Individual Auto/Home/Umbrella/Identity Theft

Allied Insurance

We have partnered with Allied Insurance, a member of Nationwide Insurance, to offer you all lines of personal insurance including automobile, homeowners, umbrella, boat owners and recreational vehicles. Allied Insurance offers 24-hour On Your Side™ service where you need it. Change your policy or ask a question when it's convenient for you. No appointment is necessary.

Service to the medical community is our agency's focus, so we are familiar with your coverage needs. Our diagnostic tests include a review of your exposures, a comparison to your current coverage and an explanation of insurance details.

The Allied Extra
Four bonus insurance coverages…and a big premium discount when you insure both your personal auto and your home with Allied.

1. Emergency Lockout Coverage… to pay a locksmith when you're locked out of your auto or home.
2. A Single Deductible… for a claim when both your auto and home are affected by the same event.
3. Air Bag Replacement… to pay for replacing an air bag that deploys accidentally.
4. Accidental Death Benefit… in the amount of $10,000 in the event of your death resulting from an accident involving your auto.

Identity Theft Coverage
Identity Fraud Expense Coverage is available through Allied and would reimburse you for most out-of-pocket expenses incurred as the direct result of any one-identity fraud first discovered or learned of during the policy period. This coverage also offers an additional service feature through their partnership with Identity Theft Assist^TM. Available 24/7, one phone call will connect you to an experienced representative who will:

• Assist with identifying fraudulent accounts
• Place a "fraud alert" on policyholder credit reports
• Report the identity theft to the local policy, the Federal Trade Commission, and other credit reporting agencies

Extra coverages and extra value… Ask your Allied agent for details!

To learn more, contact us through our on-line contact form, on-line quote questionnaire*, or through e-mail at dianel@wismed.org or phone 800.975.3418.

*You must save the questionnaire form prior to filling out the fields in order to save a completed document to be sent back to us.

Back to Top

Chubb Personal Insurance

We also offer Chubb Insurance with products for individuals with fine homes and possessions who require more coverage choices and higher limits than standard insurance policies.

• Chubb's Masterpiece® suite of products offers insurance for primary and vacation homes and contents, city homes, valuable possessions, automobiles, watercraft and personal liability.
• Much of the world's individually owned precious jewelry is insured through Chubb.
• Chubb insures over 60 percent of the Forbes 400 wealthiest people in the U.S.

Added Protection When It Matters Most
Home invasion. Child abduction. Car jacking. Stalking threats. These crimes punctuate nightly newscasts & highlight the pages of newspapers, magazines and even Web sites.

It's comforting to know that Masterpiece® Family Protection ^SM from Chubb helps cover your costs if you or someone close to you is a victim of these crimes almost anywhere in the world. As a leading insurer of fine homes and possessions, Chubb is also the only insurer to offer a family protection coverage option. Chubb not only helps protect the things you treasure most but also cover the people are most precious to you.

Chubb at a glance
Since 1882, Chubb has provided property and casualty insurance to businesses and individuals around the world.

• Chubb has more than 120 offices in 28 countries worldwide
• With more than 12,000 employees around the globe, Chubb serves commercial and personal customer through 8,000 independent agents and brokers worldwide.
• Chubb is consistently rated among the highest U.S. insurance carriers for quality of service in the Goldman Sachs U.S. Research Survey of insurance agents and brokers.
• Chubb also earns high ratings from Standard & Poor's (AA) and Moody's (Aa2) for financial strength.

To learn more, contact us through our on-line contact form, on-line quote questionnaire*, or through e-mail at dianel@wismed.org or phone 800.975.3418.

*You must save the questionnaire form prior to filling out the fields in order to save a completed document to be sent back to us.

Back to Top

Individual Dental

The Medical Society has an exclusive endorsement with Delta Dental for members that allows us to write individual dental plans directly through Delta Dental.

Delta Dental Plans Association is the nation's largest, most experienced dental benefits system and is unparalleled in the industry. Delta Dental offers a nationwide system of dental health benefits for a wide range of employers both big and small. Delta Dental Plans offer programs and reporting systems that provide clients with quality, cost-effective dental benefit programs and services.

To learn more, contact us through our on-line contact form.

