Dental Office Staff:
How Much Personal Insurance Do I Need?

As a dental professional, you need to make sure your life, accident and disability coverages offer the best protection possible. Knowing how much coverage to have is an important step in your planning process. If you have any questions regarding what level of personal insurance coverage is right for you, please call us.

Dental Office Staff Insurance:

The amount of insurance you need will depend on your circumstances. Remember that Dental Office Staff Insurance is actually three coverages in one convenient and affordable package:

Your Life Insurance coverage should be enough to maintain your family’s standard of living in the event of your death, until any children are grown and self-supporting. Factor in costs such as child care and education, mortgage payments and other debts, and funeral expenses.

To estimate how much Life Insurance and Family Life Insurance you may need, click here to use our Life Insurance Calculator and here to use our Family Life Insurance Calculator.

Long Term Disability Insurance helps replace your after-tax income if you become disabled and unable to work. You may apply for up to the maximum amount of coverage available, less any amount of disability coverage you have with another plan.

Your Accidental Death and Dismemberment Insurance helps you deal with the financial consequences of a severe injury that results in permanent and total "loss of use". When you consider that the cost of coping with a serious injury (for example, the cost of retrofitting your home for wheelchair use) could easily run into the hundreds of thousands of dollars, it makes sense to select the maximum coverage possible. The economical premiums for this coverage make doing this very easy.

Critical Illness Insurance:

Since the benefit from Critical Illness Insurance is so flexible, it can be used to pay for many different things, such as the cost of medical care outside Canada that you may have to wait for in Canada or that isn’t available here, the cost of the travel arrangements and accommodations for a loved one who may be accompanying you, the costs of prescription drugs, private nursing, meal preparation, and child care while you are in hospital and are recovering. You should consider all of these factors when planning the amount of your coverage.

To estimate how much Critical Illness Insurance you may need, click here to use our Critical Illness Insurance Calculator.

Travel Insurance:

Under the Canadian Dentists’ Insurance Program, to find what type of travel insurance you’ll need, simply determine how many days your longest trip out of your province will be during the coming 12 months, then select the 30, 60, or 90-day period that covers your longest trip. (You should also consider whether you’ll need single or family coverage or whether you’ll need the Travel Edge Plus Insurance, which includes Flight Accident and Baggage Loss coverages.)

If your longest trip is more than 30 days but well under 60 days, you may save money by choosing the 30-day coverage and then purchasing extended coverage for the extra days. (Of course the same applies if your longest trip is longer than 60 days but less than 90 days.) Contact a CDSPI Advisory Services advisor for the extended coverage rate and for advice on which option makes better sense for you.

Dental Office Staff

How Much Liability and Legal Insurance Do I Need?