Disability Insurance for Dental Students
Why You Need Disability Insurance
Dental students nearing the completion of their studies need disability insurance to safeguard their financial futures. When you are about to graduate from dental school:
- Your student debt is the highest while your income is the lowest.
- You have a one-in-four chance of becoming disabled before retirement.
- Your federal student loan debt cannot be discharged by filing bankruptcy.
- You will likely take on additional debt to launch your dental career.
MDA Insurance offers a special disability insurance policy for dental students and first-year practicing dentists that includes a rider to reimburse you for student loan payments. For as little as $20 a month, you can buy loan protection that reimburses you for up to $2,000 per month in student loan payments if you become totally disabled. A disability income insurance policy with a minimum benefit of $500 per month must be purchased in order to obtain the student loan protection rider.
Disability income insurance is one of the most overlooked products in the entire insurance business.
Two important factors to consider when purchasing coverage are the policy elimination period and benefit period. Each of these factors will have a direct impact on the cost of coverage.
Elimination periods identify how long after the disability occurs that benefits will begin. The policy we offer lets you choose a 90- or 180-day elimination period. You can choose a benefit period of 10 or 15 years–or to age 45–for the student loan protection rider.
Special Offer: University of Michigan School of Dentistry students receive a 10 percent discount on disability insurance when they apply for coverage within 60 days of graduation!