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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?!”
And then we go through an exercise where I ask students to name their most valuable belongings. Eventually someone lands on it… “I may not have much cash…but I do have my health.” and bingo! Indeed your health, and hence your ability to generate an income while you are healthy is your most precious asset.
If you’re like most young people, you may take your health for granted. Especially in dentistry it is critical that you take the very best care of yourself. The truth is, that without you there is no practice, without your ability to go to work every day, there is no income stream. Sadly, I know way too many dentists who have lost everything to a disability they couldn’t possibly have foreseen. Whether through illness or accident, we are all a step away from losing our ability to generate an income.
So when students ask me what is the smartest thing they can do with their money, I tell them to protect their ability to generate an income through the purchase of a disability income insurance policy. Insurance is most affordable you’re young and becomes increasingly expensive as you age. Also, some companies offer special discounts to students, so it may be wise to get this insurance while you’re still in school.
When you’re feeling broke these days, think again. If you have your health, you are in fact pretty wealthy, and there is no better time than today to protect that wealth.
~Christian Pearson, National Director of Dental Partnerships, Treloar & Heisel