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Medical retirement is an option for those who acquire a disability that makes it impossible to continue working. It is possible to receive retirement benefits and financial assistance from the government, but evidence from a doctor is required. Disabilities leading to medical retirement can happen to anyone, and it is important to be familiar with workplace policies and consider purchasing income protection insurance.
Medical retirement is an early retirement from a job due to an acquired disability that makes it impossible to continue working. Depending on workplace policies, the employee may be eligible for some retirement benefits. It is also generally possible to apply for financial assistance from the government when disabilities make a person unable to work. To qualify, individuals generally must have evidence from a doctor that supports their medical retirement claim.
Illnesses and injuries do not have to be workplace related for people to enter medical retirement. People can acquire disabilities in various ways. Patients should meet with their doctors to discuss the situation so that the doctor can examine the patient and determine the nature of the disability and its permanence. For temporary problems, the doctor may recommend taking medical leave, allowing the patient time off so they can return to work after they have recovered.
If a doctor believes that a disability is permanent and makes it impossible for the patient to work, he or she may write a report containing the findings. The employee submits this to the workplace with a request for medical retirement. Human resources staff will review the materials and determine whether to accept the application. They can also provide information on how to access retirement benefits and other job assistance; a workplace may offer severance pay or a settlement, for example.
People who retire from one job for medical reasons may be technically capable of working at a different job. This can lead to denial of disability benefits or income protection insurance, depending on government policies. People can ask a medical professional to determine if they are completely unable to do any work. Periodic reassessments may be necessary to see if the patient is recovering, depending on government policies.
Disabilities leading to medical retirement can happen to anyone, and people may want to prepare for it. An employee should be familiar with the policies at their workplace so that in the event of a medical retirement, they are prepared in advance. Professionals, such as doctors and lawyers, may consider purchasing income protection insurance, with a rider specifying that insurance benefits take effect when they are certified as unable to work in their chosen professions. If a doctor can no longer practice, for example, the insurance will provide regular payments even if the doctor could do other work.
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