Why Do Brokers work with The MB Group in the Lloyd’s of London Marketplace?
- To provide high-limit disability coverage for their clients which is not available in the domestic marketplace.
- The MB Group has relationships with multiple coverholders which allows us to negotiate some of the lowest rates and terms available.
- Brokers who are accustomed to using one single coverholder may not be securing the best solutions for their clients.
Our brokers have access to:
- Personalized service / customized proposals
- Guarantee Issue (GSI) offers unique to our organization
- Level commissions for the life of the contracts
Lloyd’s of London available products offered:
If You Keep Your Traditional Disability Coverage After Age 65, You May NOT Qualify For Benefits
LIMITATIONS ASSOCIATED WITH “PAYABLE TO AGE 65 OR 67” TRADITIONALLY DESIGNED INDIVIDUAL DISABILITY INCOME CONTRACTS
Traditional disability income contracts provide inferior benefits upon reaching age 65/67. This presents problems for many individuals who are working past age 65 and rely on their disability coverage to insure their incomes.
Traditional individual disability contracts are inadequate following age 65 for the following reasons:
- Removal of own occupation definition – insured must be unable to perform the gainful duties of any occupation to collect benefits
- Maximum 2 year benefit period
- Removal of Residual/Partial benefits – benefits are only payable for total disability
- Premiums may increase at age 65 and increase yearly thereafter
- Coverage may not extend past age 70
- Yearly renewals may be subject to proof of insurability – medical questions
OUR SUPERIOR SOLUTION
The MB Group Disability Insurance Program addresses the limitations of traditional individual coverage and provides the following improvements beyond age 65:
- Own occupation definition of disability
- 5 year benefit period
- Benefits are payable for both total and residual/partial disabilities
- Premiums are guaranteed to remain level for 5 years
- Benefits may be payable to age 75