What is the difference between a disability insurance policy provision insuring ones own occupation versus any occupation?
An own occupation provision means that your policy will provide benefits in the event that you are no longer able to perform the material and substantial duties of your own occupation. Most employee-benefit related policies will only provide own occupation coverage for a limited period of time, meaning that for after that period expires, and for the remainder of time that the policy remains in force (which is usually until age 65 or retirement age) you must be disabled from performing the material and substantial duties of any occupation for which you are reasonably qualified by your training, education and experience, in order to continue to be entitled to benefits.
Related Questions
- Since my disability insurance policy covers my "own occupation," am I prevented from working in another occupation or risk losing my disability benefits if I do?
- What if I am receiving social security disability benefits; can I still make a claim on a private disability insurance policy?
- What is the difference between a disability insurance policy provision insuring ones own occupation versus any occupation?
