Disability Insurance for Pediatric Dentists: Costs and Coverage Options

The average pediatric dentist graduates with a quarter-million-dollars in dental school debt. They also spend two to three additional years in a pediatric dentistry residency or fellowship to better serve infants, children and teenagers.

With so much invested in your career, it’s vital to protect your future earnings with disability insurance specific to your dental specialty.

But what does an adequate disability look like, and how much does it cost? Let’s dive into the details of disability insurance for pediatric dentists.

General costs for disability insurance for pediatric dentists

Long-term disability (LTD) insurance premiums will vary depending on the type of coverage. For the strongest income protection, look for an own-occupation policy that covers your pediatric dentistry specialty.

Own-occupation coverage can be more expensive than other disability policy options. This is because it provides more comprehensive coverage that allows you to file a disability claim if you can’t perform the “substantial duties” of being a pediatric dentist versus being unable to work entirely.

Additionally, other individual risk factors impact the cost of disability insurance, such as your age, gender, medical history and more. For example, women usually pay more for coverage than their male colleagues. Additionally, the older you are when buying a disability policy, the higher your premiums will be.

That said, you can generally expect to pay anywhere from 2% to 4% of your income for own-occupation coverage.

Here are some quotes for own-occupation coverage for male and female pediatric dentistry residents.

Company	Male	Female
Guardian	$204	$297
MassMutual	$175	$273
Principal	$225	$400
Ameritas	$165	$321
Standard	$241	$383

Why do pediatric dentists buy disability insurance?

Pediatric dentists work with patients who require gentler care due to their young age or other special needs. This specialized path often requires hundreds of thousands of dollars of pediatric dentist student loans, as well as a two-year residency program under the American Association of Pediatric Dentistry (AAPD).

As one of the top high-paying dental specialties, disability insurance for pediatric dentists should be a financial priority.

The Social Security Administration (SSA) estimates that one in four Americans in their 20s will become disabled before retirement. Those are pretty scary odds, especially since that statistic is based on meeting the traditional definition of disability.

Now, consider how many unfortunate scenarios could affect your ability to work as a pediatric dentist. For example, a traumatic accident, such as a car wreck, could limit using your hands for oral care procedures. Many illnesses and medical conditions can also impact your cognitive or physical functions.

Disability insurance for pediatric dentists protects against these unknowns, allowing you to choose a policy that matches your risk tolerance and budget.

Fill out the form below to receive a custom own-occupation disability quote. Or keep reading to learn more about disability insurance for pediatric dentists.

What should disability insurance for pediatric dentists cover?

Pediatric dentists should look for a true own-occupation policy that covers their dental specialty duties. With own-occupation coverage, disability insurance benefits will depend on your ability to work as a pediatric dentist. Because of this special provision, you can continue working in another dental field or a different occupation entirely while collecting disability benefits.

Beyond that, you’ll want to consider other disability insurance riders that can enhance your coverage.

For example, a future increase option rider can benefit residents and early-career pediatric dentists who haven’t reached their full earning potential. This optional rider allows you to buy additional coverage as your salary increases without undergoing another medical exam.

Other common riders include partial disability or residual disability benefits, a cost-of-living adjustment (COLA) and catastrophic benefits for a severe disability.

Although these optional policy provisions can provide more comprehensive coverage, they’ll also increase your policy premiums. Consequently, you should consider each option based on what you need and how much risk you're willing to take.

How often do pediatric dentists file disability insurance claims?

When looking at pediatric dentistry as a whole, disability insurance companies generally view the specialty as moderate-risk. This classification is based on historical claims data — the same as when they consider age, gender and other group identifiers.

However, some insurance carriers might rate the profession at a higher risk of filing a disability claim, which could result in higher premiums.

What types of disability insurance are available to pediatric dentists?

Pediatric dentists might have access to disability insurance through their group practice or a professional association. However, most private dental practice owners can benefit from an individual disability insurance policy that offers flexible coverage.

Group disability plan

Depending on your employment, you might have group coverage through your group practice or employer (e.g., hospital or community health center). If so, it might only be short-term disability insurance or a long-term policy with limitations.

For example, group LTD insurance usually has a narrow definition of disability and often comes with capped monthly benefits (e.g., $5,000 to $10,000). Considering your income and lifestyle, this likely won’t be enough coverage.

Disability coverage with a professional association

Discounted disability insurance plans are available for members of the American Dental Association (ADA) or the AAPD. However, these group policies aren’t always the most affordable route. Plus, your member discounts and rates aren't necessarily locked in for the life of your policy, so your premiums might change over time. 

Individual disability insurance policy

If you own a private practice or don’t have adequate coverage through an existing policy, an individual disability policy can be a great option. It offers flexible coverage options and strong definitions of disability. You can also take advantage of various premium discounts if you work with a knowledgeable insurance broker.

How much disability insurance do pediatric dentists need?

It’s common for disability insurance companies to offer coverage for up to 60% of your gross income.

So, let’s say you make $200,000 as a pediatric dentist and don’t have existing coverage. With a 60% benefit payout, you could receive up to $10,000 per month for your chosen benefit period.

But you might not need or want that much coverage if you have a high-earning spouse or other sources of income, such as rental properties or a lucrative dental side hustle. In this case, you could choose a smaller benefit amount to reduce your monthly premiums.

Why you need to review and compare pediatric dentist disability insurance policies

Disability insurance policies aren’t a one-size-fits-all financial product. So, there are many variations of disability insurance coverage with different exclusions, disclaimers and policy details. When buying disability insurance, carefully consider and compare the following:

• Definition of disability. We recommend choosing a true-own occupation definition to receive the strongest income protection.
• Benefit period. Options can range from a two-year benefit period to a policy that pays out until traditional retirement age or longer. The longer the benefit period, the more you’ll pay for coverage.
• Waiting period. Also called an elimination period, this policy decision details how long it’ll take to receive benefits once you have a qualifying disability. Options usually range from one month up to one year.
• Premium discounts. Many insurance carriers offer uni-sex pricing or other discounts to help lower the cost of disability insurance. But you’ll need to work with an experienced insurance broker to tap into these exclusive discounts.

Get a disability insurance quote for pediatric dentists

Disability insurance is a crucial investment for pediatric dentists to protect future earnings and safeguard against the unknowns that could impact their ability to work.

SLP Insurance works with pediatric dentists and other dental professionals to find true own-occupation coverage with the best discounts. Simply fill out the form below to get started.