Any Occupation Income Protection

What Does Any Occupation Income Protection Mean?

Any occupation income protection is a disability insurance policy that provides benefits if the insured acquires a disability preventing them from working in any occupation. This coverage is more restrictive than own occupation disability policies, which only provide benefits if the disability prevents the insured from working in their own occupation but still allows them to work in other jobs. It sits within the broader category of disability insurance, which protects a portion of your income if illness or injury keeps you out of work.

Insuranceopedia Explains Any Occupation Income Protection

To illustrate what any occupation income protection policies cover, consider someone whose work requires precise and dexterous use of their hands. For example, if a surgeon, calligrapher, or concert pianist injures their hand, they would no longer be able to practice their own occupation. However, the injury would not prevent them from taking on another job. They could, for instance, work as a parking attendant, door-to-door salesperson, or receptionist. Although their disability prevents them from performing their own occupation, it does not prevent them from working in any occupation. In this case, any occupation income protection policy would not provide benefits.

On the other hand, if a motorcycle accident leaves the insured with a broken back or significant paralysis, they would be unable to perform most occupations. In such a case, the any occupation income protection policy would activate, providing benefits to compensate for their complete inability to work.

Because the any-occupation definition is harder to qualify under, premiums tend to be lower than own-occupation policies, so it pays to compare what different carriers offer before buying. Many of the top life insurance companies sell disability riders or standalone policies with both definitions, and the wording on the policy is what determines whether a claim gets paid.