ST. LOUIS, June 3, 2013 – Missouri Professionals Mutual (MPM), a leading provider of medical professional liability insurance in Missouri and Kansas, is making available to physicians in both states as much as $1.5 million in disability insurance for injuries and illnesses that interrupt or end their ability to practice medicine, it was announced today.
The new policy will enable Missouri and Kansas doctors to buy $500,000, $1 million or $1.5 million in lump sum disability insurance coverage, if they become disabled and can no longer perform their regular specialty and sub-specialty practice, said Timothy H. Trout, founder and managing director of MPM and president of MPM subsidiary, MPM Insurance Company of Kansas. The benefit is a guarantee issue, meaning no medical exams will be required.
“Our Missouri and Kansas doctors experience the same accidental injuries and illnesses as everyone else across the country,” Trout said. “While about 10 percent of all disabilities are related to various accidents, 90 percent of all disability claims are directly related to illnesses.
“Doctors are often healthier than the general population, but they too suffer accidents, and experience heart disease, cancer, strokes and other illnesses that interrupt or end their careers,” Trout added. “These unfortunate occurrences simply do not discriminate based on someone’s occupation.”
The new disability coverage – which is being offered by Lloyd’s of London — provides the highest guaranteed benefit for doctors in Missouri and Kansas without a medical examination, Trout said. He added that MPM was able to secure better terms and higher half-a-million dollar limits than previously offered in Missouri and Kansas.
Enrollment starts June 3, 2013 and runs through July 12, 2013. Current MPM and MPM-Kansas policyholders’ disability insurance premiums will be reduced by 10 percent, an amount offset through MPM’s sponsorship. There also will be a 10 percent discount applied for all enrollees, if they pay their premiums on an annual basis.
Importantly, premiums are guaranteed for five years, Trout said, adding the new disability policy would not offset any existing disability insurance coverage.
Interested physicians can visit www.hanleighenrollment.com/mpm to view rates and a brief video overview. The website also offers a detailed Q&A, and an easy on-line enrollment that can be completed in as little as five minutes. Credit cards are accepted for payment, Trout said. For more information please call 1-800-677-8644.