Should I Choose the Benefit Increase Rider (BIR) or Future Increase Option (FIO)?

Are you a physician wondering whether you should choose the Benefit Increase Rider (BIR) or Future Increase Option (FIO) for your policy? In this episode of the Cover Your Assets podcast, Billy Gwaltney dives into the pros and cons of each option. He breaks down the guidelines and requirements for both riders and explains how they can affect your coverage and cost. Whether you prioritize flexibility or cost-efficiency, this episode will help you decide on your insurance needs. 

Episode Highlights: 

Billy explains how BIR and FIO riders allow you to increase coverage in the future without redoing medical screenings. (1:06) 

The differences between the BIR and the FIO, and how they can both lead to maximum coverage based on your income. (3:52) 

The BIR requirements and guidelines, including updating your income and accepting additional coverage you qualify for. (5:22) 

The flexibility of the FIO, which allows you to increase your coverage anytime and by any amount, without adhering to a specific schedule. (6:58) 

The Cover Your Assets Podcast is on a mission to help physicians like you get their disability insurance right. You’ve spent years of your life and hundreds of thousands of dollars to become a physician – this is the career that will give you and your family everything you’ve dreamed of! Don’t let accidents, illness, or injury destroy your hard work and the life you deserve. You know you need to be insured, but how do you sort through the mountains of information when you barely have enough time to eat? On the Cover Your Assets Podcast, host Billy Gwaltney shows you exactly what you need to do to protect your income and way of life. 

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If you have questions, feedback, or just want to connect, email Billy at ⁠⁠