Under this type of cover there are two options – Any Occupation Disability and Own Occupation Disability. 

Under the Any Occupation you would receive the insured benefit if you could never return to any form of paid employment.  However if you could be retrained or had prior experience in a suitable occupation you may not receive a benefit.  

Any Occupation cover is usually found attached to life cover and can also be found attached to a superannuation plan.

The Own Occupation definition would provide a lump sum benefit if the insured was unable to return to the occupation carried out prior to the disability.

This option is the preferred.

It is important to be aware that if Own Occupation cover is in place within a superannuation plan and a claim made the insurer will pay the benefit into the superannuation fund and the insured will then need to meet payment criteria and in some cases may not receive the benefit until retirement.