Digging Into... Disability Insurance

2 Minute Video

We are excited to be starting a new weekly video series called "Digging into... with Matt & Andrew" and this month's topic is Disability Insurance!

So what does "own-occupation" mean, and why is it so essential to physicians?

Find out the answer in this week's episode!

If you have any questions you would like us to answer, complete a quote request and set up a time to speak with us to find out more.

"When doctors reach out to us to ask about disability insurance, one of the commonly asked questions is “What is own occupation coverage?” and quite frankly it’s the number one, the most important, thing that you should know about your disability insurance.

If you are a doctor and you are looking to protect your specific specialty the duties you do on a daily or weekly basis, you have to have own occupation coverage.

Essentially in the contract, it says, if you get disabled and you can’t perform your specific duties, but you can do some other job, they will continue paying you the full benefit.

If you don't have that kind of coverage if you can do any kind of job, working at a library, teaching, or anything else, you are going to find yourself having your benefit decreased, so they may even stop paying you all together.

There are some companies that claim to have own occupation coverage that doesn’t, and the big sticking point is if you can do something else!

One thing that you might have heard of before is the big six companies, the six companies that have own occupation. Those companies are Ameritas, Standard, Guardian, Principal, Mass Mutual, and Ohio National. (Ohio National, is not offered in all 50 states, but they do have that own occupation)

If you are interested in getting more information or have any questions about anything you have heard, reach out to us, we are always here to help!

If you have any other questions that you would like us to do a video on, comment below and we will answer that as soon as possible!"