just wondering do you guys recommend getting disability insurance in our field, i know its another bill but you do get a good discount if your a student or a resident.
disability insurance
- Thread starter mmasurf
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Mmasurf, I believe it is a good Idea though everyone does have their own opinions. As far as I am concerned doctors and dentists should protect their income as best they can, considering we spend up a lot of time and money to get where we want to be in life. I don't know your situation but if I am disabled I don't want to be left with all that school debt and nothing to show for it. However, if you are still a student I would recommend waiting until at least residency because frankly I don't think that you should be paying with school loans to afford a product such as disability insurance.
As an ASDA member, you get free life and disability insurance through ADA Insurance plans. Some schools are beginning to require disability insurance and/or life insurance to help protect the investment that you have made in your education.
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I wouldn't worry about disability insurance in dental school too much, unless you're older - then I would try to lock in a quote while your health is still perfect, though it doesnt hurt to have something in place while in school, considering your loans. Basically you need insurance to protect your income; until you have one, it's not such a pressing need. The ASDA plan is sufficient until you actually start earning money. At that point you'll be better served with another policy that's more flexible and will pay out better should anything happen so you can't work. I forget the details, but the ADA disability insurance is ok but not the best.
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You NEED disability insurance as a dentist - hurting your hands, back, neck, or eyes can stop your career in its tracks. At my school we have multiple professors that are teaching now because they can't practice anymore - dentistry beats you up!
Whether or not you get it in school is up to you. But make sure you get "own-occupation" coverage, meaning that you will still collect your distribution even if you can do another job. Most disability insurances won't pay you if you're able to work in some other profession, so make sure you find one that has an own-occupation clause. The devil is in the details with insurances.
Whether or not you get it in school is up to you. But make sure you get "own-occupation" coverage, meaning that you will still collect your distribution even if you can do another job. Most disability insurances won't pay you if you're able to work in some other profession, so make sure you find one that has an own-occupation clause. The devil is in the details with insurances.
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I started my coverage halfway through 4th year of d-school. It can take awhile to pick the coverage that fits you the best and its good to get the ball rolling. You get a decent reduction in your premium if you start it in dental school. Not a bad idea to start looking during your last year in school.
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The time and money you've put into becoming a dentist is truly an investment on you and your family's future.
I personally feel you would be crazy not to protect that.
I've been told the cheapest time to pick it up is halfway through D4. I will be going with Guardian. Many of the dentists working as faculty at my school are pulling an income from Guardian and an income from the school, as their policy allows double dipping.
I personally feel you would be crazy not to protect that.
I've been told the cheapest time to pick it up is halfway through D4. I will be going with Guardian. Many of the dentists working as faculty at my school are pulling an income from Guardian and an income from the school, as their policy allows double dipping.
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Remember there are three things that can put you in the poor house:
1) Medical Bills
2) Disability
3) Gettin' sued
If you don't get insurance now, then you will later. My guess is that you have medical and malpractice, just don't wait too long for the disability.
1) Medical Bills
2) Disability
3) Gettin' sued
If you don't get insurance now, then you will later. My guess is that you have medical and malpractice, just don't wait too long for the disability.
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BEWARE I am a dentist who became disabled. The ADA policy through Great West did everything policy not to pay me. MASS MUTUAL has been amazing. They did testing of my hand no hassle they paid me immediately when Great West found a loop hole to deny me. I HIGHLY RECCOMEND DISABILTY INSURANCE. I practiced 22 years a and had a freak accident, 99% of the people with my injury do fine. I didn't, even if you can only afford Great West get it. Thank goodness I had 2 policies worth every penny I paid for 22 years.
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If you get disabled your student loan gets forgiven
