Disability Insurance

True Own Occupation

Get full benefits if unable to work in your specialty, and enjoy the freedom to work in a different occupation or specialty.

For groups and freedom-loving individuals.

 

The Gold Standard

 

True Own Occupation disability insurance is the "gold standard" in income protection due to the freedom it offers an individual to work in an alternative occupation without a reduction in disability benefits, potentially achieving full income replacement.   

Let's look at the skills your occupation requires and consider what else you could do.

Decision Making

Requires: judgment, cognitive acuity, memory, concentration, energy

Example

 

An Attorney experiences burnout or is medically restricted from stressful work due to cardiovascular issues. 

 

With True Own Occupation Disability Insurance, full benefits are payable without offset even if the individual earns income in a different occupation such as:

 

  • Writing as a self-employed author

  • Authoring publications for the firm

  • Teaching at a University

  • Start a BNB or grow grapes

  • Train associates

  • A less stressful legal specialty such as probate

Travel

Requires: air travel, driving and walking to attend client meetings, conventions, and presentations

Example

 

A Management Consultant develops Deep Vein Thrombosis (DVT) in the leg, a blood clot resulting from surgery.   Medically restricted from travel, the consultant could theoretically continue consulting remotely from home, but her True Own Occupation disability insurance policy does not contain duties modification language so she has a choice.   

 

With True Own Occupation Disability Insurance, full benefits are payable without offset even if she earns income in a different occupation such as:

 

  • Authoring articles to improve the firm's visibility and industry credibility

  • Start a business without traveling

  • Take an internal role in the firm such as training associates

  • Managing her husband's real estate and property management business

Articulation

Requires: pitching investors, media relations, eloquence, memory of content and important people

Example

 

A CEO has a Transient Ischemic Attack (TIA), also known as a "mini-stroke" resulting in reduced articulation performance, specifically word repetition, delayed word recall, inability to make decisions and forgetting important details.  

With True Own Occupation Disability Insurance, full benefits are payable without offset even if the CEO earns income in a different occupation such as:

  • Authoring articles to improve the firm's visibility and industry credibility

  • Running an Alpaca ranch

  • Real Estate investing

  • Property Management

  • Government work 

Personal Interaction

Requires: hearing, speaking

Example

A Financial Planner loses his hearing due to a viral infection.

With True Own Occupation Disability Insurance, full benefits are payable without offset even if the Financial Planner earns income in a different occupation such as:

  • Authoring articles or books

  • Preparation of Deliverables for the clients of other Financial Planners

  • Research

  • Development of Training materials

  • Compliance reviews

  • Requesting and Analyzing Proposals

  • Farming hops

With hearing loss, there is a universe of possibilities.

Dexterity

Requires: typing on a keyboard, steady use of all digits

Example 1

A Software Developer is diagnosed with Ulnar Nerve Palsy, a neurological condition in this case depriving him of effective use of one hand.  

With True Own Occupation Disability Insurance, full benefits are payable without offset even if the Software Developer earns income in a different occupation such as:

  • Training

  • Supervising developers (not coding)

  • Executive Leadership

  • Starting a business

Example 2

A Cardiovascular Surgeon is diagnosed with Multiple Sclerosis (MS), resulting in a loss of hand dexterity and coordination.  In this case, disease management is relatively successful, enabling her to function normally otherwise, but she is not fit to perform surgery.    

With True Own Occupation Disability Insurance, full benefits are payable without offset even if the Cardiovascular Surgeon earns income in a different occupation such as:

  • Teaching at a University

  • Hospital Adminstration

  • Research work

  • Primary Care

  • Starting a business

Regular & Continuous Attendance

Requires: reliable attendance and availability

A Business Development Director experiences intermittent seizures, occurring at random times, interfering with important sales meetings and presentations of both internal and external nature.    

With True Own Occupation Disability Insurance, full benefits are payable without offset even if the Business Development Director earns income in a different occupation such as:

  • Associate training, remotely from home

  • Reviewing Sales Contracts

  • Research associate within the same field

What is "True" Own Occupation Disability Insurance?

"True" Own Occupation coverage is not the same thing as own-occupation coverage.  

  • 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.

  • True own-occupation permits supplemental earnings on a sustained basis, rather than a temporary basis.

  • True own-occupation generally honors the manner in which the individual is accustomed to performing his or her occupation, even if the occupation as a whole could be performed in different ways.

Carriers use different words to describe the concept.  "True" own occupation is the most common label, but it may also be referred to as "regular" own occupation, "pure" own occupation, and sometimes just plain "own occupation" without a moniker, in which case a deep dive into the policy language is the only way to know it's there. 

 

Regardless of what carriers call it,  Disability Underwriters will illustrate options that align with your intentions.

 
 

Disability Underwriters

1420 5th Avenue   Suite 2200

Seattle, WA     98101

(206) 673 2219