Dental Students – InsMed Insurance Agency

Dental

Students

The career track of many dental professionals often presents risks far beyond protecting personal income. It’s important for students to identify those issues that threaten the financial well-being of a practice owner, as well as understand the scope of protection provided by smaller practices.

How InsMed Helps Dental Students

Graduating dental students starting their own practices or joining a small group need to consider more than just insuring their incomes in the event of a disability. As an entrepreneur, it’s important to make sure you’ve made sure you can continue to cover the expenses that keeps your doors open to cover the expenses that keeps your doors open, allowing you to retain your staff and buy-out the shares of any disabled partner.

How InsMed Supports the Plan your Institution Chose

If you are one of the thousands of residents and fellows training at institutions where InsMed created a “guaranteed issue” offering, you have a unique opportunity to protect your current and future income without having to take any medical exams, answering medical questions or being denied coverage due to a medical condition. Through these offerings you can increase your coverage during training to replace 100% of your income and guarantee the right to dramatically increase your protection after graduation to properly insure your new income.

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Dental

Students

How InsMed Helps Dental Students

How InsMed Supports the Plan your Institution Chose

Did you know?

Voluntary offerings to large healthcare populations can be offered without medical underwriting and permanently discounted rates.

Group long term disability policies can be obtained by practices with fewer than 10 full time employees

Most employer provided long term disability coverage will require you to be out for as long as six consecutive months in order to qualify for benefits

Residents and fellows can forfeit their right to a teaching hospital’s “guaranteed issue” coverage if they apply elsewhere and are denied due to medical conditions

Group insurance policies usually only protect base salary

If your employer provides you with long term disability coverage for free, any benefit amount provided during a claim will be taxed.

The “guaranteed right” to increase the benefit amount of an individual policy will be reduced as you age.

Rates and provisions of individual policies are guaranteed not to change until the age of 65. The same isn’t true for group or association coverage.

Residents and fellows can insure 100% or more of their incomes during training

Graduating physician who are entering practice can obtain coverage that’s greater than their actual earnings

The premiums paid by a practice owner for a policy that insures their ongoing business expenses is 100% tax deductible

Individual policies can be used to raise the income placement percentage and maximum monthly benefit for employed physicians and executives

Medical underwriting can be waived when a practice purchases individual policies as part of its benefit package

Business overhead expense policies can cover hiring a locum tenens

Some policies that insure student loan obligations require the insured to be out completely and not be expected to return to work ………ever.

Contributions cannot be made into a qualified retirement account in the event of a disability

Taking medication or seeking counseling to manage stress can affect your ability to secure coverage

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