DI for Master's and Ph.D's. white collars

[Crazy Rick]

Gentlemen,

Is it me or do the carriers that write DI policies play this Any occ. Own occ. game like we don’t know what’s going on? For example. If I have a client with a Master’s, who’s obviously qualified to flip burgers at Wendy's, what would his policy design look like? He already knows he’s not going to be able to collect $6k a month if he stubs his toe. But, he wants to be sure that if he contracts a ltd, it’s going to be covered and he can throw out his Wendy's paper hat.


Neither he nor I want to hear excuses from the carrier. "It clearly says, IF he FALLs down the stairs, during the month of July and during a hail storm and he satisfied his calendar year elimination period, theeeeeennnn he’s covered." Forget that noise, right now.


-CR

 

[padthaiforlunch]

Which is why you want 'own occ.' Don't see why that wouldn't be available for someone with an advanced degree, unless they're not using it.

 

[Crazy Rick]

Fine Own occ. Then the carrier will say what we anticipated them saying: "Ok Mr. Jones, you can't work
as a school teacher anymore due to your ltd, but you can work at Wendy's for $3k a year, you're obviously qualified with your Master's, so sorry."

My accociate had a client with a Master's and this happened to him. The carrier flew my associate all the way from New Jersey to Texas for a 20 minute meeting only to tell him: "No, Robert, your client doesn't understand. He's got a Master's he's qualified to do something."


-CR

 

[padthaiforlunch]

Own occ means that the client doesn't have to get another job they are qualfied to do.

Some carriers will discontinue or deecrease di payments if the client takes on work, while others will pay in full even if the client is able to earn outside of his occ. So, he can't teach, but he can write a text book? The right policy will still pay.

 

[Delta76]

That is why you don't buy DI on price, but the definition. Guardian has the best written definition that I'm aware of for white collar workers.