Own-Occupation Policy

Own-Occupation Policy
An insurance policy that covers individuals who become disabled and are unable to perform the majority of the occupational duties that they have been trained to perform. This type of insurance policy is contingent on the individual being employed at the time the disability occurs.

Also known as a "pure own-occupational policy".

Persons not working at the time of disablement will not be able to claim insurance under an own-occupation policy but, if they are covered under a modified own-occupational policy, they will. Under a modified policy, the definition of disabled includes persons not working at the time of their disablement. These types of insurance policies apply to highly trained individuals, such as surgeons.

Because the definition on own-occupation is very flexible, persons covered under an own-occupation policy may find another job and still receive full benefit payments.


Investment dictionary. . 2012.

Игры ⚽ Нужно решить контрольную?

Look at other dictionaries:

  • Any-Occupation Policy — A term used in the insurance industry to refer to a specific definition of disability when writing disability insurance policies. If you get into an accident that restricts you from working, you would be considered disabled, but disability… …   Investment dictionary

  • Occupation of the Baltic states — Part of a series of articles on the Occupation and annexation of the Baltic states …   Wikipedia

  • Occupation of Belarus by Nazi Germany — Part of World War II …   Wikipedia

  • Occupation of Constantinople — Part of the Turkish War of Independence USS Noma (SP 13 …   Wikipedia

  • Occupation of Denmark — Headquarters of the Schalburg Corps, a Danish SS unit, after 1943. The occupied building is the lodge of the Danish Order of Freemasons located on Blegdamsvej, Copenhagen …   Wikipedia

  • Occupation of Norway by Nazi Germany — German officers stand in front of the National Theater in Oslo, 1940 …   Wikipedia

  • Occupation of Estonia by Nazi Germany — After Nazi Germany invaded the Soviet Union on June 22, 1941, the Wehrmacht reached Estonia in (July 1941). Although initially the Germans were perceived by most Estonians as liberators from the USSR and its repressions, and hopes were raised for …   Wikipedia

  • Occupation of the Channel Islands — As part of the Atlantic Wall, between 1940 and 1945 the occupying German forces and the Organisation Todt constructed fortifications round the coasts of the Channel Islands such as this observation tower at Les Landes, Jersey The Channel Islands… …   Wikipedia

  • Occupation of Lithuania by Nazi Germany — Lithuanian Jews and a German Wehrmacht soldier during the Holocaust in Lithuania. June 24, 1941. The occupation of Lithuania by Nazi Germany refers to the occupation of Lithuania by Nazi Germany from …   Wikipedia

  • Occupation of Iraq timeline — Timeline of events during Multinational force s occupation of Iraq, following 2003 invasion of Iraq, and relevant quotations about nature of occupation from officials. See also : 2003 Iraq war timeline, 2003 in Iraq, 2004 in Iraq, 2005 in Iraq,… …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”