Disability Insurance for Dental Anesthesiologists: Costs and Benefits

Dentist anesthesiologists (DA) provide pain and anxiety control for patients of all ages in dental office and hospital settings. This knowledge takes years of training, including earning your DDS or DMD and a three-year dental anesthesiology residency. With so many years and hundreds of thousands of dollars of student loans put toward your career, it makes sense to carry disability insurance that explicitly protects your dental anesthesiologist income.

Here’s what you need to know about buying disability insurance for dental anesthesiologists.

How much does disability insurance cost for dental anesthesiologists?

Disability insurance companies determine your monthly premiums using historical claims data based on numerous individual factors. For example, your age, gender, occupation, and medical history greatly affect how much you’ll ultimately pay for disability coverage.

That said, you can generally expect to spend anywhere from 2% to 4% of your income for sufficient disability insurance.

Here are some sample quotes to better understand how much disability insurance for dental anesthesiologists might cost.

Company	Male	Female
Guardian	$244	$356
MassMutual	$195	$303
Principal	$168	$302
Ameritas	$202	$292
Standard	$201	$320

Related: Ameritas Disability Insurance Review

Why do dental anesthesiologists buy disability insurance?

Long-term disability (LTD) insurance serves as an income replacement after an unexpected injury or illness. It can pay the bills and support your family during an uncertain time, whether for a few years while you recover or until your 60s or 70s (depending on your benefit period).

The Social Security Administration estimates that one in four workers in their 20s will experience a disability before retirement. As someone with specialized training, you want to minimize the risk of losing your dental anesthesiologist income throughout your career with the right disability insurance policy.

Enter your information below for a custom quote, and our team will reach out with the next steps. Otherwise, you can keep reading to learn more about disability insurance for dental anesthesiologists.

What should disability insurance for dental anesthesiologists cover?

When it comes to disability insurance, you’ll have many policy options to consider. It’s important to understand the basics of disability insurance to ensure that you have adequate coverage.

First and foremost, you want to look for a policy that has a true own-occupation definition of disability. This will provide the most protection for your dental anesthesiologist income.

With an own-occupation policy, you can file a disability claim if your injury or illness prevents you from carrying out the “substantial duties” of being a dental anesthesiologist. Even better, you can continue working in another dentistry field or profession without jeopardizing your disability benefits.

However, this isn’t the case for a standard any-occupation policy. This type of policy makes it much harder to file a claim, because you’ll need to be totally disabled and unable to work in any capacity.

Beyond the definition of disability, you’ll need to consider optional disability policy riders, such as a future increase option, residual disability benefits, cost-of-living adjustment (COLA) and more. These policy riders allow you to customize your coverage further to meet your financial needs and risk tolerance. 

How often do dental anesthesiologists file disability insurance claims?

Because dental anesthesiology is an invasive specialty, insurance companies consider your profession high risk. This means that based on historical claims data, dental anesthesiologists and other invasive medical and dental specialties are more likely to file a disability claim.

Therefore, you’ll likely pay higher disability premiums than a general dentist. However, you’re more likely to use the coverage you’re paying for, so it’s a trade-off that can be well worth the cost.

What kind of disability coverage is available to dental anesthesiologists?

Dental anesthesiologists can find long-term disability insurance from a variety of sources.

Employer-provided disability coverage

Employers often provide no-cost disability coverage, which is a great perk; however, it can have significant limitations, such as a capped monthly benefit amount that falls short of what you need. Additionally, this type of group policy coverage usually isn’t specialty-specific.

Disability coverage through a professional association

Many professional associations provide discounted insurance opportunities as part of their membership benefits. For example, American Dental Association (ADA) members can access own-occupation coverage at a discount. However, premiums increase every five years based on age. Additionally, discounts aren’t guaranteed throughout the life of the policy.

Individually purchased disability policy for dental anesthesiologists

An individual disability policy will provide the most flexible coverage, allowing you to protect your specialty income and choose policy riders that make sense for you. It’s best to work with an independent insurance broker who’ll search the “Big 5” rather than an agent who earns a commission from selling with one company.

Guaranteed standard issue (GSI) policies with your residency

Depending on your residency or fellowship program, you might have access to a GSI policy. For example, GSI options are available to dental anesthesiology residents at Stony Brook University Hospital and Ohio State University Wexner Medical Center.

This type of policy provides guaranteed coverage without medical underwriting, which can be beneficial if you have a pre-existing medical condition.

How much disability income insurance do dental anesthesiologists need?

You can usually buy LTD insurance for up to 60% of your gross income. However, this percentage can vary based on the insurance company and your existing coverage.

Let’s say you earn the average dental anesthesiologist income of about $250,000 annually. You could choose coverage that provides up to $12,500 per month in disability income. This payout will be completely tax-free as long as you’re responsible for paying your premiums (and not your employer).

Now, depending on your financial situation, you might not need the maximum benefit. For example, if your spouse works in a high-income profession, you might get by with less coverage since you’ll have their pay to rely on.

To figure out how much disability insurance you need, you’ll want to consider your fixed expenses (e.g., mortgage, cars, childcare, healthcare, etc.), other sources of income, and potential lifestyle changes that might come with a long-term injury or illness.

Other considerations when buying disability insurance for dental anesthesiologists

When looking for own-occupation disability insurance coverage, you’ll need to be aware of these other outside factors:

• A pre-existing condition could limit your eligibility for a disability policy. In this case, a GSI policy might be your best bet. But an experienced insurance broker can weigh your options before applying for disability coverage elsewhere.
• Disability insurance premiums can greatly vary by gender. Female dental anesthesiologists will typically have higher premiums than their male colleagues. However, the right broker can access unisex pricing and discounts to reduce your monthly costs.
• Disability insurance isn’t one-size-fits-all. You might benefit from a supplemental individual policy that provides additional coverage or a stronger definition of disability.

When it comes to disability insurance, the insurance broker you use absolutely matters. You want to work with someone who will look at all coverage options to find the best coverage at the most affordable rate. That often means comparing GSI opportunities with individual disability insurance policy discounts to find the right fit.

Get a quote for disability insurance for dental anesthesiologists

SLP Insurance works with all dental specialties to find true own-occupation coverage that is both affordable and comprehensive. We’ll look for the top discounts for your situation and guide you through various policy decisions.

Complete the form below, and we’ll get started on your custom quote for own-occupation disability insurance.