Life Insurance for Dentists
Compare a range of life insurance policies designed for dentists through Savvy today.
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As a dentist, you understand the importance of maintaining good health and taking steps to protect your future. Life insurance can provide financial security for your loved ones in the event of unexpected illness, injury or death. It can help cover expenses such as mortgages, education costs and living expenses, giving your family peace of mind during a difficult time.
If you’re a dentist or medical professional looking for cover, you can compare a range of policies through Savvy. Our panel of insurers offers competitive policies to help you find the coverage which best suits your needs. You can compare policies based on cost, coverage, benefits and more and get a free, no-obligation quote through us today.
What are my life insurance options as a dentist?
You have a range of life insurance choices as a dentist in Australia. These are:
- Life cover: often referred to as term life insurance, this kind of policy offers protection until a set age, such as 85, or for a predetermined period (typically ten to 30 years). Your covered amount is distributed as a lump payment to the people you have designated as beneficiaries in the event of your death or terminal illness diagnosis (provided you satisfy your insurer’s terms and conditions).
- Income protection insurance: this kind of policy can offer coverage if an illness or injury renders you temporarily unable to work. Over a period of up to five years or until you age 65, you may be able to receive a monthly benefit equal to up to 70% of your income (subject to your policy’s qualification criteria).
- Total and permanent disability (TPD) insurance: this can offer coverage if you become permanently unable to work due to a disability. Depending on the policy, TPD coverage may take the form of Own Occupation or Any Occupation insurance. If you are unable to resume your prior work as a specialised dentist but still intend to work as a medical professional, Own Occupation coverage may allow you to earn a settlement.
- Trauma insurance: this type of insurance can provide coverage for a variety of major illnesses and accidents, including cancer, heart attack and longer-term diseases such as dementia. The maximum amount of cover you may be able to purchase is often capped at $2 million.
Although all eligible buyers can purchase these policies, some insurance providers may offer coverage specifically for medical professionals such as dentists in the form of coverage for infectious or bloodborne diseases. For instance, if you contract a covered infectious disease (such as HIV or Hepatitis B) while working and are subsequently rendered permanently unable to perform your job duties, this may be able to offer a payout.
To choose the coverage that most closely matches your unique needs as a dentist, it's crucial to carefully consider a range of life insurance policies. With Savvy, you’ll be able to compare several deals in one place before you buy. Simply complete an online form to begin the process with us today.
Why is life insurance important for dentists to consider?
Medical professionals such as doctors and dentists are exposed to a wide range of risks in their day-to-day working lives. Exposure to bloodborne diseases such as HIV and hepatitis B is a significant risk for dentists, who are required to handle sharp instruments and work in close proximity to patients’ blood and bodily fluids. Additionally, dentists may be exposed to harmful chemicals and radiation, which can increase the risk of cancer and other serious illnesses.
Dentists are also at risk of developing hearing loss due to the loud noise levels from dental equipment and tools. Repeated exposure to loud noise can damage the sensitive hair cells in the inner ear, leading to permanent hearing loss. Moreover, dermatitis is another risk faced by dentists who come into contact with various irritants and allergens present in dental materials and cleaning products, as well as latex gloves.
Given these risks, having life insurance can be crucial for dentists to protect themselves and their loved ones financially in the event of an unforeseen accident, illness or injury which is covered by their policy. With the right coverage, dentists can have greater peace of mind knowing that they and their families can be financially secure in case of an unexpected event.
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Disclaimer:
Savvy is partnered with Compare Club Australia Pty Ltd (AFS representative number 001279036) of Alternative Media Pty Ltd (AFS License number 486326) to provide readers with a variety of life insurance policies to compare. Savvy earns a commission from Compare Club each time a customer buys a life insurance policy via our website. We don’t arrange for products to be purchased from these brands directly, as all purchases are conducted via Compare Club.
Savvy does not compare all life insurance policies or providers currently operating in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy.
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