What To Know About Pre-Existing Conditions & Disability Income Insurance

As a dentist, you may not think of disability income insurance as an essential insurance policy you will need early on in your career, but even young, healthy people find themselves in a position where they can’t work due to short or longer-term disabilities arising from illness or injury. . 

Whether you’re in training or in practice, disability income insurance may pay you a benefit if an illness or injury forces you to stop working. 

However, there are some key details to know about pre-existing conditions prior to exploring disability income insurance policies. 

How Do Medical  Conditions Affect the Underwriting Process? 

When purchasing a disability income insurance policy, medical underwriting may be  required for qualification. During this process, the insurance company may request information about your medical history, may obtain medical records from your physician, and possibly request that you have an insurance exam. It is important that medical information be accurately disclosed to the insurance provider as a means to determine your eligibility..

What Are Common Medical  Conditions That May Result in Disability? 

 Many people assume that disabilities are often the result of accidents/injuries but other common disabilities include:

• Back pain and musculoskeletal issues. 
• Cardiac conditions.
• Cancer.
• Mental health disorders. 

Your policy coverage may provide a reduced payout or completely exclude any disability caused by medical conditions that existed prior to securing your coverage. Assuming that you accurately disclose your medical history, you will know before accepting you individual disability insurance policy if your policy includes any coverage modifications.

I Have Back Pain or Another Medical  Condition — What Should I Do? 

As mentioned above, medical history must be disclosed during the application process and may be considered during the underwriting process , but you still may be able to obtain coverage, especially if your policy has the option for exclusions or modifications. 

Whether you are looking to buy a new policy, switch providers, or just have questions about coverage options, speak with your insurance advisor to ensure all of your coverage needs are met. 

When Should I Purchase Disability Income Insurance? 

Disability income insurance premiums are often impacted by the age and health of the person who is purchasing coverage. Purchasing your coverage at a younger age may allow you to secure lower premium rates and hopefully before any health history develops that may complicate underwriting. 

As a dental professional , you  are more susceptible to a disability especially when compared to other professionals who may work “desk jobs.”  A seemingly minor health issue may be career ending for a dentist which is why it’s critical that you have the right coverage to protect your income. 

By purchasing disability income insurance early in your career, you can secure potentially lower-cost coverage prior to dealing with any significant health issues. Most importantly, you have coverage in the event an injury or illness prevents you from working.

Why Should I Work With an Advisor Who Specializes in the Dental Industry?

Though you may try to avoid injuries and illnesses throughout your career, unexpected situations still occur, but the right insurance coverage can help protect you and your family from financial hardship due to disability. 

As a dental professional, you will need specific kinds of insurance to protect your livelihood. Nowhere is there a greater need than to protect your ability to earn an income. This is why it’s important  to work with an advisor who has worked with other dental professionals and specializes in the dental space. 

Protect Your Dental Career With the Right Insurance Coverage

Medical conditions are just one aspect that may affect your ability to obtain disability income insurance. You may have additional questions regarding: 

• The total benefits of disability income insurance.
• What riders you may be able to add to your policy. 
• How to get effective disability income insurance coverage. 

To learn more about effectively protecting your dental career, download the Disability Income Insurance for Dentists guide today. 

About Treloar & Heisel

Treloar & Heisel, an EPIC company, is a financial services provider to dental and medical professionals across the country. Our insurance and wealth management divisions assist thousands of clients from residency through retirement. We strive to deliver the highest level of service with custom-tailored advice and a strong national network.