Maximum disability income policy (MDP)

{
  "id": "MLC-T-INS-003691",
  "term": "Maximum disability income policy (MDP)",
  "field": "Insurance and risk management",
  "definition": "A type of disability insurance designed to provide the highest possible monthly benefit to a high-income individual, subject to underwriting limits. A maximum disability income policy (MDP) combines a base individual disability policy with supplemental riders or additional policies to reach the insurer's maximum issue and participation limits for that person's occupation and income. These policies are structured to replace a substantial portion of after-tax earnings, often up to 60 or 70 percent, for professionals like physicians or executives.",
  "abbreviation": "MDP",
  "url": "https://mlchart.com/terminology/insurance/maximum-disability-income-policy-mdp/"
}