Get true own occupation disability insurance and live in comfort

Posted by Doctor Insurance Group, LLC on January 22nd, 2019

Physicians who have got long term disability insurance should verify that the policy contract has ‘true own-occupation’ description of a disability. True own- occupation states that you would be considered disabled if you are not able to perform the substantial and material duties of your specialty. You will get all the benefits although you are employed in another occupation and getting an income.

The most important aspect that you should check when you are investing in an insurance policy for own occupation disability is the meaning of disability. True own-occupation meaning makes everything clear and flexible for receiving benefits when disabled.

True own occupation disability insurance for physicians

When a physician is going to get an insurance cover for own –occupation disability, he should ask what disability actually means. As it will ascertain how any claim for benefits will be evaluated.  If you have invested in an insurance policy for own occupation disability, then if you are disabled and cannot carry on your specialty you will be able to get all your benefits while you work in another occupation during that time and even earning more than your own specialty.

Can you ask if a doctor can be considered disabled if he cannot perform operations but still performs other duties associated with the profession? Then there is no hard and fast law to define the material and substantial duties of a surgeon.

True own occupation disability for surgeons

An own occupation disability insurance is the most common type of insurance that surgeons should invest in to protect themselves in case of an injury and to provide for their families. It will also help the surgeon to have a flow of income in case of an injury. But when investing in the policy make sure that it is clearly mentioned about true own occupation definition of disability.

True own-occupation disability insurance policy states that total disability is when you are injured or sick and cannot perform substantial and material duties the occupation. You will be considered disabled even if you work in other occupation. You will get all your benefits.

The advantages of own occupation disability insurance

An own occupation disability insurance is very good for a physician if he is injured and cannot work in his own specialty. The insurance company will pay all the benefits if you are unable to perform the material and substantial duties of your own profession. You may still be allowed to work in your occupation. If you chose to work in another specialty you will still get your benefits regardless of the income you get from the other specialty that you are working.

The insurance will not charge you penalty if you are able to work in another specialty and get an income. If you are unable to perform surgery due to your illness, you can teach and get an income while you get disability benefits.

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