insurance review, please print our FREE CHECKLIST, then schedule a time to discuss your plan here: https://www.mddisabilityquotes.com/schedule-a-meeting

📻 Thank you for tuning in to The Amber Stitt Show!

🔗 Connect with Amber on Social Media:

• AMBER’S INSTAGRAM 
• AMBER’S LINKEDIN 
• AMBER’S FACEBOOK 

📲 Be sure to visit Amber's website:

www.AmberStitt.com

📲 To schedule a consultation with Amber please click here.

🎬 And remember, let's take action today!!!

===================

💻 Content Creators, Here Are Must Have Apps:

🔥 Opus Clips AI Creates Short Videos From Your Full Length Videos: https://www.opus.pro?via=909178

🔥 For Blogs, Descriptions, & AI Generated Text Needed for Your Project: https://www.castmagic.io/?via=amber

Send us Fan Mail

In today's episode, Scott and I discuss ways that your elimination period, otherwise known as a waiting period, can be waived under the Presumptive Disability Rider.

These are *free on almost any disability plan out there, as it stands today, but this could change over time.*

If your waiting period is waived, something serious has happened. Nonetheless, we want you to know the rules on this which can help you decide which waiting period to buy.

There are two carriers that don't require the situation to be permanent, the issue doesn't have to be irrevocable. Take a listen and let us know if you have any questions for our team.

Our Elimination Period video is here for reference: https://youtu.be/52oWPKYFyBk.

📻 Thank you for tuning in to The Amber Stitt Show!

🔗 Connect with Amber on Social Media:

• AMBER’S INSTAGRAM 
• AMBER’S LINKEDIN 
• AMBER’S FACEBOOK 

📲 Be sure to visit Amber's website:

www.AmberStitt.com

📲 To schedule a consultation with Amber please click here.

🎬 And remember, let's take action today!!!

===================

💻 Content Creators, Here Are Must Have Apps:

🔥 Opus Clips AI Creates Short Videos From Your Full Length Videos: https://www.opus.pro?via=909178

🔥 For Blogs, Descriptions, & AI Generated Text Needed for Your Project: https://www.castmagic.io/?via=amber

Send us Fan Mail

In this Physician Edition episode, Scott and I discuss how the "COLA" Cost of Living Adjustment Rider works so you can decide whether or not you would prefer this on your contract. 

We are specifically focusing on Own Occupation/Specialty disability insurance contracts here when we discuss the need for the value per person. *Other financial products may require a different viewpoint.*

Not all COLA riders are made the same. 

-Some are 3% simple interest (Ameritas and OhioNational have this)
-Some are 3% compounding interest (Guardian, MassMutual and Standard have this)
-Some are 6% compounding interest (some let you select this if you want to)
-Some are floating 0-3% compounding interest (Principal is compounding but floats)
-Some are 0-6% or 2-6% compounding interest (Ameritas and OhioNational have this version)

📻 Thank you for tuning in to The Amber Stitt Show!

🔗 Connect with Amber on Social Media:

• AMBER’S INSTAGRAM 
• AMBER’S LINKEDIN 
• AMBER’S FACEBOOK 

📲 Be sure to visit Amber's website:

www.AmberStitt.com

📲 To schedule a consultation with Amber please click here.

🎬 And remember, let's take action today!!!

===================

💻 Content Creators, Here Are Must Have Apps:

🔥 Opus Clips AI Creates Short Videos From Your Full Length Videos: https://www.opus.pro?via=909178

🔥 For Blogs, Descriptions, & AI Generated Text Needed for Your Project: https://www.castmagic.io/?via=amber

Send us Fan Mail

📻 Thank you for tuning in to The Amber Stitt Show!

🔗 Connect with Amber on Social Media:

• AMBER’S INSTAGRAM 
• AMBER’S LINKEDIN 
• AMBER’S FACEBOOK 

📲 Be sure to visit Amber's website:

www.AmberStitt.com

📲 To schedule a consultation with Amber please click here.

🎬 And remember, let's take action today!!!

===================

💻 Content Creators, Here Are Must Have Apps:

🔥 Opus Clips AI Creates Short Videos From Your Full Length Videos: https://www.opus.pro?via=909178

🔥 For Blogs, Descriptions, & AI Generated Text Needed for Your Project: https://www.castmagic.io/?via=amber

Send us Fan Mail

In this episode, we discuss what the Residual Rider is, as many don't know this is the Partial Disability Rider on the Own Occupation (Physician Specific) Disability Insurance contracts. 

Now which Residual Rider is best for you? There are two kinds and some offer longer recovery coverage while some don't offer any at all. 

