Surgeons Disability Insurance: Guide for Oral and Maxillofacial Surgeons

Becoming an oral and maxillofacial surgeon requires years of education, including medical school, and the potential for more years as a resident or fellow. As a result, there’s a good chance you’ll have student loans and other obligations to pay for when you finish.

If you’re worried about what happens if you become permanently injured and can’t work, disability insurance can help you replace a percentage of your income.

Here’s what to know about oral and maxillofacial surgeon disability insurance, including tips for getting a quote that offers a monthly benefit amount designed to meet your needs.

Oral and maxillofacial surgeon disability insurance premium cost

Consider spending between 2% and 4% of your income as an oral and maxillofacial surgeon on disability insurance premiums. In general, your premium is based on a few factors:

• Age. Younger oral and maxillofacial surgeons generally pay lower premiums than older practitioners. Additionally, younger people might have the eligibility for lower-cost GSI policies.
• Health and pre-existing conditions. Those with specific medical conditions are sometimes considered at greater risk for disability, resulting in higher premiums.
• Medical specialty. Oral and maxillofacial surgeons have a rating classification that can translate to higher premiums.

Below are some prospective rates for residents and fellows.

Company	Male	Female
Guardian	$203	$297
MassMutual	$175	$273
Principal	$192	$345
Ameritas	$206	$299
Standard	$200	$320

SLP Insurance recommends the best policy, regardless of commission. Receive a disability insurance quote by filling out the form below. One of our partner agents will reach out with your top options.

Why do oral and maxillofacial surgeons buy disability insurance?

In May 2021, the Bureau of Labor Statistics reported that the average salary of oral and maxillofacial surgeons was $311,460. Many of these surgeons work in dentist offices, surgical hospitals and outpatient care centers. Salary.com reports the average salary range for oral and maxillofacial surgeons between $273,568 and $421,419 as of December 2022. That’s a lot of money, and disability insurance benefits become important if you can’t work.

If you think becoming ill or injured is unlikely, think again. According to the Social Security Administration, 25% of people who are currently 20 years old will experience some type of disability during their lifetimes. Although Social Security Disability Insurance (SSDI) is available, the benefits probably aren’t enough for someone who makes the salary of an oral and maxillofacial surgeon.

Instead, disability insurance for physicians provides a way to receive disability income more in line with your financial obligations. Most policies cover you until you’re 65 years old. Some policies allow benefits for partial disability. An insurance agent or broker can help you review your options. They can help you understand underwriting requirements, waiting periods, limits and exclusions.

SLP Insurance can help you find true-own occupation disability insurance for oral and maxillofacial surgeons. We’ll find the best policy for your situation, including the necessary riders. Fill out the short form below to get your quote.

Related: How Much Disability Insurance for Cosmetic Dentists Costs and Where to Buy It

What should oral and maxillofacial surgeons disability insurance cover?

Different disability insurance companies offer various choices that can be put in place. Compare options and consider working with a broker.

As you consider disability insurance and how the policy benefits fit into your financial plan, here are a few things to keep in mind:

• Own-occupation policy. Own-occupation coverage lets you receive disability benefits when you can’t complete the specific duties of your job as an oral and maxillofacial surgeon, even if you can perform other types of work.
• Partial disability. Receive some type of benefit payout, even if you don’t experience total disability. You might also look for residual disability, which can provide ongoing benefits if your disability lingers.
• Cost-of-living-adjustment (COLA) rider. Many medical students, fellows and residents start with lower benefits. After you finish, you might be a higher earner and need better protection due to your cost of living. Some disability insurance plan providers allow you to upgrade to more coverage through a COLA adjustment.

When looking at insurance products, don’t forget to consider the plan’s benefit period and waiting period. Short-term disability insurance and long-term disability insurance come with different disclaimers and requirements, so speaking with a knowledgeable insurance broker can help you navigate the system.

How often do oral and maxillofacial surgeons file disability claims?

