A policy that covers your exact occupation is the best. It's easier to get when it's an occupation underwriters really understand. For instance a surgeon can easily get an occupation-specific policy because it would be easy to determine that damage to her hands would cause her to lose her income producing work.
It's harder to get a similar policy for say, an entrepreneur. What part of our body allows us to do what we do?
Thus, most startups that get a policy have to get the 2nd type--if you can work elsewhere after an injury, you don't qualify. There's one addendum, however, that is still crucial. You can get a policy that requires the new job have a similar income level. Thus, if you were only able to do work at a 70% decrease in salary, the policy would be triggered and you'd receive your benefit.
A policy that covers your exact occupation is the best. It's easier to get when it's an occupation underwriters really understand. For instance a surgeon can easily get an occupation-specific policy because it would be easy to determine that damage to her hands would cause her to lose her income producing work.
It's harder to get a similar policy for say, an entrepreneur. What part of our body allows us to do what we do?
Thus, most startups that get a policy have to get the 2nd type--if you can work elsewhere after an injury, you don't qualify. There's one addendum, however, that is still crucial. You can get a policy that requires the new job have a similar income level. Thus, if you were only able to do work at a 70% decrease in salary, the policy would be triggered and you'd receive your benefit.