Working skillfully with your hands, treating patients autonomously, and the ability to produce financial independence are all key ingredients to a rewarding, yet potentially risky career path. Despite having invested many years in school, and in some cases, hundreds of thousands of dollars in tuition to become an effective clinician, we find few dentists truly prepared to manage their business and financial concerns.
A dentist’s lack of clarity and knowledge in this domain often leads to a codependent relationship between the dentist and his or her practice. This is in direct conflict with the ultimate ambition of every dentist we meet – financial freedom and independence.
Building a strong financial foundation and a trajectory for success must begin with protecting that which you have worked so hard to produce - your income. Income protection is not as simple as insuring one’s life, where you are either alive or dead. A without a well designed Disability Insurance strategy, a long-term sickness or injury could cost you not only your income, but also your savings and assets. Making the right decisions can be critical to ensuring your long-term objectives are fulfilled.
Do you have any of these questions?
- What if I can’t afford disability insurance? Are there special programs available to help bring down premiums in the short term? What are “Graded” or “Step Rate” premiums?
- Do I need “Own Occupation” protection?
- Do I need “Future Increase Options”? How do they work?
- How much disability insurance can I qualify for? Are there special programs for new dental professionals with limited income history?
- How do I protect my business partner, the practice, and myself if one of us were to become disabled?
- How do I protect my exposure to Overhead costs?
- How do “Cost of Living” increases work? Do I need them?
- I am close to retirement but still need income protection. What are my options and the best ways to design it at this point?
At eDisability Quotes, our advisors are specialists in your field. They can address your specific needs and get you the best income protection possible. Their knowledge and professional experience will serve as an asset that will positively affect your business and personal balance sheets for years to come.
Our advisors are available to answer any questions you have free of charge or obligation.
