Disability insurance comes in two main forms: own occupation and any occupation. Own occupation means you’ll receive benefits if you’re unable to perform the specific duties of your current job, critical for surgeons, lawyers, or architects whose skills are uniquely specialized. On the other hand, any occupation only pays out if you’re unable to work any job suited to your training or experience.
Keep reading to learn more about the differences with Eagle Insurance & Financial.
Why “Own Occupation” Is Often the Better Choice
For professionals facing high earning potential and specific duties (think doctors, dentists, engineers), own occupation is often worth it. Even if you can work in a different role, you’d still lose your primary income stream. That’s how this type of disability insurance in Nashville, TN helps. It protects your livelihood, not just your ability to work in any capacity.
Own occupation policies can be tailored. Surgeons, for instance, would be covered if hand injuries prevent surgery, while they could still teach or consult. This disability insurance ensures you’re paid if your specialty suffers.
Think about your day-to-day tasks. Would a disability sideline you from those?
How an “Any Occupation” Policy Can Let You Down
Any occupation might seem affordable, but its payout triggers are much stricter. You must prove you can’t do any job you’re qualified for. For high-skill professionals, this could leave you working part-time at a much lower wage but still not qualifying for benefits. That gap can devastate finances.
Calculate your minimum income needs. Do you want protection that strict?
Riders & Features That Matter
When shopping for disability insurance in Nashville, TN, look beyond definitions. Riders like residual benefits, cost-of-living adjustments, and future increase options are pivotal for long-term protection. A physician may also add a business-overhead expense rider, reimbursing clinic rent, staff salaries, and utilities if they’re temporarily out. This is another reason why own occupation policies stand out.
List your monthly financial obligations: Staff? Rent? Loans? Consider these things when deciding on your disability insurance in Nashville, TN.
Choosing the Right Policy
Here’s a checklist for thoughtful decision-making:
- Definition of Disability: Own vs Any?
- Elimination Period: How long can you go without income?
- Benefit Period: Till retirement or just 2–5 years?
- Inflation Protection: Does benefit keep pace with cost of living?
- Claim Support: Is the insurer known for smooth payouts?
Do you own a business? Consider that BOE rider, and always confirm you’re working with a knowledgeable agent.
Choose Eagle Insurance for Disability Insurance in Nashville, TN
You deserve a trusted partner. Eagle Insurance & Financial is dedicated to serving the Middle Tennessee area, with expert-tailored own occupation disability insurance. We work with A-rated carriers and offer personalized planning, from residency to retirement.
If you rely on specialized skills for income, own occupation disability insurance in Nashville, TN ensures that if you can’t do your job, your family and lifestyle stay protected.
Ready to secure your future? Contact us at Eagle Insurance & Financial for a free consultation and quote tailored to your profession and goals.