Insurance companies rate oral and maxillofacial surgery among those with a riskier rating classification. Rating classifications are based on historical claims data and other information. 

The rate classification assigned to oral and maxillofacial surgeons means a long-term disability policy will likely be higher than other medical specialties will see. Be aware of that as you consider your purchase options.

What kind of disability insurance coverage is offered to oral and maxillofacial surgeons?

When shopping around, consider different sources of oral and maxillofacial surgeons disability insurance.

Employer coverage

Many hospitals, dentists, outpatient facilities and other employers offer disability insurance to oral and maxillofacial surgeons. However, there are usually limits on benefit payouts. With a group policy, your benefit might not be large enough to cover your costs. Plus, the IRS expects you to pay income taxes on payouts you receive as a result of employer coverage.

Professional association

Any medical specialty, including oral and maxillofacial surgeons, can join the American Medical Association and access special group coverage purchase options. It’s also possible to join the American Association of Oral and Maxillofacial Surgeons (AAOMS) and check the types of discounts they offer on various insurance products, including life insurance and disability insurance.

Individually purchased policy

You can also purchase individual disability insurance through a marketplace or find a health insurance plan with a disability rider. A good insurance agent or broker can help you evaluate policies and find a renewable policy that matches your needs. Generally, individual policies offer more options and higher limits than you’d see with group plans.

Guaranteed Standard Issue

Medical residents and fellows in oral and maxillofacial surgery might have access to Guaranteed Standard Issue (GSI) policies. For the most part, these policies are uniform and not specialty-specific. They also sometimes come with standard discounts based on where you’re completing your residency or fellowship.

Attending physicians usually can’t access GSI policies. As a resident or fellow, you could access policies at places like:

• Children’s National in Washington, DC
• NYU Health System
• Oregon Health & Science

If you want one of these policies, you might have to specifically ask a broker or agent. They might not earn a commission when selling this type of policy, so they don’t always mention this discounted option.

How much disability insurance do oral and maxillofacial surgeons need?

It’s common for medical professionals to receive a benefit of up to 60% of their income as a benefit as part of disability insurance for physicians. Let’s say you earn $350,000 a year as an oral and maxillofacial surgeon. Let’s take a look at what you should consider.

Oral and maxillofacial surgeon disability payout amount

Begin by considering how much you’ll receive. For someone making $350,000 a year, 60% works out to about $17,500 monthly.

However, you might not need the full 60% of your salary to cover your housing, insurance, loan payments and other costs. If you can manage with less, you can get a smaller premium. Another consideration is how many earners are in your household. A single-income household might need more coverage since they don't have another income source to fall back on.

Why you need to review your oral and maxillofacial surgeon disability insurance policy

Before committing to an insurance policy, make sure you understand the fine print. Here are a few things to double-check before moving forward:

• True own-occupation definition. The own-occupation definition of disability isn’t always the same at each company. In fact, some companies make the definition of disability favorable to them.
• Waiting period. Know how long you must wait until your disability benefits start.
• Pre-existing medical conditions. Your health status or the definition of a pre-existing medical condition can impact your eligibility, benefits and premium.
• Agent commission. Be aware of commissions. Some dedicated agents get a bigger commission for steering you toward specific policies. Brokers also receive commissions, so know how they get paid.
• Partial benefits and residual benefits. Know whether you can get some benefits based on partial or residual disability.
• Disability benefit limits. Don’t assume group coverage is enough. Double-check the limits on your individual disability policy as well. When auditing a physician policy with a monthly limit of $5,000, we found it wasn’t enough to cover the policyholder’s $8,000 housing costs.

Get a disability insurance quote for oral and maxillofacial surgeons

SLP Insurance and its partner agents specialize in getting oral and maxillofacial surgeons true-own occupation disability insurance coverage. We gather customized quotes with only the coverage you need, and have numerous discounts. 

Get a quote through the form below, and our team will reach out!