As you shop the market for disability or life insurance, you may notice policies that offer riders and endorsements.

Riders and endorsements are two ways to reference the extra coverages that can be added to an insurance policy to enhance the protection it offers. Because riders and endorsements provide additional coverage on top of the basic policy, there are typically additional costs associated with them.

Offering riders or endorsements are one way insurance companies tailor standard policies to better meet the needs of their insureds. For example, to better meet the needs of AAO members, two of the AAO-Endorsed Insurance Program’s policies have options to add riders — Group Long-Term Disability Income insurance and Group Term Life insurance.

Read on to see how these riders can add important coverage to better meet your needs.

AAO-Endorsed Insurance Program’s Group Long-Term Disability Income Insurance Riders

With Group Long-Term Disability Income insurance from the AAO-Endorsed Insurance Program, you have the option to add three riders to your policy:

1. Future purchase option

For an additional premium, you can increase your coverage in the future, without medical underwriting to help ensure your coverage keeps pace as your earnings grow.

We regularly see orthodontists’ salaries increase exponentially as they progress in their careers. As such, the benefit amounts orthodontists select for their disability insurance at the beginning of their career can quickly become insufficient.

With the future purchase rider available from the AAO-Endorsed Insurance Program, your policy can keep pace with your earnings throughout your career.

2. Cost of living adjustment benefit

As inflation and cost of living increases over time, so too can your disability benefit amounts. Should you be unable to work for an extended period due to a covered disability, our coverage allows your monthly benefit amount to be adjusted annually to account for inflation.

With the cost of living adjustment rider, available for an additional premium, after the first year of your paid monthly benefit amount you would receive an adjustment in the amount that reflects changes in the cost of living based on the Consumer Price Index for all Urban Consumers (CPI-U).

3. Student loan option benefit

The student loan debt orthodontists carry can be a significant amount, with high monthly payments in addition to living expenses like rent/mortgage, car payments, business loans and more.

To help pay your student loan bills should you become permanently disabled while under the age of 45, Group Disability Income insurance from the AAO-Endorsed Insurance Program can provide up to $200,000 towards your eligible student loans, for an additional premium. You must become insured under the Policy before age 40 to request this optional benefit.

AAO-Endorsed Insurance Program’s Group Term Life Insurance Riders

With Group Term Life insurance from the AAO-Endorsed Insurance Program, you have the option to add one rider to your policy:

1. Chronic illness rider

Being diagnosed with a chronic illness can happen at any time. Illnesses such as cancer, heart attack, stroke, organ failure and more can impact orthodontists at any stage of life.

The costs associated with treatment and care for critical illness can be high, especially when you may be unable to work during your treatment.

By adding the chronic illness rider to your Group Term Life insurance policy for an additional premium, you are able to access your life insurance benefits while still alive, if you are considered critically ill. This allows you to leverage your life insurance coverage to help mitigate the high costs associated with chronic illnesses needs.

Additional Options for Your Life and Disability Insurance from the AAO-Endorsed Insurance Program

The AAO-Endorsed Insurance Program is designed to meet the needs of AAO members, and that includes offering key riders to ensure our policies work for you.

If you’re interested in learning more about these riders for Group Long-Term Disability Income insurance and Group Term Life insurance, contact our dedicated team of licensed insurance representatives today.

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For more information on the AAO-Endorsed Insurance Program group insurance, including features, costs, eligibility, renewability, limitations, and exclusions, visit AAO-Insurance.com.

This marketing material is not intended for residents of NM with respect to Group Long-Term Disability Insurance.