Veterinarians, more so than any other medical professionals, tend to look to Association programs such as the American Veterinary Medical Association to purchase their Disability Income insurance.
The truth is that these types of policies leave much to be desired other than the price.
Although the pricing of these policies can be very attractive, the coverage may not be quite as good as one would assume.
Veterinarians are very skilled and specialized professionals that devote a large number of years to academia and training in order to become licensed, practicing Veterinarians.
As a Veterinarian you achieve a level of specialty beyond what the average US worker will ever have.
For that, it is important to protect your specialty and skill with quality Disability insurance that is specific to the duties of a Veterinarian or Veterinary Surgeon.
Veterinary Surgeons, possibly even more so than Veterinarians, should protect their income and future quality of life with Disability insurance that is specific to the duties of a Veterinary Surgeon.
In order to do this, Veterinary surgeons should pay close attention to the Definition of Total Disability provided in their Disability Income contract.
The terminology that specifies the most elite level of protection is called "Own-Occupation".
In order to truly protect your specialty as a Veterinary Surgeon you need to take this one step further by looking for a True Own-Occupation definition of total Disability.
The primary difference within the two different versions of "Own-Occupation" Disability insurance in today's market is whether or not a Veterinary surgeon is able to collect disability benefits while working in another occupation.
To assist in your understanding, consider the following two explanations: True Own-Occupation: Total Disability means that solely due to an injury or illness, you are unable to perform the material and substantial duties of your regular occupation, even if you are gainfully employed in another occupation.
Modified Own-Occupation: Total Disability means that solely due to an injury or illness, you are unable to perform the material and substantial duties of your regular occupation, and are not gainfully employed.
Unfortunately there are many policies available to Veterinarians and Veterinary Surgeons that do not provide this level of protection.
In fact, there are even many sales representatives that influence Veterinarians not to take the definition of Total Disability as seriously as it should be.
It is apparently "unlikely" that Veterinarians will ever benefit from having this provision included in their Disability Insurance policy.
However, before making your decision, consider this: Veterinarians and Veterinary Surgeons are typically very hard working professionals.
If you become disabled and are unable to practice Veterinary medicine or surgery but are still capable of doing something else, are you more likely to lay in bed doing nothing or get up and do something else as a normal hardworking person does? Any definition of total disability other than the "True Own Occupation" will penalize you for working elsewhere while unable to work as a Veterinarian or Veterinary Surgeon.
All other definitions will reduce your benefits by any income you earn while on claim.
If you are considering spending money on Disability insurance, be sure to purchase the most comprehensive policy that offers the most liberal definition of disability available, which is the True Own-Occupation definition.