Own-Occupation Disability Insurance Policies


In the 1980's and early 1990's, "own-occupation” insurance policies were presented to professionals in the medical industry as containing the absolute strongest total disability coverage. At that time, all insurance carriers who offered own-occupation disability policies maintained similar coverage, and defined total disability as being unable to perform the "substantial and material duties” of one’s regular occupation while under the care of a physician. The definition made it clear that if the professional could no longer do his or her job, he or she would be entitled to full benefits. "Regular occupation” referred to the one he or she was engaged in at the time of the disability, which meant the insurance holder could pursue a different profession and their benefits would not change.

Unfortunately, over the past twenty or so years, insurance companies across the board began reducing or eliminating benefits under these policies in order to cut costs and increase profits. This article describes what a policyholder should look for to ensure they still have a pure "own-occupation" insurance policy, and what to do if their insurance company is giving them the run around.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Eric Ratinoff, Kershaw, Cutter & Ratinoff | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.