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Limited Benefit Term Principal policy vs NWM Policy

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  • Limited Benefit Term Principal policy vs NWM Policy

    Hello WCI Forum!

    Having been in my last year of training as a fellow, I have been applying for a disability policy (I know I'm a bit late on this!). Unfortunately, this has been met with some challenges due to a workup performed by a cardiologist during residency, despite no significant findings and a clean bill of health. I have been offered a policy from Principal with a 13k/mo benefit but a 5 year benefit limit. I was also offered a Northwestern Mutual policy with a 13k/mo benefit but no limit on the benefit period. The policies are similarly priced, and, given the definitions of true own occupation compared to the Northwestern definition, I am having a bit of trouble deciding which would be the better policy to go with. Any insight would be very helpful.

  • #2
    I would probably opt for the age 65 benefit period. Make sure the NWM is a fixed premium and get your rep to shop it against other carriers besides Principal.