STM

somarco

GA Medicare Expert
5000 Post Club
37,000
Atlanta
I have a client who is a pro athlete. Lives & plays overseas 9 months out of the year. All the STM plans I have reviewed have a 6 - 12 month US residency requirement. International plans cover US citizens, but only outside of the US.

Suggestions?
 
I have a client who is a pro athlete. Lives & plays overseas 9 months out of the year. All the STM plans I have reviewed have a 6 - 12 month US residency requirement. International plans cover US citizens, but only outside of the US.

Suggestions?

are you telling me the team or league he plays for do not have this covered....
 
are you telling me the team or league he plays for do not have this covered

Yes.

I can't think of any plans - STM included - that covers pro athletes.

I haven't seen an STM that asks occupation. Most will have the standard exlcusions. No coverage while participating in high risk sports for pay.

Time seems to be a possibility.

They allow foreign nationals living in the US for 12 months prior to the application. Says nothing about US citizens that have been living abroad.

I am waiting on a callback from the Time RSD.

Petersen may also have an option. Will check them later in the day when they open up.
 
Here's one of the exclusions of Assurant STM:

Treatment or services required due to injury sustained while participating in any interscholastic or inter-collegiate sport, contest or competition or while practicing exercising, undergoing conditioning or physical preparation for any such sport, contest or competition


On tope of that you need to read the underwriting guidelines. You cannot submit a STM application if it would be a flat decline for the major med. And a decline for major med for Assurant is a pro athlete.
 
I again don't know of anything that will cover a pro athlete. And if you find a plan you think covers them I'd actually call and ask before applying. The liability is insane. Most pro teams have coverage already in place for their players. Just because a plan doesn't ask occupation questions doesn't mean anything. Aetna doesn't saying anything about certain occupations being declined but go call underwriting and say you want to insure a pro lacross player and see what they say.
 
That is why I recommend going over to Petersen for these types of cases. They are affiliated with Lloyds and will underwrite things no one else will touch. I know they used to have (and probably still do) own-occ DI for professional athletes. I am sure you can find a major medical plan of some sort with them that will cover a situation like the above.

Petersen is a great ally if an agent wants to niche into very specialized markets like professional athletes, Nascar drivers and so on. Not my cup of tea but hey, they will write some pretty impossible risks.

Dave
 
Petersen probably is your best bet. However, I "googled" athletes insurance and came up with a web site for tonynovak.com. He has an article on the subject and is the GA for MedSave.com that provides STM for athletes. Also, found a website westpointinsurance.com that appears to specialize in coverage for athletes. Hope this helps.:smile:
 
Time RSD emailed saying they would cover this guy. I can also place him with KP. PIU was something I had considered and would have gone there if I didn't have other options.
 
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