How Occupational Duties can Affect your Disability Insurance
When completing a disability insurance application, you are asked to identify your occupation. You are also asked for your occupational duties and the time spent performing those duties. You may wonder why your duties and the time spent on them so important.
In calculating premium rates for disability insurance, you are given an Occupational Class. These classes are based on the requirements of your job and the risks that your occupation potentially poses to your health.
For example, if you noted on your application you are an engineer. There are several types of engineers and one type may have more physical risks over another. A typical computer software engineer spends most of their time in an office setting designing and developing computer software. A nuclear engineer on the other hand could be conducting tests with nuclear and radioactive materials. They also may be working at a nuclear power plant. As you may guess, a nuclear engineer may be exposed to more health and injury risks than a computer software engineer. The more time the engineer works with, or is in an environment where there are hazardous substances the higher the risk. Therefore their premium rates may be higher due to that risk.
Another example would be a physician. An allergist would perform their duties in an office setting and would not be performing non-invasive duties. A cardiologist or other type of surgeon is usually performing invasive procedures in an operating room. The surgeon’s occupational duties pose a higher risk of sickness or injury due to the type of procedures they are performing and the greater physical demands associated with their duties.
About the author: Teri Costen has been in the life insurance business for over 20 years. She is a mother of three who enjoys working out, taking aerobic kickboxing classes, and making stained glass. Teri believes that finding the right life insurance policy helps protect your family and loved ones. You can contact Teri at 1-800-651-1953 or TCosten@Pivot.com.