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Issue Age
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Coverage
| Benefit period | Short term: 12 months Long term: 12 to 60 months, or up to age 67 |
|---|---|
| Waiting period | Short term: 30 days Long term: 2, 3, 6 or 12 months |
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Shannon Terrell is a writer for finder.com who studied communications and English literature at the University of Toronto. On any given day, you can find her researching everything from equine financing to merchant account providers. She loves hot coffee, the smell of fresh books and discovering new ways to save her pennies.
If you’re in a medical profession, you may find that this provider has a lot to offer — including a straightforward application process and AMA member discounts. However, it doesn’t offer policies in New Hampshire, Utah, Vermont or Washington.
If you’re not a physician or studying to become one, compare disability insurance companies to find coverage that suits your needs.
Yes — if you’re healthy and haven’t recently travelled to any high-risk areas, you can sign up for a disability policy.
If you want to purchase a policy purely to protect your income in case you contract coronavirus, it’s worth choosing a shorter waiting period. That way, your benefits will kick in sooner if you do get sick.
Will disability insurance cover the coronavirus?
Online reviews of AMA Insurance are scarce — probably because this provider’s products are only offered to doctors and medical students. However, AMA Insurance is a subsidiary of the American Medical Association, which has an A+ Better Business Bureau (BBB) rating. The BBB has recorded 10 complaints in the last three years, which is relatively low for an insurance company.
A strong financial strength rating means your insurer has the financial resources to pay benefits when the time comes.
AMA Insurance policies are underwritten by New York Life Insurance Company, one of the largest insurance companies n the US. It scores top marks with the major ratings agencies in the US.
| Agency | Rating |
|---|---|
| AM Best | A++ (Superior) |
| Moody’s | Aaa |
| Standard & Poor’s | AA+ |
| Fitch | AAA |
| J.D. Power | – |
If you’re eligible for SSDI benefits, your monthly benefit amount will be based on your average lifetime earnings before your disability began. It’s not determined by your current income or the severity of your disability.
The maximum monthly benefit in 2020 is $3,011, and the average payment is $1,258.
To determine how much money you’ll get if you become disabled, use the benefit calculator on the Social Security website.
After you submit your application, you’ll receive a call from ExamOne to review your health history and potentially schedule a medical exam. After medical information is submitted and reviewed, an AMA plan administrator will contact you to let you know if you’ve been approved.
AMA Insurance is a subsidiary of the American Medical Association — the largest association of physicians and medical students in the US. The AMA was founded in 1847 to increase standards of medical education and ethics in all public health sectors across the US.
Since 1988, AMA Insurance has offered insurance products to doctors and medical students with physician-oriented policies, programs, benefits and riders.