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 Hagan Benefits, Inc. / ACEP FAQs  Life Q: What kind of life policy is this? A: It is a term life policy. Q: Are the premiums level? A: The premiums are level for five years and will change at the 0 or 5 birthdays (example: age 30, 35, 40, 45). Q: Can I purchase this on my family? A: Yes, you can purchase coverage on your spouse for up to $250,000 and $5,000 on your children. Q: Do I need to name my spouse as beneficiary? A: No, you may select anyone as a beneficiary. Q: Do I need to be an ACEP member to enroll? A: Yes, you must be and remain an ACEP member to continue coverage; however, you can convert coverage. Q: Is there a waiver of premium option? A: Yes, after you have been on disability for six months you are eligible. Q: When applying for coverage will I need to get a physical? A: Blood and urine tests may be requested along with medical records and an attending physician statement (APS). Q: What premium modes can I select from? A: We offer Direct monthly ACH, Monthly, Quarterly, Semi-Annual and Annual. Q: How will my beneficiary make a claim on this policy? A: Claims can be made by calling Hagan Benefits. At that point, we will mail all of the appropriate forms immediately. Q: What forms must a beneficiary complete to receive the insurance benefit? A: The forms include a general claim form for the beneficiary, an attending physician statement and a request for a certified death certificate. Disability Q: Is this coverage occupation specific? A: Yes Q: Do I need to be an ACEP member to enroll? A:Yes, you must be and remain an ACEP member to continue coverage. Q: What premium modes can I select from? A: We offer Direct monthly ACH, Monthly, Quarterly, Semi-Annual and Annual. Q: Are the premiums level? A: The premiums are level for five years and will change at the 0 or 5 birthdays (example: age 30, 35, 40, 45). Q: When applying for coverage will I need to get a physical? A: Blood and urine tests may requested along with an attending physician statement (APS) and medical records. Q: If I go on disability, when does the wavier of premium begin? A: The wavier of premium begins the first day of the month following the start of the payment period. Q: What is involved in submitting a claim? A: Please contact Hagan Benefits and a claim form will be mailed to you immediately. Once the claim form is completed, return to Hagan Benefits and a claim representative from Hartford Insurance will be assigned. Q: What's covered? A: This plan provides monthly Disability Income benefits, including a Rehabilitative Employment benefit, Partial and Residual Disability benefits, and an HIV benefit, that are guaranteed renewable! It covers most disability due to accidental injuries, sickness or disease. See your Certificate of Insurance for a full description of these benefits. Q: Who's eligible? A: As a member of the American College of Emergency Physicians, you're eligible to apply for coverage. Applicants must be under age 65, Actively-at-Work at the time of application, and residing within the United States. To qualify for benefits, a period of total disability must begin while you are covered under this policy, and you are under the regular care of a physician for that condition. The physician cannot be a family member. Q: When will my coverage become effective? A: Your coverage will become effective on the first day of the month immediately following the date your application is approved by Hartford Life, provided you are actively at work and your initial premium payment has been received. If you are not actively at work on that date, your effective date will be postponed until you are actively at work for 90 consecutive days. Q: Can my coverage be canceled? A: No - Your coverage can only be canceled if: a) you are no longer a member of American college of Emergency Physicians; b) you do not pay your premiums; c) you cease to be actively at work (except by reason of disability covered by this plan); d) you attain the policy age limit; or e) the American College of Emergency Physicians withdraws sponsorship of the plan. If American College of Emergency Physicians withdraws its sponsorship and does not sponsor a similar plan, you can be converted to one of Hartford Life's other disability plans. Q: What are the benefit and waiting periods? A: You can receive disability benefits for up to 5 years or to age 65. The choice is yours. You may apply for monthly benefits in $100 increments from $500 up to $10,000 per month. See the Monthly Benefit Worksheet to calculate the amount of disability income insurance you're eligible to purchase. MONTHLY BENEFITS You may purchase the following amounts:
*Please note: Your benefit amount is limited to 66 2/3% of your monthly earned income. Benefits will be reduced by the amount of other income benefits you receive and by 50% of income derived from approved rehabilitation programs. Coverage ends at age 65. However, the maximum payment period may be reduced due to mental, emotional disorders, alcoholism or drug addiction, as specified in the Accident and Sickness Total Disability Benefit. See your Certificate of Insurance for details. WAITING PERIODS: Benefits begin after you have been totally disabled for 30,90 or 180 days, depending on the plan you select. The Waiting Period is the number of consecutive days at the beginning of a period of Total Disability which must elapse before benefits are payable.
