R. K. Tongue Co., Inc. has continually worked with the Optometric community since the 1970s. We are uniquely knowledgeable about the exposures inherent to the practice of Optometry and we have amassed comprehensive offerings from a large number of well-respected insurers to help you transfer your risk as effectively as possible.
Pays defense costs and indemnity up to a specified limit for amounts that you become legally obligated to pay due to a professional act or omission.
An allegation of malpractice, regardless of merit, can cost thousands of dollars to defend, regardless of outcome. Awards to plaintiffs can be upwards of a million dollars. Professional liability insurance is one of the most essential forms of insurance protection that a professional can have.
We offer the Optometric Protector Plan on an exclusive basis in Maryland and Washington, D.C. This program is a comprehensive, modular package for full commercial property and liability protection. The program itself is endorsed by the Maryland Optometric Association and offers coverage on an occurrence form. Policies are available with limits ranging from $1,000,000/$3,000,000 to $2,000,000/$4,000,000 with excess/umbrella coverage available up to $5,000,000
We also have the necessary resources and ability to work with insurance companies that offer malpractice coverage to applicants who, due to unusual risk characteristics, have difficulty obtaining a policy from most standard malpractice insurers.
Extends underlying limits of liability, typically on an umbrella basis.
Pays a monthly benefit designed to partially or completely replace your income if you are unable to work. Considering that your largest asset is your ability to earn an income, a sickness or injury could eliminate or limit your ability to work and destroy your ability to meet your financial obligations and goals. Disability insurance payments are typically triggered by an insured individual’s inability to work due to sickness or
injury. The best policies strengthen the definition of inability to work down to one’s own occupation and even specialty.
Operating as an independent broker for disability insurance, we shop the market and bring only the best options to you. We specialize in true own-occupation, own-specialty policies and have the experience and ability to custom tailor a solution to meet your needs.
Triggered by the inability or reduction in ability to work due to sickness or injury, these products are specifically designed to help you pay for the covered expenses of your practice in the event that you become disabled.
Disability insurance designed specifically to protect your interest in a partnership or corporation with multiple, equity stakeholders.
Term Life – Protects your family and assets in the event of your death. Term life insurance is designed to remain level in premium and benefit for a fixed period of time, typically ranging from 10 to 30 years, with terms of duration available at intervals between those increments. This form of life insurance is ideal for the early financial stages of life when debt tends to be high, families tend to be young, and an untimely death is likely to be most devastating to a family’s financial well-being.
Whole Life – Capable of protecting your family and assets for the duration of your life using a combination of pure life insurance coupled with the accumulation of cash value and fixed interest on a tax-deferred basis. Permanent life insurance such as whole life is ideally suited for estate and final expense planning.
Universal Life – Another form of permanent life insurance capable of protecting your family and assets for the duration of your life. Universal life uses a combination of pure life insurance coupled with the accumulation of cash value and variable interest on a tax-deferred basis. Most modern universal life policies allow the holder to benefit from increased interest earnings during high interest rate environments while retaining the guarantee of an interest rate “floor” during low interest rate environments. Like whole life, universal life is ideally suited for estate and final expense planning.
Most practices have hundreds of thousands of dollars worth of equipment, physical property, records, and improvements to leased or owned space. Fire, water, or some other peril could easily damage or destroy an office resulting in massive repair and replacement costs. Further, damage or destruction of office property often results in a business interruption and subsequent loss of income. Business owners property and general liability policies are designed specifically to address the property and casualty risks that a firm or solo practice may encounter.
Insurance to ensure that employees injured on the job obtain a portion of the earnings that would otherwise be lost due to injury. In most cases, workers compensation is mandated by law. Workers comp also provides payment for most medical expenses incurred due to work-related injuries. Employer’s liability protects employers from the costs, up to a stated limit of liability, associated with lawsuits brought by injured workers.
As with most insurance products, R. K. Tongue Co., Inc. has access to some of the most highly regarded workers compensation/employer’s liability insurers.
Pays benefits as a result of an insured individual’s inability to perform activities of daily living, i.e. bathing, eating, dressing, toileting, continence, transferring. Long Term Care insurance also responds in the case of cognitive impairment.
The cost of assistance from a skilled nursing care provider can easily cost hundreds of dollars per day. Should one choose to receive care in a skilled nursing facility, those costs can soar even higher. Long term care insurance is designed to fund the type of non-acute care that so many individuals will need during their lifetime. It also allows individuals the freedom to obtain the long term care that they need, on their own terms, without rapidly depleting their assets or forcing dependence on others.
Insurance to pay for the increasingly high costs of healthcare.
We have access to and offer the full spectrum of medical insurance options from all of the major insurers. We offer plans on either individual or group platforms.
Many of the products available to individuals can be obtained on an employer-sponsored group basis. Group products are often available at a reduced cost with reduced underwriting. Group benefits can also aide in an employer’s quest to attract and retain the best talent.
Group offerings include Life, Disability, Medical, Dental, Vision, etc.
Certain products, such as life, short-term disability, accident, and cancer plans can be offered to your employees through payroll deduction at no cost to you. With offerings from Aflac and Texas Life, among others, your employees will thank you for the attractive rates and easy payment method on insurance products that they want and need. Since there are no participation requirements or employer expense involved, it’s easy to provide your employees with yet another benefit of working for your firm.