Why do physicians need own-occupation disability insurance?
Own-occupation disability insurance pays benefits if you are unable to perform the specific duties of your medical specialty — even if you could technically work in another field. Most group disability plans and many individual policies use an 'any-occupation' definition, which means you only receive benefits if you cannot work in any job at all. For a surgeon who develops a hand tremor or a radiologist with a vision impairment, the difference between own-occupation and any-occupation coverage can be the difference between full benefits and none. This is the policy most physicians do not have and every physician should.
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- Personal Insurance
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- General
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