I have a personal disability income policy for a long time. It contains the following language:
Regular Occupation: the occupation or occupations in which you are regularly engaged at the time you become disabled.
Total disability means: you are unable to perform the material and substantial duties of your Regular Occupation and receive Regular Medical Care
I have been working for the last several years for an employer therefore my occupation is well defined. Now I want to resign that job and start my own consulting company (I will be the only employee/owner of that company).
I wish to register that company, as an LLC or sole proprietorship, with the Division of corporations of Florida. https://dos.myflorida.com/sunbiz/. My questions are
(i). Once I register, will it be enough to prove that I am regularly engaged in an occupation?
(ii). How the material and substantial duties of my occupation will be defined in case there is a disability claim? Will the Purpose or Statements information that I provide with the Division of corporations of Florida, when I register my company, be enough?
(iii). How much time will be considered as “regularly engaged” in my new occupation (i.e., consulting company work)? What if I start this consulting company today and I am disabled tomorrow due to an accident? Will it be treated as if I am regularly engaged when I am disabled (if not, how many dyas or months should be passed)?
A related question is: is it possible to have a regular occupation without registering a company with the Division of corporations of Florida?
I wish I never get disabled but, at the same time, I should be covered by my disability insurance policy in case I am disabled once I start my company.
Regular Occupation: the occupation or occupations in which you are regularly engaged at the time you become disabled.
Total disability means: you are unable to perform the material and substantial duties of your Regular Occupation and receive Regular Medical Care
I have been working for the last several years for an employer therefore my occupation is well defined. Now I want to resign that job and start my own consulting company (I will be the only employee/owner of that company).
I wish to register that company, as an LLC or sole proprietorship, with the Division of corporations of Florida. https://dos.myflorida.com/sunbiz/. My questions are
(i). Once I register, will it be enough to prove that I am regularly engaged in an occupation?
(ii). How the material and substantial duties of my occupation will be defined in case there is a disability claim? Will the Purpose or Statements information that I provide with the Division of corporations of Florida, when I register my company, be enough?
(iii). How much time will be considered as “regularly engaged” in my new occupation (i.e., consulting company work)? What if I start this consulting company today and I am disabled tomorrow due to an accident? Will it be treated as if I am regularly engaged when I am disabled (if not, how many dyas or months should be passed)?
A related question is: is it possible to have a regular occupation without registering a company with the Division of corporations of Florida?
I wish I never get disabled but, at the same time, I should be covered by my disability insurance policy in case I am disabled once I start my company.
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