True Own Occupation Disability Insurance for Physicians
Get quotes for specialty specific true own occupation disability insurance, a type of income protection that allows you to receive full benefits even if you work in a different occupation or medical specialty.
The Gold Standard
True Own Occupation disability insurance is the gold standard for income protection for physicians due to the freedom it offers to work in an alternative occupation or medical specialty without a reduction in disability benefits, creating a path to full income replacement.
A Cardiologist is diagnosed with Multliple Sclerosis, rendering him or her unable to perform surgery or work under stress.
With True Own Occupation Disability Insurance, full benefits are payable without offset even if there are earnings from a different occupation while the claim is being paid, such as:
Teaching at a University
Consulting, perhaps self employed
Primary Care or other medical specialty
Starting a business
What Does the "True" in True Own Occupation Disability Insurance Mean?
"True" Own Occupation coverage is not the same thing as own-occupation coverage.
Without the "true", a person on claim is not allowed to work without the possibility of a reduction of benefits or disqualifying themselves from benefits altogether.
True own occupation permits unlimited earnings in another occupation while disabled from one's own occupation, without reducing benefits, creating a path to 100% income replacement or more. It is the "more" part that makes true own occupation disability insurance especially unique.
"Specialty" true own occupation may be included. Specialty language is arguably a marketing gimmick because the specialty is entered on the application anyway, which is part of the policy itself. Also, at the time of claim insurers look at how the individual has been performing their occupation, which subsumes the specialty question in the absence of broadening language. Nevertheless, specialty language is reassuring.
Carriers use different words to describe the true own occupation concept. Besides "true," it may also be referred to as "regular" own occupation (Principal) or "pure" own occupation (Ohio National), or just plain own occupation without a moniker (MassMutual) which is how the industry originally labelled it decades ago.
True own occupation always requires a rider, for additional cost. The base policy alone, stating "own occupation," is not sufficient because the base policy will define disability with a not-working requirement. Only through the attachment of the correct rider is it possible to waive the not-working requirement and be "true" own occupation.
Healthcare occupations eligible for true own occupation disability insurance
Assistant (medical or technician)
Certified Medical Aide
Certified Nurse's Aide
Critical / Intensive Care Physician
Ear Nose & Throat (ENT) Physician
Emergency Room Physician
Family Practice / General Practice Physician
Infectious Disease Physician
Internal Medicine Physician
Nuclear Medicine Physician
Nurse Anesthetist (CRNA)
Occupational Medicine Physician
Oral & Maxillofacial Surgeon
Pain Management Physician
Paramedical Examiner (RN, office duties only)
Physical Medicine & Rehabilitation / Physiatrist
Registered Nurse (RN) - office, clinic only
Sports Medicine Physician
Urgent Care Physician
Venous Disease Specialist
Don't see your occupation? Please ask.