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Three Industry Definitions of Disability
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Friday, August 19, 2016

The promise of disability insurance is that if your client is unable to work for an extended period of time, all, or at least a portion of their income, will be protected. DI offers the security of income protection in an uncertain world where accidents and illness can happen to anyone.

But you’re doing your clients a disservice if you’re not making sure they are well informed about what you’re promising. If you find that clients decide against income protection, it could be that they don’t fully understand some of the key terms insurance agents use every day. For example, there’s a popular misconception that disability insurance is only available to people who have suffered a physical injury and can never return to work. The definitions below may help your clients understand what is at stake, and who can benefit from DI.

Total Disability: Unable to Work in Any Job

When someone suffers a total disability from illness or injury, they are prevented from performing the duties of his or her occupation, or any other occupation.

Partial Disability: Unable to Work in the Same Capacity as Before

If an insured individual is still able to work after recovering from an illness or injury, but have experienced a loss of duties, a loss of time on the job, or loss of income, they are covered by partial or residual disability. Often partial disability is built into the plan automatically for a set period of time, such as six months. Different plans will offer different percentages of income that they cover as well as different lengths of time they will cover the insured. Premium plans will even pay benefits to insured clients who are injured or suffer from a debilitating illness after they return to work, as long as they’re still within the policy’s insured period.

Recovery Benefit: Able to Return to Work

Individuals who suffer an injury or illness that prevents them from working for a period of time or that limits their ability to do their job and therefore causes loss of income are eligible for a recovery benefit.

Call our office anytime with questions about selling disability insurance to your clients. We’re always happy to help.





 
 
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