Disability insurance especially for internists
ACP members have access to physician-exclusive rates and benefits.
Disability Income Insurance for Internists
Underwritten by New York Life Insurance Company
Your monthly expenses don't stop if you are unable to work due to a serious illness or injury. ACP’s Member Disability Insurance helps protect you and your family against severe financial hardship when you can’t work.
Your most important asset is your ability to earn your income as a physician.
Help protect your income with disability insurance designed to cover you as an internist, hospitalist or subspecialist. Portable coverage to layer on to employer insurance, or to establish an exclusively priced base of coverage.
Benefits designed for ACP members include:
- “Own specialty” disability definition means you receive benefits when you cannot work in your specialty. You will not be forced to work in another occupation.
- Monthly benefit levels up to $15,000.
- Qualify for coverage when working just 20 hours per week.
- Coverage is not tied to your job; it’s portable and can follow you through your career.
- Customize your coverage by choosing the waiting period that’s best for you.
*The current 20% premium credit is subject to change, however, the Disability Insurance coverage for ACP members has returned premium credits for several years.
Apply now for Member Disability Income Insurance TODAY!
Am I Eligible? How Much Can I Request?
If you are an ACP member, affiliate, physician or non-physician, under age 62, at FULL-TIME WORK, and a U.S. resident*, you are eligible to apply for a monthly benefit amount up to $15,000 (in $500 increments), provided the benefit you select, when combined with any other disability insurance you have or for which you are applying, does not exceed 66 2/3%** of your Average Monthly Income. Student members are not eligible unless working full-time.
Choice of Waiting Period: You also have a choice of four waiting periods before benefit payments begin: 30, 60, 90 or 180 days. A waiting period is the number of consecutive days that you must be disabled before benefits commence. Coverage with a longer waiting period is less expensive.
*Coverage is available in all states.
**If your other disability insurance is paid for by your employer, this is increased to 75%.
“FULL-TIME WORK” means the active performance of the regular duties of your normal occupation for pay or profit on the basis of at least 20 hours per week at the place such duties are performed.
Average Monthly Income: means, as of any date, a person’s average monthly wages, salaries, commissions, fees and any other amounts received by such person for personal services, including the cost of his or her fringe benefits and share of total surplus; except that: For a person in military service, average monthly income means, as of any date, the sum of such person’s Military Allowances and Special Pay, excluding basic pay. It does not include income from interest, dividends, rent, royalties, annuities, other insurance or other unearned income. average monthly income is computed before deduction of any income taxes or social insurance taxes and after deduction of normal and usual business expenses that are deductible for income tax purposes.
Covered Total Disability
This insurance is designed to pay monthly benefits if you are Totally Disabled. Benefits begin at the end of the waiting period, provided you are Totally Disabled.
“Totally Disabled” is defined as an incapacity from an illness or injury that you suffer while insured under the Policy, but only if such incapacity continuously prevents you from doing the material and substantial duties necessary to perform:
- For ACP Physician Affiliate Members: your regular occupation.
- For ACP Non-Physician Affiliate Members:
- during your selected waiting period and the following 24 months, your regular occupation;
- thereafter, any occupation for which you are qualified by reason of education, training or experience.
- For all other ACP Members: your medical specialty or specialties.
To be considered Totally Disabled, you must not be engaged in any gainful occupation.
Long Term Disability benefits can be paid up to age 67 when you are Totally Disabled before age 60. Other monthly total disability/residual/partial disability benefits can be paid up to certain limits:*
|For Disability Beginning
|Monthly Benefits May Continue
|Before age 60
|Up to age 67
|Up to 5 years
|Up to 4 years
|Up to 3 years
|Up to 2 years
|Age 67** to termination age
|Up to 1 year
*See Exclusions and Limitations
Note: Benefits for disabilities due to mental disorders are limited to a maximum of 24 monthly payments. Benefits for any disability that is due or related to alcoholic intoxication or the use of stimulants, hallucinogens or other controlled substances unless prescribed by a physician other than you are limited to 12 monthly payments.
This benefit is designed to help certain disabled individuals return to the work force. Under this provision, a professional rehabilitation staff reviews case histories and identifies those individuals who appear to have the greatest likelihood of rehabilitation. Individuals selected by New York Life Insurance Company will be offered the option of participating in a rehabilitation program at no cost to them. Participation is voluntary and benefits will not be reduced due to participation in the program. This benefit is limited to a maximum of 24 monthly payments.
