If you are the major breadwinner in your family and you happen to get injured or disabled for a certain amount of time do you have the correct policies in place to protect your income. We all think of disability insurance as a means to help pay some of the bills while we are temporarily out of work due to an injury or long term illness. What I found interesting is that in certain cases your disability insurance may only cover you up to a certain point even though you may still need benefits. This is especially true if you are working professional or physician where your revenue flow is dependent on your presence.

There is a definition in disability insurance called own-occupation insurance. This is where if you were able to return to work after a disability, but because your ability to work limits your income then this type of insurance will help to cover part of your lost income. A great example of this would be an attorney who was away from practice because of a disability and had to rebuild their clientèle’s back up. The revenue and income may take longer to get back to their original condition and would not normally be covered under normal insurances. With own-occupation insurance they will help to cover some of the lost income until you are able to recover at your previous levels. Plus this type of insurance can be carried with you and not dependent on your employer.

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