Working with dental students across the nation we get a wide variety of questions regarding disability insurance. The most common question is: “What is underwriting?”
Treloar & Heisel
A business owner policy, frequently abbreviated to “BOP,” is an insurance policy that typically covers you for events ranging from fire, to theft, or a general liability claim against your office.
As the population changes, businesses respond to the needs of their various markets. The insurance industry is no different. At Treloar & Heisel, we work with many large national companies that offer insurance products. Our job is to keep a pulse on the market, assess what’s available and evaluate best fit for our clients on a case-by-case basis. One of the companies that has recently made changes to its disability income product is MassMutual. What’s changed, and why should you care? Read on!
Once you understand how important it is to put disability income insurance in place early on in your career, the next question is how to obtain it.
Most people who transition from training to practice experience a sudden surge in income. With that, frequently comes the desire to make up for years of living a student lifestyle, coupled with an objective to ‘get rid of mountains of debt’ that has accrued over the years.
Dental students and residents frequently ask me for help when they are about to graduate. Here are some tips I hope you’ll find helpful:
In your final year of dental school or residency you should acquire disability income insurance. As a dental professional your ability to create an income is completely dependent on your ability to work. Make sure to lock in career-long discounts while you are still young and healthy and insurable.
When I meet dental students, as I regularly do in my travels to schools, I always make a point of asking: “What’s your most valuable asset?” The response is typically a glare that translates to: “Are you kidding me? Do you have any idea how much it costs to be here?!”