School Loan Payment Benefit
If you suffer a permanent covered disability before age 45, this new benefit pays your financial lending institution up to $200,000 — in addition to your other benefits — to repay your eligible loans, including medical school tuition, living expenses, books and other fees. You must become insured prior to age 40 to be eligible for this benefit.
Partial Disability and Residual Benefit
If a covered illness or injury prevents you from performing some but not all of the substantial duties of your medical specialty(ies), you may be eligible for a Partial Disability Benefit. If, while recovering from a Total Disability, you are able to resume some but not all of said duties, you may be eligible for a Residual Disability Benefit provided you have not returned to Full-Time Work for six months or more. These benefits are based on a percentage of your pre–disability earning. To qualify for either the Partial Disability or Residual Disability benefit, you may not be earning more than 80% of your pre–disability AVERAGE MONTHLY INCOME and you must not have reached the Maximum Benefit Period. Refer to your Certificate of Insurance for more information on these benefits.
Cost of Living Benefit (Optional Coverage)
This option offers disability benefits that help keep pace with the rate of inflation. Monthly benefits will be adjusted annually from the date the waiting period begins. Adjustments may be made to the monthly benefit paid in the second and each succeeding year. The adjustment amount will be based on the consumer price index for urban consumers (CPI–U) up to a maximum 6% increase per year and an overall maximum increase of one times the original benefit. Once you are no longer disabled and benefit payments stop, the monthly benefit returns to the original option amount. This benefit only applies to disabilities commencing before you reach age 65.
Catastrophic Disability Benefit (Optional Coverage)
This benefit option pays you an additional 30% of your monthly benefit amount if your covered disability prevents you from performing two activities of daily living or results in a permanent cognitive impairment. You must be insured for a monthly benefit of at least $3,000 to be eligible. Refer to the Certificate of Insurance for more information.
The ACP leveraged the professional status physicians and non-physicians to negotiate the rates for this Insurance. This financial advantage helps the ACP’s Member Disability Income stand out in comparison to programs you may find on your own or through an employer.
The insurance cost is based on the waiting Period, Monthly Benefit, and on your attained age when coverage becomes effective. Cost increases on the April 1st anniversary date or immediately after the date you reach a higher age bracket. Premium contributions will vary depending upon the options and amounts chosen.
Current 2023 Semiannual Premium Rates per $1,000 Monthly Benefit
|30-Day Waiting Period
|60-Day Waiting Period
|90-Day Waiting Period
|180-Day Waiting Period
|Insured Member’s Age
|No Premium Credit
|20% Premium Credit*
|No Premium Credit
|20% Premium Credit*
|No Premium Credit
|20% Premium Credit*
|No Premium Credit
|20% Premium Credit*
Cost Of Living Benefit Option — Semiannual Premium Rates Per $1,000 Monthly Benefit
|Insured Member’s Age
|No Premium Credit
|20% Premium Credit*
Catastrophic Disability Benefit Option
Add this benefit for just 10% more of your premium amount shown above (if under age 60) or 20% more (if age 60 or over)!
For example, a member age 40 choosing the 180-day waiting period would pay just $6.24 more. (Semiannual 20% Premium Credit Rate of $62.40 x 10% = $6.24.)
Note: This increase in premium would apply to your base premium and Cost-of-Living premium if you choose both options.
+Renewal at age 62 and over.
*The current 20% premium credit is not guaranteed and subject to change, however, the ACP Member Disability Income Insurance has returned premium credits for several years.
The premium contributions shown reflect the current rate and benefit structure. Premium contributions may be changed by New York Life Insurance Company on any premium due date and any date on which benefits are changed. However, your rates may change only if they are changed for all others in the same class of insureds. For example, a class of insureds is a group of people with the same issue age. Benefit option amounts are not guaranteed and are subject to change by agreement between New York Life and the Trustees of the American College of Physicians, Inc. Insurance Trust.
Call 1-855-749-7908 for more information.
Effective Date: You will become insured on the date specified by New York Life Insurance Company provided the first premium contribution has been paid, satisfactory evidence of insurability is submitted, and you are at FULL-TIME WORK on that date. If you are not at FULL-TIME WORK coverage will not become effective until you return to FULL-TIME WORK for at least one full day, provided such day is within three months of the date insurance would have been effective and you are still eligible for insurance.
Payment of a premium contribution for insurance does not mean there is any coverage in force before the effective date specified by New York Life Insurance Company.
Note: There are instances where New York Life Insurance Company may be able to offer insurance, at the same cost, by eliminating coverage for a specific impairment or disease.
