By Dr. Jim Dahle, WCI Founder

If doctors know anything about disability insurance, it’s that they should buy “own occupation” insurance and preferably make sure that their specialty is designated as their occupation. The White Coat Investor often gets inquiries from readers about just how important “own occupation” is and whether it is really necessary.

Let’s get into it today and answer some of those questions.

Definition of Disability and Your Policy

The most important feature is the definition of disability. Unlike life insurance, where life and death are pretty black and white, disability has 50 shades of gray. 

Own Occupation

Your policy will pay if you cannot work in your occupation/specialty, even if you can and do work in another field and make as much money as you want. Just make sure that your occupation is defined as your specialty, not just “physician.”

Own occupation

Keep reading this article on The White Coat Investor.

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