Disability insurance for orthodontists

[mmc12]

Hello,
I was wondering how necessary it was to get disability insurance as an orthodontist? I'm currently a general dentist but will start orthodontics residency next summer. I currently pay 130 a month for I believe 4200 a month coverage. I've talked to some dentists and they said to get another policy for more coverage

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[charlestweed]

If you owe a lot in student loan and you don’t want to be a burden for your spouse/kids , then you should have disability insurance. As soon as my wife and I paid off our student loans, we cancelled my wife’s policy. I can work to support my wife if she can’t work. I still keep mine. I bought the insurance when I was a 2nd year resident and I currently pay $1700/year for a $5k/month coverage.

 

[2TH MVR]

I've had my personal disability policy since day 1 after graduating. I've paid into it too long to give it up. I pay about $1200/month for around $5000/mos coverage. Guardian policy that was recently purchased by Bershire Ins. Co.

 

[gryffindor]

$130/mo for $4200 is cheap. If you are the sole provider, it's probably prudent to buy more. I wound up as a disabled orthodontist unfortunately quite young. If you have questions or doubts, message me.

 

[MD Financial Services Scott]

I've had my personal disability policy since day 1 after graduating. I've paid into it too long to give it up. I pay about $1200/month for around $5000/mos coverage. Guardian policy that was recently purchased by Bershire Ins. Co.[/QUOTe
This has to be a mistake (typo), you are not paying $1,200 per month for $5,000 of monthly benefit? Usually you pay between 2-4% in premiums for the annual benefit of the policy. On $60,000 of annual benefit the cost should be around $1200 per year or $100 per month. If in fact you are paying $1200 per month for $5,000 per month of benefit you need to shop that around.

 

[2TH MVR]

whoops. You are correct. I pay around $1200 per QUARTER.

my bad.

 

[siba]

Hi, I've graduated a few years and started to look into buy disability insurance. So far, Mass Mutual offers me the cheapest individual policy, around $300/month premium for 5k/month benefit, because they have this "unisex discount" rate going on. Anyone knows if there might be any catch in going for an "unisex discount"?

 

[sb.tnh]

I’m actually interested in buying disability insurance as a dental student if that’s even possible. Does anyone here have any company they recommend for this?

 

[MD Financial Services Scott]

Hi, I've graduated a few years and started to look into buy disability insurance. So far, Mass Mutual offers me the cheapest individual policy, around $300/month premium for 5k/month benefit, because they have this "unisex discount" rate going on. Anyone knows if there might be any catch in going for an "unisex discount"?

$300 sounds really high, we usually see a price point of around $25 per month per $1,000 of benefit assuming you are in good health and early 30's.

 

[MD Financial Services Scott]

I’m actually interested in buying disability insurance as a dental student if that’s even possible. Does anyone here have any company they recommend for this?

Your school probably has a relationship already formed with one of the big 6 carriers so check that out. Most likely you will be limited to about $1,000 to $1,500 as a student so you know thus getting some increase options will be important.

 

[siba]

$300 sounds really high, we usually see a price point of around $25 per month per $1,000 of benefit assuming you are in good health and early 30's.

How do I reach you to get a quote? Thanks

 

[MD Financial Services Scott]

How do I reach you to get a quote? Thanks

303-953-0263 is a direct number for me.