When Coverage Ends: Once coverage is validly in force, it may be continued to the April 1st anniversary date on or immediately after you reach age 70. Coverage will end earlier if: you cease FULL–TIME WORK other than for reasons of disability, cease to be an ACP member, fail to pay premium contributions when due, or the policy is modified or terminated by the policyholder or New York Life Insurance Company to end insurance on the group of insureds to which you belong.
Benefits for Recurring Disability: Successive periods of disability, which are due to the same or related causes, will be considered a single period of disability unless separated by return to FULL–TIME WORK for six consecutive months or more. Separate, unrelated periods of disability will be considered a single period of disability unless separated by a return to FULL-TIME WORK of at least one full day.
Waiver of Premium: After you have been Totally Disabled for 90 consecutive days or your waiting period, whichever is greater, and you begin to receive benefits for Total Disability, all future premium contributions will be waived for as long as you receive benefits for that disability.
School Loan Payment Benefit: If you suffer a permanent covered disability before age 45, this new benefit pays your financial lending institution up to $200,000 — in addition to your other benefits — to repay your eligible loans, including medical school tuition, living expenses, books and other fees. You must become insured prior to age 40 to be eligible for this benefit.
Exclusions And Limitations
The Policy does not provide benefits for any disability that occurs during or is due or related to: intentionally self–inflicted injury while sane or insane; declared or undeclared war or any act thereof; or incarceration for or participation in (except as a victim) an illegal occupation/activity or the commission of a crime; PRE–EXISTING CONDITION (except as noted below); or any impairment or disease specifically excluded from your coverage.
No benefits are payable for any disability for which you are not under the regular care of a licensed physician or surgeon other than yourself, your business associate, or member of your immediate family or household.
The Policy limits benefits for disabilities due to mental disorders to 24 months. Benefits for disabilities due to the voluntary intake of alcohol or narcotics/controlled substance (unless prescribed by a doctor other than yourself) are limited to 12 months.
Pre-existing condition: is an injury or illness for which you consulted a physician, took medication, or received medical services or supplies during the immediate 12–month period prior to becoming insured under this Policy. Benefits are not payable for a disability due to a PRE–EXISTING CONDITION until the end of the earlier of 12 consecutive months during which you have not consulted a physician, took medication, or received medical services or supplies, or; 24 months.
The ACP Insurance Trust incurs costs in connection with this sponsored Program. To provide and maintain this valuable membership benefit, it is reimbursed for these costs.
P.O. Box 9947
Phoenix, AZ 85068-9952
A.G.I.A., Inc., is licensed/authorized to transact business in all 50 United States, and the District of Columbia. Their state of domicile is California. J. Christopher Burke California Agent license number is 0F70947. J. Christopher Burke Arkansas Agent license number is 8876308.
New York Life Insurance Company
51 Madison Avenue, New York, NY 10010
under Group Policy G-29030-0 on
Policy Form GMR-FACE/ G-29030-0
New York Life is licensed/authorized to transact business in all the 50 united states, District of Columbia and Puerto Rico. New York Life Insurance Company’s state of domicile is New York and their NAIC ID # is 66915.
Apply through our online portal today!
- Visit the link below to view the online application.
- Please complete all fields on the online form.
- Conveniently submit your application online.
If you do not wish to apply online, you may also download the application below, and mail in your completed application using the instructions below.
Questions? Call ACP Member Insurance Program Customer Service number at 1-855-749-7908.
Important Information from New York Life Insurance Company
New York Life Insurance Company reserves the right to request medical information to determine applicant’s medical eligibility for coverage. Based on the age of the person proposed for insurance and the amount of coverage requested, a physical examination, EKG, blood test or other information may be required. Not all applicants will have to supply additional information. However, if it is required, New York Life will arrange for an independent professional paramedic to contact you to perform these simple tests at your convenience. The exam and blood test are free-of-charge. If we can provide the coverage you requested, we will inform you as to when such coverage will be effective. Under no circumstances will coverage be effective prior to this date. Payment of a premium contribution with your application does not mean that there is any insurance in force before the effective date as determined by New York Life.
How New York Life Obtains Information and Underwrites Your Request for the ACP Member Disability Income Insurance
Information regarding insurability will be treated as confidential. In considering your request for insurance, we will rely on the medical information you provide, and on the information you authorize us to obtain from your physician, other medical practitioners and facilities, other insurance companies to which you have applied for insurance and MIB, LLC. (formerly known as Medical Information Bureau). MIB and other insurance companies may also furnish New York Life, its subsidiaries or the plan administrator with non-medical information (such as driving records, past convictions, hazardous sport or aviation activity, use of alcohol or drugs, and other application for insurance). The information provided may include information that may predate the time frame stated on the medical questions section, if any, on this application. This information may be used during the underwriting and claims processes, where permitted by law.
