Investopedia

Continue to Site »

Any-Occupation Policy

Filed Under » , , , ,
Dictionary Says

Definition of 'Any-Occupation Policy'

A term used in the insurance industry to refer to a specific definition of disability when writing disability insurance policies. If you get into an accident that restricts you from working, you would be considered disabled, but disability insurance policies have specific definitions in order to qualify for the benefits. The "any occupation" definition is the stricter definition of disability, where you are unable to work in a job that is reasonably suitable for you based on such things as education, experience and age.
Investopedia Says

Investopedia explains 'Any-Occupation Policy'

The other common definition of disability is the "own occupation" classification. This definition considers you disabled if you are unable to perform the same job that you worked prior to the accident. For example, if you were a surgeon and you injured your hands, you would be considered disabled under the "own occupation" definition.

Articles Of Interest

  1.

    Introduction To Social Security

    You've probably contributed to this fund, but will you reap the benefits? Find out here.

  2. Choosing The Best Disability Insurance

    Social Security benefits can be hard to collect. Find out why you need disability insurance to protect your income, and learn how to choose the right policy for you.

  3. Long-Term Care Insurance: Who Needs It?

    No one is immune to the possibility of one day needing long-term care - and the costs can deplete a life savings.

  4. 15 Insurance Policies You Don't Need

    Learn how to save money by saying "no" to unnecessary coverage.

  5. Top Tips For Cheaper, Better Car Insurance

    Accident, theft, vandalism - make sure your coverage will protect you when you need it most.

  6. Financial Designations That Employers Require

    We break down the designations that are important to have if you want to work in the financial sector.

  7. Retirement: The One Thing Couples Shouldn't Do Together

    Staggering retirement can have both financial and emotional benefits for married couples.

  8. Top 5 Budgeting Questions Answered

    You don't need a degree to understand your money, begin saving and pay down debt.

  9. Investing In Medical Equipment Companies

    Learn the basics about medical equipment companies and how investing in them can benefit growth and value investors alike.

  10. Tax Variations Of The HEART Act

    The HEART Act is designed to allow service members and reservists make a smooth financial transition into active duty and back into civilian life.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Winner's Curse

    Because of incomplete information, emotions or any other number of factors regarding the item being auctioned, bidders can have a difficult time determining the item's intrinsic value. As a result, the largest overestimation of an item's value ends up winning the auction.

  2. Glocalization

    A combination of the words "globalization" and "localization" used to describe a product or service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market.

  3. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  4. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  5. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  6. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.
Trading Center