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Today's Terms
Conversion Privilege
Definition:
If included, this option allows employees who are terminating employment to continue some or all of their LTD coverage at their own expense without submitting evidence of insurability.
Own Occupation (Own Occ)
Definition:
Under this definition, an insured will be considered disabled only if he or she is unable to perform the duties of his or her occupation.
Outcome Payment System
Definition:
The system providing a payments under the Ticket to Work program to an employment network for each month, up to a total of 60 months, during which Social Security disability benefits and Federal SSI cash benefits are not payable to a beneficiary because of the performance of substantial gainful activity (SGA) or by reason of earnings from work.
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