Language in disability insurance policies can vary from being very favorable for the insured to being so unfavorable that even the severely disabled would have difficulty qualifying for benefits. Most disability policies, for at least some period of time, provide disability benefits in the event that the insured is not able to perform the substantial and material duties of their “own occupation” or “regular occupation”. The definition of “own occupation” can vary depending on the state where the policy is issued and the insurance company that issues the policy. Most people believe that their “own occupation” disability policy insures them in the event that they cannot perform the specific duties of their specific job at their specific employer, however, that is not always the case, and certainly not the case in some group disability policies issued by The Standard Insurance Company.
Read more »