Professionals should only consider a disability insurance contract with
own-occupation language and seek out the contract that offers the longest
own-occ time period available industry wide.
These are only examples of professional classifications
Occupational Definition Classes
define the circumstances in which benefits will be paid considering your
occupation; while...
Occupational Rating Classes
define the chances that a disability will occur in a particular occupation.
The
highest occupational rating class equates to the lowest premium rates.
As you can observe below, there are a significant number of carriers
available to search out the best occupational definitions, and occupational
rating classes for your particular profession.
Own-Occ Total Disability
means that, due to sickness or injury, you are unable to perform the
material and substantial duties of your occupation. Your occupation by
contract is the occupation/occupations, you are engaged in at the time of
disability. The contract language states your are considered totally
disabled even if you are at work in some other capacity.
We
will always strive to seek the carrier with the best possible contractual
provisions for your specialty. Please feel free to call us at
888.587.8511 to discuss
your questions and/or your concerns.
Related Topics
Disability Insurance For The Professional
●
Professionals
●
Individuals
●
Executives
●
Physicians
●
Attorneys
Business Disability Products
●
Professional Business Disability Overhead Expense
●
Disability Buy Out
●
Disability Buy Out Insurance
●
Keyman Disability Insurance
●
Other Professionals
●
Employer Groups
Not all insurance products from all insurance companies
are available in all states.
Note:
We do not provide legal or tax advice. The general
information presented on various tax aspects contained in
this site are not intended to be relied upon as tax advice.
Individuals should seek the advice of a qualified tax
professional regarding the taxation of these benefits as
they apply to your particular situation.
These
benefits are offered in all states except: AK, HI, & WY.
License #'s: CA: OC38446 MT: 29724 F00-0283-LC
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