Guaranteed Standard Issue (GS) Disability Insurance is an underwriting program where an insurance company guarantees to issue a disability insurance policy at a standard rate, and without exclusions, if very few conditions are met.
One of these conditions is that you have to be employed at an employer where the insurance company is offering this type of benefit. The most common place to find a GSI program is at a medical school or hospital.
Physicians in training are often approached to buy disability insurance and protect their future earnings. Many schools and residency programs will offer a Guaranteed Standard Issue Disability program for their physicians in training.
The other condition that is usually required to be met is that an applicant can't have applied with and been declined by or offered a substandard or rated policy with another carrier before applying to the GSI program. While insurance carriers are willing to insure people in these programs who have adverse medical conditions, they don't want to insure people who have already been turned down for coverage. This means that if you have the option of getting coverage under a GSI program, do it as soon as possible and before you've applied to another carrier.
If you're a physician in training, you probably know that disability insurance is something you'll need to buy at some point. If you have the option of buying it in residency through a Guaranteed Standard Issue program, you should take advantage of that. If such a program is not available at your institution, get in touch with us and let's see if we can help.