Disability Insurance, finishing dental school

[kevin512]

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Hello to All:

I am about to complete dental school and now focused on buying disability insurance. I have taken a four year HPSP navy scholarship (graduate in 2012). From what I understand, if I get disabled in the service I would only receive half of my base pay- is the latter correct?

Is there a company that insures dentist that are on active duty? I can understand that the insurance policy would not cover "acts of war/terrorism".

Thank you,
Kevin
ENS, DC, USNR

 

[vellnueve]

Military disability depends on the severity of the disability.

 

[teeth63a]

That's a tricky situation. You are guaranteed disability income from the military if you have a line of duty incident. Disability income is determined from a predetermined pay scale. Your income from disability pay is a percentage of the maximum amount based on what your disability is.

2012 disability scale http://www.military.com/benefits/content/veterans-health-care/va-disability-compensation-rates.html

Hearing loss, PTSD, loss of limb all have varying percentages of payment.

Now how does being a student factor into it? When I was graduating, the local TDIC rep recommended that I sign up for some preliminary disability insurance that got my name on paper but didn't charge me anything at all. I think it locked me in at a young age with good health. After I got out of active duty, I went back to the rep and had the policy put in effect.

My point is, if you have the money, you can pay for additional disability insurance via a private company like TDIC, or you can opt out and join in after you leave the service.

I'm not an insurance agent, and they are the best people to talk to to clarify. Keep in mind they are trying to sell you a product, so you may want to consult a financial planner as well if you have one.