Q: Is there any waiver of premium provision? A: Yes - Future premiums will be waived beginning the first day of the month following the start of disability payments and for as long as disability benefits are payable. Q: What is a total disability? A: A disability that results in a loss of earnings of 80% or more is considered to be a Total Disability. You'll continue to qualify for benefits up to Age65 (Plan I), or for up to 5 years (Plan II), if you cannot: perform the substantial and material duties of your own regular occupation; are under the care of a licensed physician other than yourself; and, are not gainfully employed in any occupation for which you are or become reasonably suited in terms of education, training or experience. Q: What if you return to work after a disability but suffer a relapse? A: Because disabilities don't always start and stop in easily defined time frames, we've developed a plan that is flexible enough to accommodate various disability durations and scenarios. If you return to work for fewer than 14 days during the waiting period and then relapse, you can qualify for benefits by satisfying the remainder of the waiting period. This provision relieves you of starting the entire waiting period again. In addition, periods of disability due to the same or related medical causes and separated by fewer than six months while you are actively at work, are considered a single period of disability. This means you won't have to satisfy a new waiting period before qualifying for benefits should you relapse upon returning to active employment after receiving benefits for a disability. Actively at work is defined as performing all the regular duties of an occupation for wage or profit on a full-time basis (at least 30 hours per week). Q: Does the plan pay for partial disability? A: Yes, your American College of Emergency Physicians plan provides benefits for partial disabilities following the Waiting Period and a period during which Total Disability benefits were payable. Partial disability means you are gainfully employed in your regular occupation or specialty on a partial and/or part-time basis, but continuously unable to perform your regular duties and you require the regular care of a physician. Q: What's not covered under this plan? A: Benefits are not paid for losses due to war or acts of war, whether declared or not; intentionally self-inflicted injury, suicide or attempted suicide, while sane or insane; pregnancy or childbirth, except Complications from Pregnancy; injury sustained while committing or attempting to commit a felony; losses due to sickness contracted or injury sustained while on full-time active duty as a member of the armed forces of any country or international authority; or injury or sickness arising out of or in the course of employment which is compensable under any Workers' Compensation or Occupational Disease Act or Law. If a Pre-Existing Condition was excluded or limited by name or specific description on a Health Waiver and Application Modification form attached to your Certificate of Insurance, then the Pre-Existing Condition will not be covered under this policy at any time, unless you complete an Application Requesting Removal of Waiver, and Hartford Life agrees, in writing, to remove the limitation on that condition. Long-Term Care Insurance Q: Who needs long term care insurance? A: Most people believe that they are covered for nursing care expenses. The fact is, Medicare, Medicare Supplement Insurance, and most medical insurance plans will not pay for most long-term care expenses. Participation in this program is obviously a matter of personal choice. Be assured, you are under no obligation. Q: Who is eligible? A: Members and employees of members of the American College of Emergency Physicians are eligible to purchase Long Term Care Insurance through this program. Eligibility is extended to spouses, parents, grandparents, children and grandchildren. The program provides for a discount in premium. There may be an additional premium discount available for married individuals. Q: Is coverage guaranteed? A: No. It is important that you apply for long term care insurance when you are in good health in order to get the policy issued and to have the best premium rates. However, we do have one carrier who is more willing to insure individuals with certain medical conditions than others. So please apply now. Q: What about the coverage effective date? A: You may request a specific effective date. Typically it is the first day of the month following your application approval. Q: May policies be paid up? A: In many states it is permissible to purchase a plan which can be paid up in ten years or even a one-time premium payment. Not all insurance companies offer such plans. Q: How much does it cost? A: Premiums for Long Term Care Insurance depend on age, health and medical history, marital status, your state of residence and the amount of Long Term Care Insurance you wish to have. The best time to buy long term care insurance is when you are in the best health and at the youngest age. Although there seems little difference in premium at younger ages, it is important to consider the effects of inflation and that more insurance is likely to be needed if you wait to purchase long term care insurance. Policy inflation protection starts to inflate benefits after the policy is issued, not after a claim begins. Q: What kind of plan is best? A: Many different combinations of benefits are available within Long Term Care Insurance policies. The flexibility of the policies will allow you to personally tailor your plan to your objectives and budget. Premiums are based upon benefit choices such as: Daily Benefit amounts $20 to $250 per day, Waiting periods for coverage to start range from the first day to 30, 90 and 180 days. Length of benefit periods you may select a range from Lifetime, five to three years. We suggest lifetime benefits with inflation protection. We suggest plans cover care received in nursing facilities, at home and community based care. To adjust premiums we suggest longer waiting periods for benefits to begin and to consider different amounts of daily benefit. We never suggest that you remove inflation protection. |
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Hagan Benefits, Inc. 1741 S. Cleveland Ave, Suite 200 P.O. Box 5090 Sioux Falls, SD 57117-5090 Email: info@hagangroup.com | Home | Company | Services | FAQs | Resources | Contact |