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DATE: | January 24, 2012 |
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TO: | Residents and Fellows completing UI programs of Graduate Medical Education |
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FROM: | Cathy Canfield-Jepson Director of Graduate Medical Education |
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RE: | Continuation of disability insurance -- Conversion Offer |
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The University of Illinois includes a long term disability insurance policy as part of your resident benefits. The policy provides benefits in case you are unable to carry out professional duties as defined by the terms of the policy. | |
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While the coverage ends when you complete your residency program, it may be continued on an individual basis. No medical exam is required. The enrollment period is open through June 30,2012. Your opportunity to convert to this policy is exclusively available from Lumsden & Associates, the insurance brokerage firm selected by the University of Illinois for institutional disability policies at the College of Medicine. | |
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This year, Lumsden & Associates was successful in negotiating significantly improved pricing and policy provisions with Principal Life Insurance Company. UI Residents may choose to include the True/Pure/Own Occupation "Medical Specialty Specific" Definition of Disability with premium/rates through UI which are now 30% to 35% lower than the next best comparable carrier. This premium savings over the course of a typical policy owned for a 30+ year term will provide you with a substantial (several thousand dollars) premium savings. | |
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