Sentences with phrase «occ policy»

Own Occupation When you are looking at disability insurance, you should try to get an own occ policy if possible, as this ensures that you are safe in your field.

Not exact matches

A hybrid of the first two options, these policies typically allow for an «own occ» provision for a certain period of time (e.g. 2 years) and then switch to an «any occ» definition of disability.

A «true own occ» policy will pay your full benefit even if you're gainfully employed in another profession.

In an «own occ» policy, you will be considered totally disabled if (and I'm paraphrasing because each company is nuanced in their wording) due to injury or sickness, you can not perform the material and substantial duties of your occupation.

Some policies allow you to add a rider that will extend the own occ provision for the life of the policy... but as you know if you read my articles, those riders cost money.

When Stacey came to me as a client, she was frustrated because she needed to use her disability insurance but had just learned the true definition of an «any occ» policy.

This policy contained an «any occ» disabling definition in her policy, which meant that if she were disabled but could do any gainful job in the workforce (even flip burgers at McDonald's) her disability insurance would not pay out.

The costs keep adding up because some companies won't issue an «own occ» policy without the «non-cancelable» rider.

To start, there are two primary forms of how a disability insurance policy's definition is defined: «own occ» or «any occ».

The third is the holy grail (although not always necessary) and what most DI policies term as «true own occ».