Question

Pierre-Marc, aged 32, is a dentist with a rich clientele. His income is substantial. Five years ago, he purchased an “any occupation” disability insurance policy. Today he meets with Joseph, his life insurance agent, to determine whether this type of coverage is still adequate. What should Joseph tell him?

Accepted Answer

This type of coverage is no longer adequate. Pierre-Marc should purchase “own occupation” coverage, which would allow him to collect benefits even if he can work in another profession and chooses to do so.

Answer

This type of coverage is adequate because it is more flexible. Pierre-Marc will be entitled to disability benefits even if he can work in another profession and chooses to do so.

Answer

This type of coverage is adequate. Pierre-Marc will be entitled to disability benefits even if he can work in another profession, provided he chooses not to do so.

Answer

This type of coverage is no longer adequate. Pierre-Marc should purchase an accidental death and dismemberment rider, which would allow him to collect a lump-sum benefit if he injures his hands.

Pierre-Marc, aged 32, is a dentist with a rich clientele. His income is substantial. Five years ago, he purchased an “any occupation” disability…

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