Choosing Your Disability Insurance

Homes, automobiles, boats, and jewelry. These are all examples of assets we protect with insurance. But do you know what your most important asset is? YOU! Your ability to get up and go earn an income every day is paramount in terms of importance, and it is critical you protect that. 

The vehicle in which you protect your income is through a Long-Term Disability Insurance Policy. Given the specialty of your occupation and duties that come with it, selecting the right coverage is essential. 

Identifying the right type of coverage can be daunting, so to help, I’ve highlighted 10 questions below that the best policy will all have “YES” answers to!

DISABILITY INSURANCE CHECKLIST

1. Insurer’s Financials - “COMDEX “score, 95 or higher?
2. Is this an Individual policy (not a Group/Group Trust policy)?
3. Non-Cancellable AND Guaranteed Renewable?
4. Is there an ENHANCED Definition of Total Disability for Dental Professionals?
5. Is there an ENHANCED Partial Disability Benefit (no loss of time/duties required and an enhanced payout in the first 12 months)?
6. NO Mental/Nervous Limitation?
7. Are policy Increase Options available for the full amount (as income grows)?
8. Is there Cost of Living Adjustment coverage?
9. Is there an increased payout, in the first 10 or 15 years of the policy, that can be used for whatever purpose, not just for student loans?
10. Can the policy be written with reduced premiums during school/residency?

THE BEST POLICY WILL HAVE “YES” ANSWERS TO ALL QUESTIONS