11.1.2 Disability Income Insurance
This type of insurance supplements the disabled person by providing an income to compensate for lost wages. Disability income policies can provide coverage in two ways.
- Accidents only
- Accidents and sickness
Before any benefit payments are made though, the insured must be under the care of a physician and must provide proof of disability.
Disability can be defined in one of three ways.
- Any Occupation - "acc" - includes the inability to work at any occupation the person is reasonably suited for.
- Own Occupation - "occ" - includes the inability to work at the person's regular and customary occupation.
- Presumptive Disability - includes the fact that the person is presumed to be disabled due to a condition such as blindness, deafness, loss of limb, etc.
Lesson 14 contains a detailed discussion on disability income insurance.
