MD Preferred Blog

*The views expressed by the authors below do not represent the views or opinions of MD Preferred Services.

Importance of a Student Loan Rider

Friday, February 16, 2018

Student Loan Rider

You need to protect yourself from the financially devastating epidemic in our nation- outrageous student loan debts!! You need to obtain student loan protection in the event of a disability. This protection will be a safeguard so you will be able to meet your student loan payments!

Disability Insurance offers you the financial protection from many things that could hinder your ability to earn a living. Most people think that disability does not happen to younger people and that most disabilities are due to work-related accidents. Actually, the odds of having a long-term disability (one that lasts 90 days or longer) before age 65 are as significant.

% more likely to become disabled than die

Age   Male   Female
25     32%    147%
30     31%    141%
35     32%    135%
40     32%    125%


You are most vulnerable early on in your career. As you begin your professional career, your income is just beginning to grow, and your unpaid student loan debt is at its highest level. You are very vulnerable if you become disabled at this point.

You want to obtain a disability policy that offers an optional Student Loan Protection Rider that will allow you to:

  • Obtain additional coverage- up to $2,000/month to cover student loans
  • Pick a coverage level that is specific to your debt- reimburse $250-$2,000 per month toward student loan payments
  • Choose a rider duration for how long you need the coverage- 10 or 15 years
Finally, you want to make sure you work with a seasoned disability insurance agent who knows all the nuances of the disability policies and carriers. Seek out an agent who specializes in disability insurance will help guide you to the best policy and carrier to meet your specific goals and budget

Gary Fegan is a seasoned DI specialist with over eighteen years of experience and hundreds of satisfied clients. He takes great pride in customizing the best plan to meet each client's specific needs, concerns and budgetary restrictions.

Gary lives just outside of Washington, D.C. in Rockville, Maryland with his wife, Micki, and three boys, Jimmy, Chris, and Sean.


2018-53118 Exp 01/20

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