There are many reasons why Australian Dentists hold various types of life insurance cover. These include the need to replace lost income if the Dentist is unable to work because of sickness or injury, and the need to repay debt in the event of death. The future income to be earned by many Dentists may be their largest financial asset, so protecting that asset could be a crucial consideration in any financial plan.
Life Insurance is offered by Life Insurers and may include Income Protection Insurance and other coverage types such as Trauma Insurance (also known as critical illness insurance) and Total and Permanent Disability Insurance. Public offer superannuation funds, if applicable, may give some Dentists a small amount of life insurance cover, but it is often not adequate to meet their specific personal needs.
Business Expenses Disability Cover is another important consideration for those who own small Dental Practices. This is a type of Income Protection cover that will pay fixed ongoing business expenses if an owner is sick or injured and meets the conditions to claim under the policy. This cover supplements – and does not replace – Income Protection insurance.
Experien Insurance Services arranges insurance cover for thousands of dentists as a broker across Australia – from a range of Life Insurers.
We have extensive experience in all aspects of the cover, including claims management.
Dentists may be interested to see information of past claims we have arranged for other insured Dentists in the past. An extensive list is show by clicking the link below, with certain details shown for each claim.
Life Insurance And Disability Insurance Claims Dentists Nov 2024
Income protection insurance claims, when measured by the number of claims, make up the most claims. You will note many claims are because of injuries, cancer and mental illness.
Claims under Death cover and Total and Permanent Disability (TPD) are often large, and on average are higher than claims of other types.
Trauma insurance (also known as critical illness insurance) make up about 20% of the claims by value.
You should always read the PDS (Product Disclosure Statement) before taking out cover with an insurer. The information in this note is general in nature and it doesn’t take into account your own specific needs, goals or circumstances. Feel free to contact Experien Insurance Services via the link below to get a complimentary review that takes into account you own specific circumstances.
At the time of writing, Life insurance and Financial Advice services are provided by Experien Insurance Services Pty Ltd (EIS) ABN 99 128 678 937 and Experien Financial Services Pty Ltd (EFS) ABN 32 631 346 757. EIS and EFS are not insurers and are Corporate Authorised Representatives (No. 320626 and No. 1274354) Count Financial Limited ABN 19 001 974 625, AFSL 227232.
