Clients using their Own-Occ definition

Mar 14, 2019

  1. DI Guy
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    DI Guy New Member

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    Good morning!

    A question for the DI veterans:

    How many of you have had clients go out on an IDI claim and then return to work under their true own-occ provision?

    I have this is extremely rare, but I would like to get a feel for how rare.

    Thanks!

    DI Guy
     
    DI Guy, Mar 14, 2019
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  2. DI Guy
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    DI Guy New Member

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    Hi! Me again!

    If I am breaking a rule reply to my own post, I apologize, but I want to make sure I understand what happened.

    To be clear, no one on this forum has had a client go out on a disability claim and return to work in a new occupation and continue to collect the benefit?

    Thanks for you patience!

    Sev
     
    DI Guy, Mar 28, 2019
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  3. adjusterjack
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    adjusterjack Guru

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    Considering that there are hundreds of thousands of insurance agents with millions of disability policies it would be silly to draw that conclusion just because nobody responded to your post.

    It might just have been overlooked. I joined this site a year and a half ago and check it once or twice a day and I don't recall seeing your first post.

    Now that I have seen it I can answer your question because I do know somebody with an own-occ disability policy who has been collecting monthly benefits while working in a different, less strenuous, occupation.

    Your question asks for a quantity. So far the answer is a quantity of 1, though I am sure there are many. I just have no idea how many and I suppose neither does anybody else on this site, which may be why your question got no response.
     
  4. DI Guy
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    DI Guy New Member

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    Hi AdjusterJack!

    You're right about the raw numbers, and everything I have heard from the carriers supports the idea that very few folks actually use their "true" one occ benefits.

    It makes sense since people who are too disabled to perform their preferred job are not likely to want to go to school and learn a new trade if they can avoid it.

    I've always been a little hesitant to assume that it's even needed for most people. A modified definition is almost as good and pretty much the same for the majority of people.
     
    DI Guy, Mar 29, 2019
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  5. adjusterjack
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    adjusterjack Guru

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  6. bill3173
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    bill3173 Guru

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    A lot of medical professionals need the "own occ" definition, because the high income is impossible to replace for a surgeon, or endodontist, or any medical specialty that is reliant on precise medical skills, that become useless to him, even from a minor disabling injury.

    I've had two that went out on "own occ" DI, one was a surgeon that lost use of his fingers from frost bite. The other was a dentist with a narrow focus, that something odd happened and I wouldn't want to disclose it here.

    Both of these guys would have been in serious financial trouble, without the "own occ" def. Neither of them have or will return to work doing anything.
     
  7. Lloyds of Lubbock
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    Lloyds of Lubbock Super Genius

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    I know an agent who was a dentist and developed a tremor in his hands and ca no longer work as a dentist.
    He is his compnies leading DI salespesonand has been for many years.
    He is still collecting on his DI policy.
     
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