1. David RacichPRO
    Fountain Hills, Arizona
    Assuming you mean own occupation or “own occ” disability insurance, the policy addresses specific and recognized occupational specialties in medical or legal fields such as a physician who also is a surgeon. While a disability may occur eliminating the doctor’s ability to perform surgery, he may be fit to continue in a general practice, but receive disability benefits.
    Answered on June 28, 2013
  2. J Paul Wilson CFP, CHFCPRO
    Certified Financial Planner, JPW Insurance Retirement Investments, Halifax, Nova Scotia, Canada
    Occupation Disability Insurance is usually defined as "own" occupation or "any"occupation. I can only provide you with a general understanding since the wording is specific to each policy.

    A policy could define disability as not being able to perform the duties of "any" occupation based on your education, training or experience. An "own" occupation definition means you unable to perform the main duties of your occupation. This means that you will be paid disability benefits even if you are working and being paid to do something else. For example a surgeon cannot perform surgery, but can work as a doctor.

    Some policies provide own occupation protection for 2 years or 5 years while others provide coverage to age 65

    If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.

    If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
    Answered on May 2, 2014
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