Are you a periodontist? If so, chances are that your income is responsible for covering most of your family’s monthly financial obligations. It’s important that you protect that earning ability, and periodontist disability insurance gives you the means to do just that.
What Is Periodontist Disability Insurance?
Disability insurance is exactly what it sounds like – insurance protection that covers your income in the case that you become injured or ill, and unable to work for a period of time. Think you already have this type of coverage with other insurance products you currently have? Chances are good that you don’t. Most professionals in the US lack any type of disability insurance, whether short or long term. It’s not available through your auto insurance, your health insurance, or your homeowner’s insurance, for example.
Why You Need Periodontist Disability Insurance
As a periodontist, you likely earn between $80,000 and $310,000 per year. That income is responsible for allowing you to pay for your home’s mortgage, for your autos, and even for your children’s school tuition. However, a single disability could remove your ability to meet those financial obligations. What would you do then? Would you be able to meet your regular expenses without a stable source of income?
Back injuries, cancer, heart disease – these are just a few of the most common causes of long-term disability and financial instability in the country.
Will Other Insurance Policies Help?
Shouldn’t worker’s compensation provide the coverage you need? In a sense, yes, but your worker’s comp only applies if you’re injured on the job, not outside of it. But have you thought about what would happen if you were injured elsewhere? Your health insurance doesn’t provide any coverage for lost income and that would be inevitable if you are unable to work due to an injury. Your auto insurance surely won’t give you a supplemental source of income if you’re injured and unable to work.
That leaves you with little to no protection in the event that you’re not able to work for a period of time, while your bills pile up and your obligations go unmet. However, disability insurance can help you cover some of these costs and let you focus on healing and recovering instead of worrying about how much debt you will accumulate during your disability.
We Can Help
Don’t put your family’s financial future in jeopardy. We can help. With our assistance, you can compare rates from leading insurance companies in the disability space. You can get quotes from top-ranked companies across the US, and learn more about the options available to protect your income and safeguard your peace of mind.
With us, you can:
- Review rates from some of the leading providers of periodontist disability insurance
- Get quotes from all major insurers in the US that currently offer disability insurance in your specific geographic area.
- Learn more about your options for periodontist disability insurance and how it can benefit you
How much coverage do you need?
The first step to finding out how much coverage you will need is to determine the minimum amount necessary for your living expenses monthly. Afterward, add the other sources of your monthly income without your salary such as an employer’s group disability insurance, your savings, etc.
The coverage of your disability insurance policy should be close to the difference between your monthly expenses and your expected income. It’s the amount that should be replaced by the monthly benefit from your disability insurance.
Periodontist Disability Insurance Policy Details
When you review disability insurance policies, it’s important to understand what medical specialty you are being classified as. The difference in rates can be substantial between the two so it’s important to be classified in the correct category.
Of course, finding the right disability insurance is not as simple as it sounds. You need to make an informed comparison of the insurers available to you, their insurance products, disability definitions, and more. We can help you do that. Our goal is to ensure that you’re able to make the best choice possible when it comes to purchasing disability insurance.
Your Speciality Impacts Your Disability Insurance Rates
Insurance companies group occupations into specific classes based on documented risk for a particular job. These classes look at the hazards of your job and the difficulty returning to work following a long or short-term disability.
Insurance companies typically classify professional occupations on a scale of 1 to 6 and many use the letter M to designate medical professions. Typically, the higher the numerical value of the classification, the lower the premium rate will be.
Buy a Disability Insurance Policy While You’re Young
Disability is not something we regularly think about, especially young professionals. There are more enjoyable things to spend money on and many are reluctant to buy a disability insurance policy. However, we have to be aware that an illness or injury can happen to anyone at any time, so we have to be prepared for it.
If you do buy coverage when you’re starting out in practice, it’s also advisable to get a policy with a future purchase option, also sometimes referred to as a future increase option, a future insurability option, or a benefits update rider.
The Chance of Being Injured
If you think that you’re not at risk of being injured because you’re not in a high-risk industry for injuries, think twice. Disabilities like cancer, heart disease, and other illnesses are actually responsible for most long-term disability cases in both men and women. In fact, if you are age 40 or older, your chances of experiencing a disability prior to age 65 that lasts three months or greater are 21%. That’s just a one in five chance – high odds to be gambling on with your life and your family’s financial stability.
Ready to make a change? Get in touch with us today. Call 1-877-221-6198 to learn more about periodontist disability insurance, the companies that offer it, and your options. We look forward to serving your needs.