PROTECT YOUR GREATEST ASSET, THE ABILITY TO EARN AN INCOME

If you experienced a career-ending disability, how would you continue your lifestyle and fund your retirement planning? The Iowa Bar Association is providing you an exclusive opportunity to protect your family’s future with Income Protection through Lloyd’s of London.

The program highlights are below:

  • Lump sum benefit options available up to 10x your annual income, not to exceed $2,000,000.
  • Benefits are available regardless of existing long-term disability coverage you may have.
  • Own Occupation definition of disability
  • Discounted premiums
  • No health or financial evidence needed. Only requires one actively at work question.
  • Benefits are paid tax-free at time of claim.
  • 365 day coverage waiting period.

WHAT ARE YOUR CHANCES OF NOT BEING ABLE TO EARN AN INCOME?

We call it your Personal Disability Quotient. It's a way to calculate your odds of an injury or illness that could force you to miss work for weeks, months, even years.

Why is your PDQ so important? Because your income is important! How else will you afford all the things that are important to you — your home, your family's lifestyle, your children's education, your own retirement?

The likelihood of you becoming sick or injured and unable to work is higher than you probably imagined. The PDQ is an easy way to calculate your own personal odds and discover what's really at stake. Then we'll give you some tips on how you can prevent disability from downgrading your lifestyle and devastating your savings.

COVERAGE OPTIONS

You have the ability to purchase up to 10x your annual income.  We've created 4 coverage level options for you to choose from so that you can align coverage with what's most appropriate for you and your family.

  • Benefits are paid in the event of a career-ending disability
  • 365 day benefit waiting period
  • Own Occupation definition of disability
  • Discounted rates
  • No medical exams & easy enrollment (if elected now).
  • Five-year contract duration. Your rates are secured at your current age and will not increase during the five-year contract.
  • Tax-free benefits. You pay the premiums with after-tax dollars; the benefits are not subject to taxes.

Don’t let your busy schedule get in the way of protecting your eligible earnings. Take advantage now, as this enrollment may be your only opportunity to obtain coverage with these unique advantages. This is a limited enrollment period.

ABOUT LLOYD'S OF LONDON

Lloyd's of London

In the 17th century, London’s importance as a trade center led to an increasing demand for ship and cargo insurance. Edward Lloyd’s coffee house became recognized as the place to obtain marine insurance and this is where the Lloyd’s that we know today began. From those beginnings in a coffee house in 1688, Lloyd’s has been a pioneer in insurance and has grown over 325 years to become the world’s leading market for specialist insurance.

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 individual protection.

Backed by diverse global capital and excellent financial ratings, Lloyd’s works with a global network to grow the insured world. Our current market ratings are:

Standard & Poor's: A+ (Strong)
Fitch Ratings: AA- (Very Strong)
A.M. Best: A (Excellent)

 

Petersen International Underwriters

Petersen International Underwriters (PIU) is a Lloyd’s of London Coverholder who administers unique and proprietary insurance products in a similar fashion to that of a traditional insurance company. Lloyd’s has granted binding authority to PIU due to their expertise in the personal disability insurance market.

PIU provides insurance solutions for disability, life, medical and contingency risk. Using the strength of the global insurance markets, they have the underwriting capabilities and enhanced benefit limits that traditional insurance companies can’t or won’t provide. For nearly 40 years, PIU has been recognized nationally and internationally for their expertise and innovation they have brought to the Disability, life and health insurance industry.

FREQUENTLY ASKED QUESTIONS

How do I qualify for benefits?

If you are unable to perform the duties of your job due to illness or injury for 365 days and are not expected to return to work in that capacity, you are eligible to receive benefits. This coverage is designed to protect you and your family in the event of a career-ending event caused by a disability.

Why permanent disability coverage through Lloyd’s of London?
If you do not have any level of coverage today, you and your family have a high degree of exposure. If your paycheck suddenly stopped, how would you be able to maintain your lifestyle?
I have disability coverage through my employer, so this does not apply to me, right?
Group Long-term disability insurance through your employer is a great benefit but rarely protects you the way you believe. Most plans protect up to 60% of your income, however, income is usually defined as salary and there is always a monthly maximum. If you have any type of incentive compensation and/or you are a high-income wage earner, you most likely fall well short of having the income replacement you need. Also, if your employer pays for the coverage then the benefits are subject to tax, just like ordinary income.
My employer provides coverage and my financial advisor helped me purchase an individual plan to cover the gap mentioned above. My advisor said I couldn’t purchase anything more than what I have. Can I get more coverage through this program?
Yes you can. Any coverage you have today has no impact on what you can purchase through this program.

Why is this coverage offered to me?

This coverage is being offered to you as an active member of The Iowa State Bar Association. It is a benefit provided to you with an association premium discount.

What is being offered to me through this program?
Lloyd’s of London is providing a lump sum benefit program that is payable in the event of a permanent disability due to illness or injury. Multiple levels of coverage are available to help maintain your lifestyle, future earnings, and retirement savings in the event of a debilitating disability.
When does my coverage become effective?
If you complete the application process and are accepted, your coverage will begin on the 1st of the month following your enrollment.
What do I need to complete for obtain this coverage?
Typically, to obtain additional disability coverage on an individual basis, you would need to go through complete medical and financial evidence, which may take 60-90 days. This coverage is offered to you on a Guaranteed Standard Issue basis which removes the underwriting restrictions and only requires the applicant to complete an actively at work question.
Actively at work means for the 60 days prior to and including the active date of coverage under this plan of insurance you have been working and/or has had the ability to engage in your occupation for the usual number of hours required to perform the important duties of your recognized occupation or you are a full time medical student.
Can I increase my benefit amount in the future?
If the plan is still active with your association, the intent is that you can increase in the future without additional underwriting.
What will trigger a claim?
A personal, career ending disability.
Who owns the policy?
This coverage is individually owned, and fully portable.
Can the policy be cancelled?
Lloyd’s of London cannot cancel the policy as long as your premium payments are up-to-date for the five years the coverage is guaranteed. If you decide you no longer want the coverage, you may cancel the policy at any time.
How are premiums collected?
Premiums can be paid by credit card or automatic draft from the bank account set up of your choosing.

GUARANTEED ISSUE DISABILITY INCOME INSURANCE

We, Certain Underwriters at Lloyd’s, agree to pay the benefits indicated on the Schedule of Benefits page of this Certificate and according to the Certificate provisions. We issued this Certificate to the Owner in consideration of: (1) The statements made in the application or declaration form; and (2) Payment of the premium.

As long as the Owner pays the premiums for this Certificate by the end of each grace period, We cannot change any part of this Certificate until the expiry date unless agreed by You and Us. Coverage under this Certificate will begin on the effective date at 12:01 A.M. Coverage will end on the expiry date at 12:01 A.M. All times will be the Local Standard Time at the address stated on the Declaration Page.

This Certificate will not become effective until the initial premium has been paid.

The Owner has the right to return this Certificate if not satisfied for a full refund of any premium paid provided the Owner does so within ten (10) days after the receipt of this Certificate. The Certificate must be returned to Us. The Certificate will then be void from inception.

Read this Certificate carefully. It is a legal contract between the Owner and Us.

Executed By
Petersen International Underwriters
23929 Valencia Boulevard, Second Floor, Valencia, CA 91355 800-345-8816