Back to Top

Individual Disability

Disability Income Insurance FAQ

1. Why should I consider buying disability insurance? In many cases, group disability insurance may not be enough. The group benefits ends when your employment ends.
2. How much disability insurance should I have? Many financial advisors suggest that you secure as much as possible!
3. Can I build in options to purchase more coverage as my income increases? Yes, you can build in options to buy more benefits without going through the underwriting process again, even if you're not in good health.
4. What if I intend to work part time or plan to take time out to raise children? There are special contracts allow you to move your coverage up or down as conditions change in your life.
5. What is "own occupation" definition and why is it important? In some contracts own occupation states that if you cannot perform the material and substantial duties of your occupation/specialty, you may qualify for benefits. For some specialists, the benefits will continue even if you are working in another occupation. This own occupation definition is very important to most physicians.
6. What are the changes of becoming disabled? Between the ages of 35 and 65, you have a 30% chance of becoming disabled-and unable to work-for 90 days or longer.¹
7. What is the definition of being disabled? Although specific definitions are specific to a policy, in general there are three categories of disability:
   
   Partial disability: Built into some protection policies, available as a rider with others, this provision pays a portion of the total disability benefit if you're unable to perform one or more of your occupational duties because of disability.
   
   Total disability: A definition of disability based on your inability to perform the important duties of your regular occupation because of injury or sickness.
   
   Recurrent disability: Term used to describe situations where a disability occurs, once you recover for a short period of time, and then experience a recurrence of the same or a related disability. Recurrent disabilities do not have to wait until the elimination period is over before benefits can be received.

¹Commissioner's Disability Table A, Society of Actuaries, 1985. Chances of disability occurring before age 65 and lasting longer than 90 days.

Individual Business Disability

If you are self-employed or the owner of a small business there is a chance for disaster if an unexpected illness or accident strips your livelihood. For this reason, the Insurance World has designed special policies to deal with these setbacks. The most popular kinds of business insurance protection policies include the following options.

• Disability buy-out: if the business is co-owned, both owners active, this option funds a buy-sell agreement in the event of disability by a co-owner.
• Business overhead expense (BUE): pays the fixed business bills (rent, taxes, utilities, malpractice insurance, staff salaries, etc.) in the event of your disability.
• Key person insurance coverage: reimbursement for the financial loss of a key employee due to sickness or accident.
• Recovery benefits: supplements your income after returning to work full time for the percentage of income lost during the period you are reestablishing a customer base.

To learn more, contact us through our on-line contact form.

Back to Top

Individual Health

"Flexibility, choice, value and support with exclusive benefits for the medical community."

Coverage Plans Designed for You

• Group Health Savings Accounts (HSA)
  The HSAs were created with the passage of the Medicare Prescription Drug, Improvement and Modernization Act of 2003. An HSA is a tax-exempt trust or custodial account established exclusively for the purpose of paying qualified medical expenses of the account beneficiary who, for the months for which contributions are made to an HSA, is covered under a high-deductible health plan.
  
  HSAs offer an impressive list of attractive features:
  • Funding flexibility — employer contributions and salary reduction contributions are all permissible.
  • No use-it-or-lose-it — employees may accumulate funds and self-direct investment in a tax-exempt trust or custodial account.
  • Ability to use funds for non-medical purposes, but with penalties.
  • Account portability for employees changing jobs.
  • Employees substantiate expenses.
  • Certain eligible family members may make contributions to an HSA on behalf of the eligible individual.
  U.S. Treasury HSA Web site: http://www.ustreas.gov/offices/public-affairs/hsa/
  
  
• Individual Instant Protection Plan (IPP)
  Between Jobs?
  
  In a waiting period for a group plan?
  
  Eliminate your health insurance worries now!
  
  The WPS Instant Protection Plan (IPP) is a temporary coverage plan that becomes effective the day after the postmark on the application envelope, or if you request a date and we approve, a later effective date. With this plan you will enjoy short-term comprehensive medical and hospital benefits under a customized plan that meets your individual needs.
  
  With IPP, you choose a coverage period from 30 to 185 days, or any number in between. So, you only pay for the duration of coverage you need. The IPP is not an HMO or PPO. You have the freedom to see the medical professionals you choose.

• Comprehensive Major Medical
  The Care Share Plan is a group comprehensive major medical plan offering traditional health insurance that's simple and straightforward.
  
  • No networks
  • No referrals
  • Comprehensive benefits
  • Freedom to choose health care providers
  • One co-insurance level for all health care providers—primary care physicians or specialists!

