Disability Ins. while in DS

[yappy]

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Hello,

I was wondering if any current dental school students can help me out with something.

I have been reading over school expenses and their is often a line item titled "Disaiblity insurance". Does anyone know if this covers your tuition expenses should you become disabled during dental school?

For example, if a student was hit by a car and injured their back or hands in their third year would the disability ins take care of their student loan debt?

I know this is terrible stuff to be thinking about but life can be unpredictable at times. It's nice to have piece of mind.

Thanks.

 

[yappy]

For example does anyone have something like this:

https://insurance.ada.org/ada-insurance-plans/student-disability-insurance.aspx


Just the facts:

• $2,000/month -- FREE
• Up to $150,000 in student loan repayment protection -- FREE
• Total discretion for using your cash benefits
• Guaranteed conversion to $4,000 of ADA disability insurance after you graduate

 

[yappy]

EDIT: double post

 

[SoulPower]

Did you just answer your own question?

 

[hamptongirl]

did you just answer your own question?

lol

 

[nevers]

Did you just answer your own question?

The information the OP quoted is taken from the ADA's insurance program. I thought s/he was asking about the typical insurance from the school expenses -- whether it's similar to the ADA one (or is it the ADA one itself?).

 

[UltimateHombre]

This is something that i have also thought a lot about yappy. Especially considering that i am married and she would inherit my debt if something were to happen to me.

This was a good response from an old thread:

There are usually two types of disability insurance students carry; the one sponsered by their school and the ADA policy that can be purchased (for around $75 a year). Neither of them are very good and nothing like postgraduate disability insurance. Since my school's policy might vary from yours, take my advice for what it is worth.

My school's policy pays $1,000 a month for two years after a 90 day waiting period. For anything after two years, you bascially had to be totally (as in you can barely function, let alone be a dentist) disabled. If you worked, any money earned was offset at a 2/1 ratio. Essentially, this means that if you earn $24,000 a year, any benefit from the disability insurance is phased out.

The ADA policy pays $2,000 a month for two years after a 90 day waiting period. It is the same as my school in that anything beyond two years requires total disability. Again, if you work, it is offset at a 2/1 ratio. So if you make $48,000 a year, your benefits are totally phased out. Don't let anyone tell you that the ADA policy is an own occupation policy because it isn't. The ADA dentist policy is own occupation, but their student policy is not.

Basically, the common disability policies available to students are not really that helpful unless you are totally disabled or need a little cash to get by until you find a job. The idea of getting paid for the rest of your life (like in a normal disability policy) is not going to happen. Maybe there are products available on the open market, but I don't know anything about that. I was disabled for a year and neither policy I carried did me any good as I had a job before the end of the 90 day waiting period and was making in excess of $48,000 a year.

So it seems like the type that most carry in dental school is really not that good. However, if you are looking at something pretty good like you would in private practice, it will get spendy. Some numbers that were tossed around in other threads were like 300-400 a month 😱 that's tough to swing as a student. However, those will pay out like 15K a month for life. You could probably find something inbetween for you needs, but you would just need to sit down with a broker and discuss options.

http://forums.studentdoctor.net/showthread.php?t=817382
http://forums.studentdoctor.net/showthread.php?t=796866

 

[yappy]

Thanks for your response. I'm much less worried about getting paid on an ongoing basis as I am the student loan debt. My main concern would be a plan that would take care of outstanding student loans so a student could walk away and go on with their life not worried about paying back 1-3 yrs of dental school without the degree.

This is something that i have also thought a lot about yappy. Especially considering that i am married and she would inherit my debt if something were to happen to me.

This was a good response from an old thread:


So it seems like the type that most carry in dental school is really not that good. However, if you are looking at something pretty good like you would in private practice, it will get spendy. Some numbers that were tossed around in other threads were like 300-400 a month 😱 that's tough to swing as a student. However, those will pay out like 15K a month for life. You could probably find something inbetween for you needs, but you would just need to sit down with a broker and discuss options.

http://forums.studentdoctor.net/showthread.php?t=817382
http://forums.studentdoctor.net/showthread.php?t=796866

 

[budentite]

the ADA provides every dental student with disability insurance while they are in school, for free. you just have to sign up for it.

$2,000/month - for up to 24 months.
Up to $150,000 in student loan repayment protection
Guaranteed conversion to $4,000 of ADA disability insurance after you graduate

https://insurance.ada.org/ada-insurance-plans/student-disability-insurance.aspx


they also provide a small amount of life insurance ($50,000). i guess so in case you die in school (hopefully not by suicide), your family has a little safety net.
again, all of this is free while you are in school, you just have to sign up for it.

https://insurance.ada.org/ada-insurance-plans/student-life-insurance.aspx