MR Insurance Consultants Releases Tips on How Staff Veterinarians Can Obtain Disability Insurance for Less

(PRWEB) June 28, 2012

MR Insurance Consultants, a financial services firm assisting interested consumers with obtaining individual disability insurance, is providing veterinary practice owners with insight on how to assist their staff veterinarians in obtaining quality individual disability insurance at no cost to the business. By structuring and offering a multi-life voluntary income protection program, veterinary practice owners may be able to attract/retain talented employees while also keeping overhead low.

VOLUNTARY BENEFIT
A voluntary program allows veterinary practice owners to offer quality individual disability insurance to their employees on a voluntary basis. This can be offered to all employees or just a select class of employees, such as veterinarians exclusively. Since this type of program is voluntary, those employees who are interested in obtaining disability insurance can and those who aren’t, are not obligated. More importantly, staff veterinarians are provided a convenient resource for obtaining disability insurance at no cost to the practice. Additionally, this can help supplement group coverage that you or your employees may already have.

DISCOUNTED PREMIUMS
So long as three or more employees elect to obtain coverage, each applicant will gain access to a discounted premium. For any employee applying under this type of program, a minimal 10% discount may be applicable for the life of the policy, even if that particular employee leaves the practice.

Under some circumstances, these programs could also offer a unisex rate schedule which can significantly reduce the cost for female employees beyond the 10% discount. Since women are statistically a greater risk for disability than men, individual disability insurance premiums for women are generally more costly than for men. By participating in a voluntary program with unisex rates women can be provided with significant premium savings in comparison to independently obtaining individual disability insurance outside of these programs.

INDEPENDENTLY OWNED
Individual disability insurance policies obtained under a multi-life voluntary program are independently owned by each employee. Therefore any policy purchased under this type of program is completely portable and specifically relevant to the insured person, whether he/she changes employer or even occupation. This provides employees with quality income protection and independence, while requiring little time and effort from practice owners.

ABOUT MR INSURANCE CONSULTANTS    
Founded in 2008 by Michael L. Relvas CFP®, MR Insurance Consultants is a financial services firm assisting interested consumers with income protection planning. The company was started based on the principle of providing unbiased and personalized information to help interested consumers make an educated decision when purchasing disability insurance. If you would like additional information or assistance with disability insurance for veterinarians or establishing a multi-life VIP program contact Michael Relvas at 800-817-4522.

Michael L. Relvas, CFP® is a Financial Advisor of Park Avenue Securities LLC (PAS), 1355 Piccard Drive, Suite 380 Rockville, MD 20850, (240) 683-9700. Securities products and advisory services are offered through PAS, a registered broker-dealer and investment advisor, 240-683-9700.

Financial Representative, The Guardian Life Insurance Company of America (Guardian), New York, NY. PAS is an indirect, wholly owned subsidiary of Guardian.
Financial Balance Group, LLC is not an affiliate or subsidiary of PAS or Guardian.
PAS is a member FINRA, SIPC.

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