Warning...The Disability Definition In Your
Disability Insurance Policy May Make It Invalid

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Be careful with disability insurance policy definitions. It is important when buying disability insurance to understand the definition of disability. What sometimes may seem to be a fair definition may turn out to be something else. Let us take a look at some of the definitions used in your disability insurance policy.

• Definition Of Disability

  It is of vital importance that we pay attention to the actual definition used by the insurance company. You should be considered disabled if you are unable to perform the duties for which you are trained...that refers to duties in your own occupation...

  The important and key phrase here is your own occupation. Even if you are able to perform some duties in connection with your own occupation and get paid for it you are still deemed disabled...

  Some insurance companies have a tendency to write a definition in your disability policy that reads something like this. If the owner of the policy is unable to perform their duties in "any occupation" the income will be paid...

  What such a definition suggests is that if you are a surgeon and you cannot perform surgery because of physical or mental incapacity but you are able to sweep the floor of the place you used to perform surgery or may be flip hamburgers at a fast food outlet you would be paid...

  That is so misleading because the fact is that you will not be paid one dime by the insurance company. You can perform duties in some occupation so you are not disabled.

  Disability insurance is by no means inexpensive. It is really heartbreaking to see such definitions in a disability insurance policy. There is nothing more frightening to an insurance company than a disability insurance claim...

  If your disability lasts for the rest of your life the pay out can easily run into millions of dollars. So be careful with the definitions included in your disability insurance policy.