If you meet with an accident that renders you totally incapacitated and unable to engage yourself in
a gainful occupation, you are paid a lump sum, and the policy still continues with Base Sum Assured.
The «own occupation» rider modifies the definition of total disability under a basic plan, so you'll be considered totally disabled even if the insured is engaged in
another gainful occupation.
Totally disabled means the insured is unable to perform the substantial and material duties of a regular occupation, and the insured is under the care of a physician and is not working in any other
gainful occupation.
Gainful occupation and play are mutually supportive components in a unified life.
Not exact matches
Federal law requires that programs at for - profit educational institutions (e.g. University of Phoenix) and those lasting less than one year at traditional higher education institutions must «prepare students for
gainful employment in a recognized
occupation.»
Any
occupation definition of disability means you can not perform the substantial and material duties of any
gainful employment.
The definition is important because it differentiates between your regular
occupation and any
gainful employment.
The Sum Assured that can be availed for Accidental Death Benefit and Total Permanent Disability benefit is a maximum of 120 times the gross monthly income or 10 times the gross annual income from
gainful employment or
occupation
A total disability definition under an Any Occupation or Any
Gainful Occupation policy refers to your inability to work in any
occupations that you are able, based on your education and skills.
Any
occupation, or any
gainful employment, is too broad a definition and requires that you not be able to work in any
occupation in order to qualify for your disability income benefit.
With the exception of California, under Waiver of Premium, total disability is defined as: (1) during the first two years of total disability, the insured is unable, due to sickness or injury, to perform any of the duties of his or her regular
occupation; (2) after the first two years of total disability, the insured is unable, due to sickness or injury, to perform any
gainful work for which he or she is reasonably fitted by education, training, or experience.
Gainful employment information can be found at ultimatemedical.edu/student-information/#ge and includes information on tuition, loan debt, completion, placement and
occupations.