Total Disability (Own Occ)
Disability definitions vary: own-occupation pays when unable to perform the material duties of one's own occupation (favorable for professionals); any-occupation requires inability to work at any gainful employment.
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Practice This Concept
A group health policy terminates while an insured is totally disabled from an injury that began while the policy was in force. The policy contains an extension of benefits provision. What is the effect?
Benefits for the disabling condition continue for a limited period after termination — An extension of benefits (also called continued benefits) clause protects an insured who is totally disabled when a policy terminates. The insurer continues to pay benefits for the disabling condition for a limited period after the policy ends, even though the policy is no longer in force. This prevents a gap in coverage for a loss that began while the insured was protected. The extension applies only to the condition already causing total disability, not to new conditions.
National insurance concept
A life insurance policy includes a disability income rider. If the insured becomes totally disabled as defined by the policy, the rider will typically:
Pay a monthly income to the insured during the disability — A disability income rider on a life policy provides monthly income payments to the insured if total disability occurs, replacing lost earnings. Benefits are typically expressed as a stated monthly amount or a percentage of the face amount, and payments begin after an elimination period while the insured remains disabled. The rider does not increase the death benefit, does not convert the policy to health insurance, and does not pay the death benefit early. The base life policy remains in force, often with premiums waived under a related waiver provision.
National insurance concept
- Medical ExpenseA group health policy terminates while an insured is totally disabled from an injury th…
- Life InsuranceA life insurance policy includes a disability income rider. If the insured becomes tota…
- Life InsuranceA disability income rider attached to a life insurance policy provides the insured with:
- Life InsuranceA disability income rider added to a life insurance policy provides:
- Life InsuranceA disability income rider attached to a life insurance policy provides:
- Life InsuranceA disability income rider attached to a life insurance policy provides what benefit if …
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