What Are Some Popular Features You Should Consider Putting in Your Dentist Disability Coverage?
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What Are Some Popular Features I Should Consider Putting in My Dentist Disability Coverage?
Basic dentist disability insurance coverage can be a financial lifesaver should you suffer an injury or illness that prohibits you from practicing your specialty. However, basic coverage may have “gaps” in coverage or limitations that could cause problems in the future. Fortunately, there are additional features you can add to your disability insurance that could prove to be very valuable to you.
- Own occupation coverage. A low quality disability insurance for dentists coverage contains “any-occupation” language. Therefore, if you recover sufficiently to perform the duties of “any gainful occupation,” you may be denied future benefits once you reach this level or have benefits lowered by the amount of income you make in a new occupation. Own occupation coverage means that you are considered disabled if you are unable to perform the duties of your occupation. In some of the best disability insurance policies for a dentist, it is the inability to perform the duties of your specialty.
- Residual disability coverage. Should you become not totally but only partially disabled and incur an income loss, this provision normally allows you to receive a pro-rata amount of disability income benefits. This is an important provision especially during the recovery phase as one returns to work. There are differences among the insurance companies in how they calculate residual or partial benefits of disability for a dentist. The experts at ProtectYourIncome.com can help compare the companies for you.
- Non-cancelable and guaranteed renewable provision. This provision gives you the security that your insurance company cannot cancel or raise the premiums for your dentist disability insurance (except, of course, for non payment of premium) in the future regardless of your health condition.
- Presumptive total disability benefits. In the event of the loss of your sight, speech, hearing, or two or more limbs, you will immediately qualify for income benefits. This benefit or some variety of it is usually included in a disability insurance policy for dentists.
- Waiver of premium. This feature usually states that, after some period of disability and while the disability continues, no monthly premium payments are required. As you try to minimize your expenses during a period of disability, this provision can be a welcomed additional benefit.
There may be other supplemental features available for private dentists that you want to consider. Look carefully at the menu of coverages offered by insurance companies. Use respected and helpful websites, like ProtectYourIncome.com, to learn about the types of features available in dentist disability insurance coverage.
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.