New York Life may release this information to the Plan Administrator, other insurance companies to which you may apply for life and health insurance, or to which a claim for benefits may be submitted and to others whom you authorize in writing, however, this will not be done in connection with test results concerning Acquired Immune Deficiency Syndrome (AIDS) or Human Immunodeficiency Virus (HIV). We may also make a brief report of your protected health information to MIB, but we will not disclose our underwriting decision.
New York Life will not disclose such information to anyone except those you authorize or where required or permitted by law. Information in our files may be seen by New York Life and Plan Administrator employees, but only on a “need to know” basis in considering your request. Upon receipt of all requested information, we will make a determination as to whether your request for insurance can be approved.
If we cannot provide the coverage you requested, we will tell you why. If you feel our information is inaccurate, you will be given a chance to correct or complete the information in our files. Upon written request to New York Life or MIB, you will be provided with non-medical information. Generally, medical information will be given either directly to the proposed insured or to a medical professional designated by the proposed insured. Your request is handled in accordance with the Federal Fair Credit Reporting Act procedures. If you question the accuracy of the information provided by MIB, you may contact MIB and seek a correction. MIB’s information office is: MIB, LLC., 50 Braintree Hill Park, Suite 400, Braintree, MA 02184-8734, telephone 866- 692-6901. For Canadian residents, the address is: MIB Information Office, 330 University Avenue, Suite 501, Toronto, Ontario, Canada M5G 1R7, telephone 416-597-0590. Information for consumers about MIB may be obtained on its website at www.mib.com.
For NM Residents: PROTECTED PERSONS1 have a right of access to certain CONFIDENTIAL ABUSE INFORMATION2 we maintain in our files and they may choose to receive such information directly. You have the right to register as a PROTECTED PERSON by sending a signed request to the Administrator at the address listed on the application. Please include your full name, date of birth and address.
1PROTECTED PERSON means a victim of domestic abuse: who has notified us that he/she is or has been a victim of domestic abuse; and who is an insured person or prospective insured person.
2CONFIDENTIAL ABUSE INFORMATION means information about: acts of domestic abuse or abuse status; the work or home address or telephone number of a victim of domestic abuse; or the status of an applicant or insured as family member, employer or associate of a victim of domestic abuse or a person with whom an applicant or insured is known to have a direct, close, personal, family or abuse-related relationship.
New York Life Insurance Company 8.12 ed.
If we can provide the coverage you requested, we will inform you as to when such coverage will be effective. Under no circumstances will coverage be effective prior to this date. Payment of a premium contribution with your application does not mean that there is any insurance in force before the effective date as determined by New York Life.
Questions? Call toll-free 1-855-749-7908.
When program experience has been good New York Life Insurance Company will periodically return excess premiums in the form of dividends to the ACP as the policyholder. The ACP will retain these dividends in a Dividend on Deposit Account with New York Life. The ACP will in turn periodically make these dividends available through premium credits to existing insureds in the programs which generated the dividends. Sufficient reserves will be retained by the ACP in the Dividend on Deposit Account to cover administrative and marketing costs generated by the New York Life Insurance Programs sponsored by the ACP. These programs are administered together to take advantage of the savings resulting from this integrated approach.
Administrative expenses incurred by the ACP to provide the valuable membership benefits resulting from these sponsored insurance programs are reimbursed from available program dividends. New York Life may also, out of premium, pay a reasonable fee to the ACP for making the ACP assets available to it to promote these programs to the membership. These assets include the ACP Intellectual Property Rights and mailing lists of eligible members.
30-DAY FREE LOOK
If you’re not completely satisfied with the terms of your Certificate of Insurance, you may return it, without claim, within 30 days. Your coverage will be invalidated, and you will be sent a full refund, no questions asked!
When you become insured, you will be sent a Certificate of Insurance, summarizing your coverage. This website is only a brief description of some of the principal provisions and features. The complete terms are set forth in the group policy issued by New York Life Insurance Company to the Trustees of the American College of Physicians, Inc. Insurance Trust.
Questions? Call ACP’s Customer Service Phone number at 1 (855) 749-7908.
Underwritten by New York Life Insurance Company, 51 Madison Avenue, NY, NY 10010 under Policy Number G-29030-0 on Policy Form GMR-FACE/G-29030-0. Before applying, be sure to read through all tabs of this website to learn more about this coverage, including features, costs, eligibility, renewability, limitations, and exclusions.