Tax-Free Disability Insurance Benefit for Physicians

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Corporate Compensation Plans, Inc. announced today a new disability benefit plan for Physicians that will pay them $1,000,000 in cash 12 months after a career ending accident or illness. The $1,000,000 disability insurance benefit is tax free, is in addition to benefits paid from their existing disability insurance policies, and is not offset by those benefits.

"When physicians become disabled they rarely have enough disability insurance to maintain their standard of living and continue to make contributions to their retirement plans because most insurance companies severely limit the amount of disability insurance benefits they can buy. As a result, they can suffer catastrophic losses in both their take home pay and their retirement benefits," said Philip Davis, CCP's President. He went on to say, "This new disability benefit plan will help solve that problem by paying $1,000,000 after an accident or sickness prevents them from practicing in their own specialty for a period of twelve months and they are not expected to be able to continue practicing in that specialty."

The $1,000,000 disability insurance benefit is available on a guaranteed issue basis to groups with as few as ten physicians at highly discounted rates - and working spouses of the physicians may also be able to qualify. Equally important, physicians can acquire their $1,000,000 of protection in addition to their existing disability insurance contracts.

A key benefit feature of the Plan is that the $1,000,000 benefit can be provided to physicians affiliated with a hospital or medical center as well as its own employed staff physicians and key administrators. As a result the Plan will help the hospital attract and retain the top medical talent as well as executive talent needed to compete in its service area.

"CCP is providing all of the administration and enrollment services for the $1,000,000 disability plan using our new communication program with e-signature and video capabilities," said Tasha Mayberry, CCP's Marketing Vice President. She went on to say, "We can also make this proprietary communication program available to consultants and brokers to help them bring this valuable new level of protection to their own clients."

Visit marketing.corpcompinc.com/acton/form/1541/0003:d-0001/0/index.htm to download your content-packed informational package on this powerful new supplemental disability insurance program.

For nearly 40 years Corporate Compensation Plans has been providing tax-advantaged benefit programs to many of the largest companies and law firms in the country. CCP specializes in disability insurance programs that help protect income and preserve wealth through no-cost solutions to the employer. Their goal is to enhance the financial security of employees and to help companies attract and retain the top talent needed to compete in today's global economy.

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Cite This Page (APA): Corporate Compensation Plans, Inc.. (2011, July 15). Tax-Free Disability Insurance Benefit for Physicians. Disabled World. Retrieved April 18, 2024 from www.disabled-world.com/disability/insurance/tax-free.php

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