Take steps to protect earnings in May

Disability insurance is the most overlooked of the major types of insurance, according to the nonprofit organization Life Happens. A survey by the organization indicates that individuals have a “three in 10 chance of suffering a disabling illness or injury that would keep them out of work for three months or more during their career.”

With this in mind, during Disability Insurance Awareness Month in May, The Dentists Insurance Company (TDIC) encourages dental professionals to take steps to protect their earnings and their practices should unforeseen events occur. Understanding the important role that disability insurance plays in personal financial security is a good place to start.

“What impact would your inability to practice dentistry have on your immediate and long-term financial stability? What impact would it have on your family’s well-being and future?” asks Blair Tomlinson, TDIC sales manager. “That’s what Disability Insurance Awareness Month is all about … stopping to consider these impacts and how to take steps to protect all that you’ve worked for.”

While disability is a prospect that no dentist wants to face, having disability coverage ensures that, in the event it’s needed, a dentist has the freedom to focus on healing without the financial stress.  

“When you look at the long term, dentists’ ability to earn an income is the most valuable asset for them to protect,” Tomlinson says.

TDIC offers policyholders true “own occupation” coverage, which is disability coverage that pays benefits to the policyholder when he or she can no longer perform all the day-to-day duties of his or her current “own” occupation. Benefits are paid even if a dentist can still work but cannot practice dentistry.

In addition to own occupation benefits, dentists should also seek comprehensive coverage that includes the following features:

  • Designed specifically for dentists
  • Non-cancellable
  • Choice of benefit periods and maximum benefits
  • Future increase options

“This May,” Tomlinson urges, “put yourself in a good position should the unexpected happen.”

Call TDIC Insurance Solutions at 800.733.0633 to speak directly with a dedicated agent about disability coverage or visit tdicinsurance.com to learn more. For more information about Disability Insurance Awareness Month, visit lifehappens.org.

TDIC Insurance Solutions markets Disability and Business Overhead Expense insurance as an agent or broker by agreements with partner insurance carriers. Available coverage limits and discounts vary by carrier and are subject to carrier underwriting. The information provided here is an overview of the referenced products and is not intended to be a complete description of all terms, conditions and exclusions. TDIC Insurance Solutions, California License No. 0652783.

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At CDA Presents Anaheim, attendees will have an opportunity to take advantage of several offerings from The Dentists Insurance Company, including a TDIC Risk Management seminar on reducing employment liability. California dentists who attend the seminar will earn 3.0 Category II C.E. units and TDIC policyholders will receive a 5 percent discount* on their TDIC Professional Liability premium for two years.

Relying on memory alone to recount business assets is an exercise in futility. While most dentists have a general idea what they own and how much it’s worth, not all have a thorough, detailed inventory of their office contents. Unfortunately, failing to document all items of value can lead to a shortage of insurance coverage should a loss occur.