The purpose of long-term disability insurance is to ensure a steady income for members of society who have become incapable of work due to a severe, long term disability. A large number of big scale corporations have begun to add disability insurance to the benefit packages of their employees. If you are not employed at such a corporation, you will be able to purchase your own private disability insurance which provides the same coverage under the same circumstances. Special policies are also available for surgeons, athletes, or the like, if they wish to obtain certain benefits in the event of a disability sustained while they practice their profession.
It should be noted that the legal language of these policies can vary greatly between providers, since regulations have only been instilled in recent years. Thus, you should read closely since the differences between offered policies may be great, but hidden in unusual wording. As a result, it is common that people are denied their benefits initially, and before they bring in an injury lawyer in Oakville to help them understand the complex legal terms of their policy.
Own Occupation Coverage
A lot of policies apply to own occupation coverage, which states that the client is required to be fully incapable of practicing their own occupation due to their disability. Own occupation refers to the job they were working during the time they became disabled. This requirement will often not be explained to the client by their insurer. However, when you work with a lawyer, they will make sure that everything goes in your favor while they will educate you about the process and your rights.
This term tends to take on different meaning between policies, but generally refers to a state of disability which leaves the client unable to continue to practice their occupation without inflicting further harm on themselves. In regards to this, insurance companies will often try to deny benefits by claiming their client could still take on certain tasks requires by their occupation. However, a long series of past cases have shown that a client does not need to be fully helpless to be considered totally disabled. If they cannot take on all tasks required by their own occupation, then they meet the requirement of totally disabled under their policy.
After two years of this total disability in regards to their own occupation, many policies will change requirements to total disability under any occupation. This means that the client will need to be totally disabled in regards to practicing any occupation they already qualify for, or could qualify for after a training period.