We know your work is your passion and that you’ve worked assiduously to get where you are in your medical career today. Chances are you’re working way over 40 hours each week and really don’t see yourself slowing down any time soon. What do you do if an unforeseen disability were to do just that -- slow you down?
The Own Occupation rider comes into play if you were to become consequently totally disabled; this rider (note: depending on the insurance carrier and contract, it may be built-in already) allows you to go work in any other occupation you choose and still receive 100% of your disability benefits, so you can “double dip” essentially.
In order to be considered “totally disabled” it must be determined that you are unable to perform the material and substantial duties of your occupation/medical specialty. Your occupation is what you are doing at the time a disability begins. For example, if part of your practice is performing the duties of an OBGYN (C-sections, delivers, sonograms, well woman exams, Paps, etc.), then all of those duties are considered to be “your occupation”.
To illustrate how this “double dipping” would work, let’s imagine that our example OBGYN has been involved a disastrous car accident; she is now in a wheelchair and has not been able to go back to work in over 3 months. With no official recovery date in sight, her healing is slow yet steady. She is itching to get back to work in some capacity but is not able to do the material duties of her occupation. The Own Occupation rider gives her the freedom and option to go back to work in another occupation if she chooses and is able to do so, while still being paid 100% of her disability insurance benefits. Even though she is working in another occupation, she is still considered “totally” disabled by the insurance carrier because she is not able to perform the material and substantial duties of her occupation (OBGYN).
Take charge of your disability. Get paid in another occupation while you focus on getting back where you want to be –back on your feet and doing what you trained for and love.
Contact us today to learn more!