• Preferred Provider Plan (PPO) WPS Preferred Advantage Plus combines comprehensive benefits and freedom of choice with proven cost-saving strategies and flexible plan options designed to assure that you and your employees have access to affordable, quality health care.
  
  • No referrals
  • Freedom to choose providers
  • Comprehensive health benefits
  • Expansive preferred provider networks
  • Flexible plan options to fit any budget
  • Opportunity to limit annual out-of-pocket expenses
  
  Participants can choose to see any health care provider, yet will still receive the highest level of benefits when they see preferred providers. That translates into lower out-of-pocket costs for participants and reduced benefit costs for everyone!

Satisfied Customers

There's more to a good PPO than reduced rates and freedom of choice. At WPS, we combine prestigious provider partnerships with our nationally accredited Value Care Review (VCR) program to ensure access to personalized, quality health care and value for each health care dollar. Thanks to proven coordinated care strategies — and a healthy dose of compassion and flexibility — our in-house team of experienced doctors and nurses have worked with thousands of patients and providers to develop individualized solutions that really work.

In addition to WPS, we work with a number of other group health insurance companies. To request more information please use our on-line contact form.

Back to Top

Individual Life Insurance

Types of Insurance

• Whole Life Insurance:
  Life policies that pay whenever death occurs are called whole life insurance. These policies remain in effect as long as the premiums are paid and the policy has not been surrendered. Traditional whole life products are often referred to as permanent life insurance or cash value life insurance. The premium for whole life policies remains level throughout the policy. There is no increase in premium as the insured becomes older. Whole life can be either (1) ordinary/straight life or (2) limited pay depending on how the policy owner pays the premium.
• Universal Life Insurance:
  This type of policy gives the insured a choice of two life insurance options.
  • One option is the purchase of a level amount of coverage. The death benefit is made up of pure insurance and a cash value. Typically this option increases the cash value from premium payments and interest earnings. This results in a decreasing amount of pure insurance. The cash value is often called the investment account. If the cash value increases beyond the initial specified amount before maturity, the insurance portion increases. This provides a corridor of protection equal to a percentage of the cash value. Federal tax guidelines specify this percentage, which varies by age. This keeps the earnings from being taxed as income.
  • The other option has a death benefit equal to a specified amount, plus the cash value. In this option, the amount of pure insurance remains constant. As the cash value or investment account increases, the total death benefit increases.
  
  
• Term Life Insurance:
  This type of policy closely resembles fire insurance. In fire insurance, if fire damages the insured's property during the term of the policy, the company pays the loss. The same is true with term life insurance. The company pays the claim if the insured dies during the term of the policy. Term insurance can also be added to a whole life policy as a rider. There are three basic types of term life insurance: level term, decreasing term and increasing term.
  
  • Level Term-provides a set amount of life insurance throughout the policy term.
  • Decreasing Term-provides a face amount of insurance that decreases as time passes.
  • Increasing Term-provides a face amount of insurance that increases over time.
  
  Term insurance is temporary, suiting those needs that expire at some definite time in the future. Term life only gives you protection; there is no savings or investment element (cash value).

To learn more, contact us through our on-line contact form.

Back to Top

Individual Long Term Care

What is Long-Term Care?

Long-term care refers to a broad range of supportive medical, personal and social services needed by people who are unable to meet their basic living needs for an extended period of time. This may be caused by an accident, illness or frailty. Such conditions include the inability to move about, dress, bathe, eat, use a toilet, medicate and avoid incontinence. Also, care may be needed to help the disabled with household cleaning, preparing meals, shopping, paying bills, visiting the doctor, answering the phone and taking medications. Additional long-term care disabilities are due to cognitive impairment from stroke, depression, dementia, Alzheimer's, Parkinson's and so on. This support can be offered at home or in an institution.

The cost of a nursing home ranges from $30,000 to $80,000 per year. Home and community care can range from $12,000 to $50,000 per year. Statistics show that after paying for 1 year of long term care, 72% of elderly Americans are impoverished (Day, T. 2005. Long Term Link).

To learn about how to protect your assets through acquiring Long Term Care Insurance please contact us using our on-line contact form or feel free to complete our LTC worksheet and fax it to 608.442.3810 or mail to Wisconsin Medical Society Insurance and Financial Services, 330 E. Lakeside St., Madison, WI 53715.