Insurance Coverage New Dentists Should Consider
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As a New Dentist, What Insurance Coverage Should I Consider?
As you start your professional career here are some types of insurance you should consider.
- Professional liability insurance. You should purchase a level of coverage with which you are comfortable BEFORE you treat your first patient. Depending on your specialty and type of practice, the maximum coverage you need may vary.
- Disability insurance for dentists. Even if you are covered to some level by a group policy, which represents low cost disability insurance for dentists (and possibly not the same level of benefit as an individual own occupation policy), you should consider purchasing individual coverage that protects your income stream and continues benefits until you are able to perform the duties of your specialty.
- Supplemental medical insurance. Once again, even if you have group coverage, examine your benefits carefully. If you see any “gaps” in coverage, or less-than-acceptable provisions, consider purchasing a supplemental policy as part of your dentist's health program.
- Life insurance. If, as is often recommended, you purchased some form of life insurance coverage while in dental school, you should consider increasing your limits now that you will be practicing your specialty. If you're starting your career without any life insurance, study the varieties of coverage and select a plan that works for you now and can be expanded in the future.
Should you become the owner of a practice or a partner in one, give strong consideration to purchasing disability business overhead expense insurance. As a companion of your dentist disability coverage, this policy will help reimburse you for the ongoing expenses of your practice should you become disabled.
Refer to your insurance policy contract for specific information regarding your coverage and for actual terms, conditions and exclusions. The above statements are general in nature and may or may not reflect the actual terms of your insurance policy.