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Today's Terms
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.
Windfall Offset
Definition:
A provision to prevent a person from receiving monthly SSI and OASDI benefits in excess of the total amount which would have been paid if the OASDI benefits had been paid when they were due rather than retroactively.
Cost-of-living adjustments
Definition:
Each January, your benefits will increase automatically if the cost of living has gone up. For example, if the cost of living has increased by 2 percent, your benefits also will increase by 2 percent.
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