Larry Keller

Larry Keller

[Editor’s Note:  This is a continuation of a guest post by Lawrence B. Keller, CFP®, CLU®, ChFC®, RHU®, LUTCF.  Part 1 can be found here.  We have no financial relationship.]

Part 1 focused on the contractual provisions of the disability insurance plan offered by the American Academy of Family Physicians (AAFP), underwritten by New York Life Insurance Company.  Part 2 will focus on the true cost of these plans.

Initial Premium Rates are Low

In my opinion, the only argument that one can make for purchasing association disability insurance coverage are the low premium rates they offer.  However, it that actually the case?  Let’s assume that a 35 year old male Family Practice Physician in the State of New York is considering the following options: