Newbie dentist questions about disability insurance

[redchesus]

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I'm shopping around for disability and professional liability insurance. Do any seasoned dentists have recommendations, what to look for? About to talk to some vendors in the next few weeks, what questions should I be asking them?

I have a disability policy with Guardian that is from D-school rolled over because it was prior to a cycling accident s/p ortho surgery on my right wrist, and i think the maximum payout is $3500/month. Do most dentists eventually get additional coverage on top of this i.e. should I go through underwriting to get more coverage even if my right wrist will be an exclusion at this point?

Thanks in advance for your wisdom!

 

[LBKCLU]

Yes, I would say the most dentists have much more than $3,500 month of coverage inforce. If you had any hardware placed in your right wrist, for most companies that will cause an exclusion rider. MetLife, will typically just do an exclusion rider for the removal or surgical hardware in this case (assuming all else is stable and there is no permanent damage or loss in terms of range of motion). Depending upon your state of residence, you will want to look at Berkshire (Guardian), MetLife, Standard Insurance Company, Principal, Ameritas (formerly Union Central), MassMutual and Ohio National. You want a policy that is Non-Cancelable, Guaranteed Renewable, "Own-Occupation" with a Residual Disability Rider, a COLA Rider and a Future Increase Option Rider.

You can also go to www.whitecoatinvestor.com to read more about how policies compare and things that you should take into consideration.

Hope this helps.

 

[redchesus]

Thanks! That does help.