Some specialties don't have a hard time transitioning back to practice after suffering a disability, as their typical base compensation will be restored upon return which is typical of an employment contract. 

But some specialties and subspecialties often have a timeframe that their income needs time to ramp back up and get back on track; especially if that specialty/subspecialty is production-based and/or in a private practice/group setting.  

The "Basic" residual rider sometimes doesn't include help for income loss after transitioning back to work. Some carrier's basic rider does. You may want to inquire about the "Enhanced" version, which allows for recovery of income; after recovering from a disability; all depending on the carrier you are working with.

Today we discuss:

•  What is a residual rider?
• What % of your income must be lost before you trigger the benefits?
• How residual riders are not all built the same
• If you have a recovery rider built into the residual rider

How to calculate the residual rider payout after triggering your benefits

Please let us know if you have specific questions on these elements and/or would like a review of your current plan. 

To schedule your consultation, please click here: https://www.mddisabilityquotes.com/sc...

📻 Thank you for tuning in to The Amber Stitt Show!

🔗 Connect with Amber on Social Media:

• AMBER’S INSTAGRAM 
• AMBER’S LINKEDIN 
• AMBER’S FACEBOOK 

📲 Be sure to visit Amber's website:

www.AmberStitt.com

📲 To schedule a consultation with Amber please click here.

🎬 And remember, let's take action today!!!

===================

💻 Content Creators, Here Are Must Have Apps:

🔥 Opus Clips AI Creates Short Videos From Your Full Length Videos: https://www.opus.pro?via=909178

🔥 For Blogs, Descriptions, & AI Generated Text Needed for Your Project: https://www.castmagic.io/?via=amber

Send us Fan Mail

In this episode, I share the common reasons why a medical professional would need to purchase an Own-Occupation, Specialty Specific Disability Insurance Plan. I discuss why you should protect your income with one of the  'Big 6' Disability Insurance Carriers. This episode covers most of the common questions physicians ask of my team while visiting The White Coat Investor's website and/or conferences. This should supplement any information that is gathered from visiting that site or forum.

Whether you are a physician, dentist, or another medical professional, this type of insurance will protect against the inability to work due to an illness or injury; while allowing you to collect an income from another source. 

This allows to you double-dip and collect both an insurance check after a disabling event PLUS allows you to keep any other income sources that may be available to you. This is typically the opposite of what is found inside your employment benefit disability insurance. Those are often limited to 5-years of coverage and offsets, reduces or eliminates your benefits if you are disabled and able to work in any other job.

Own-Occupation plans can layer over the group plans you have through your jobs and are portable. We dive into why these are so important for you to have on your own.

Typically we recommend you purchase your ‘Own Occupation’ plan while you are young and healthy. By doing so, you can rate lock your plan, be able to buy more coverage as an attending regardless of your risk factors, and have no exclusions on your policies.

Today we discuss:

• When should you buy your own specialty coverage?
• Who should you buy your income protection from?
• What type of contract definition makes sense for your specialty?
• How to collect income while disabled
• How to obtain a portable plan as you move through the practice
• How to get your rates to renew each year as you age 
• How to protect yourself against future underwriting
• How to guarantee no offsets if you have other income sources
  
  Disability Insurance Vocabulary:
  
  PURE OWN OCCUPATION: The inability to perform the material and substantial duties of your occupation, even if gainfully employed in ANY other job; due to a disabling event. *This is what we discuss today.*
  
  TRANSITIONAL OCCUPATION: If you are unable to work in your specialty due to a disabling event, full benefits are payable to you but if you are working in another job; benefits can be reduced.
  
  OWN SPECIALTY AND NOT ENGAGED: If you are unable to work in your specialty due to a disabling event, full benefits are payable if you are NOT working in another occupation.
  
  OWN SPECIALTY FOR A LIMITED TIME, THEN ANY REASONABLE OCCUPATION: If you are unable to work in your specialty due to a disabling event, full benefits are payable for a limited time period and is usually 24-months.

I hope you enjoy the material! Thank you for tuning in!

📻 Thank you for tuning in to The Amber Stitt Show!

🔗 Connect with Amber on Social Media:

• AMBER’S INSTAGRAM 
• AMBER’S LINKEDIN 
• AMBER’S FACEBOOK 

📲 Be sure to visit Amber's website:

www.AmberStitt.com

📲 To schedule a consultation with Amber please click here.

🎬 And remember, let's take action today!!!

===================

💻 Content Creators, Here Are Must Have Apps:

🔥 Opus Clips AI Creates Short Videos From Your Full Length Videos: https://www.opus.pro?via=909178

🔥 For Blogs, Descriptions, & AI Generated Text Needed for Your Project: https://www.castmagic.io/?via=amber