MTHEL131 Lecture Notes - Lecture 10: Christiaan Barnard, Myocardial Infarction, Underwriting
12 Mar 2014
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Top disability insurance providers: rbc insurance, bought small life insurance company, bought the canadian operations of unum (disability insurance operators, great west life, canada life. Reasons for the pricing of policies by occupation: safer work environment, moral hazard, large amount of time and effort put into becoming a professional, more incentive to return to work at the first opportunity. Disability insurance is paid out when individual is unable to work. Each policy has a different carefully constructed definition of disability. Claim examiner examines the claim according to the definition of disability outlined in the policy. Inability to perform the essential duties of your own occupation: can still earn money from another job and be paid insurance benefit, most lenient, regular occupation: Inability to perform the essential duties of your own occupation: money from another job will be reduced from insurance benefit, any occupation. Inability to perform the key responsibilities of your own occupation.
