Disability Insurance for Prosthodontists: Benefits, Costs and Strategies

Prosthodontists complete a three-year residency after earning an expensive DDS or DMD dental degree. Some then tack on an additional fellowship to further specialize in prosthodontics. We’re talking about 11+ years of education and training to secure a six-figure prosthodontist salary once you account for a bachelor’s degree.

Yet, many prosthodontists risk their financial future by not carrying adequate disability insurance.

Don’t let the perceived cost of disability insurance or the idea that you’re invincible stop you from protecting your dental specialty income. Keep reading to learn why you might need disability insurance for prosthodontists and how much to budget for.

How much is disability insurance for prosthodontists?

The general rule of thumb for long-term disability insurance is that it’ll cost you around 2% to 4% of your income to buy specialty-specific coverage. However, your costs will depend on your occupation, age, gender, health history, lifestyle choices and other factors.

Here are sample quotes for female and male prosthodontic residents for own-occupation coverage.

Prosthodontists own-occupation disability insurance monthly cost
(Age 34, resident/fellow)

Company	Male	Female
Guardian	$204	$297
MassMutual	$175	$273
Principal	$225	$400
Ameritas	$165	$231
Standard	$201	$320

Why should prosthodontists buy disability insurance?

As a prosthodontist, you’re trained in simple treatments and complex surgical procedures pertaining to the function of the mouth. You’ve earned the prestige of being a prosthodontist through many years of dental school and residency — maybe you’ve even gone the fellowship route. So, why hesitate to protect your time, monetary investment and future income with disability insurance?

The Social Security Administration (SSA) estimates that about one-quarter of Americans in their 20s will become disabled before retirement. That’s a serious statistic considering how hard it is to qualify for Social Security disability benefits. You must have a total disability and be unable to “work and engage in substantial gainful activity.”

Now, consider how many injuries or medical conditions could affect your abilities as a prosthodontist, yet not your ability to work in another role. For example, a car accident could cause serious nerve damage to your hand, preventing you from performing oral surgery. But you could likely work in another capacity. So, you wouldn’t meet the strict definition of disability that Social Security and many group disability insurance policies adhere to.

This is why own-occupation disability insurance for prosthodontists is so important. It’s specialty-specific, giving you the strongest income protection. Fill out the form below for a custom quote. Or keep reading to learn what adequate coverage for prosthodontists might look like.

What should disability insurance for prosthodontists include?

Your policy’s definition of disability can make or break your chances of filing a disability claim when needed. 

A standard disability policy will include any-occupation coverage, requiring you to be unable to work due to a long-term injury or illness. But an own-occupation policy is specialty-specific, meaning it’ll depend on your ability to perform the “substantial duties” of being a prosthodontist.

However, there are variations of own-occupation coverage. With a true own-occupation definition of disability, you can continue working in another field while collecting disability insurance benefits.

Besides the definition of disability, you’ll need to decide on various disability insurance riders. For example, prosthodontic residents and fellows should add a future increase option since you aren’t at your full earning potential yet.

Common policy riders include partial disability or residual disability benefits, catastrophic benefits, and recovery benefits.

Other optional provisions might make sense for some prosthodontists, such as a cost-of-living adjustment (COLA) or a student loan protection rider. But many times, these riders can unnecessarily inflate your premiums. 

How often do prosthodontists file disability insurance claims?

Disability insurance companies view prosthetic dentistry as a high-risk occupation. This assessment is based on historical claims data, meaning prosthodontists have filed disability claims more often than other dental specialties.

Unfortunately, you might pay higher premiums than a general dentist. But disability insurance can be worth the cost considering you’re at a higher risk of filing a claim.

What types of disability insurance are available to prosthodontists?

Depending on where you work, you might have access to employer-sponsored disability insurance. For example, if you work in a dental clinic or hospital setting, you might have group disability coverage for little to no cost. However, group plans usually have a weak definition of disability and benefit maximums that are significantly less than you need (e.g., $5,000 per month).

You can also find disability insurance through professional associations like the American Dental Association (ADA). But your premiums won’t be locked in. Rates are based on age brackets, meaning you’ll pay more as you age. Additionally, ADA discounts aren’t guaranteed from year-to-year.

Although it can be more expensive than a group policy, an individual disability policy provides the most flexibility. We recommend working with an insurance broker who searches the “Big 5” insurance carriers. These companies are responsible for underwriting the majority of own-occupation policies. Plus, a knowledgeable broker can hunt down premium discounts to get you the most affordable and comprehensive coverage.

How much disability insurance do prosthodontists need?

Disability insurance is usually available to cover up to 60% of your gross income. What does that payout look like for the average prosthodontist?

The average prosthodontist salary is $143,730, according to the Bureau of Labor Statistics (BLS). Therefore, based on this average, you could qualify for a monthly payout of up to $7,187.

But that doesn’t mean you have to purchase the maximum benefit. For example, you might have a high-earning spouse that can pick up the financial slack during hard times. Or maybe you have additional sources of income from a side hustle or rental properties. In this case, you could choose a smaller payout to reduce your premiums.

The right disability benefit amount will depend on your budget and whether you have other options to fall back on. 

Disability insurance for prosthodontists checklist

Whether you have existing disability insurance coverage or are shopping around for the first time during residency, here are a few key details to compare policies:

• Definition of disability. True own-occupation coverage will protect your prosthodontist income while allowing you to work in another field.
• Benefit amount. Make sure the payout is enough to cover your fixed expenses.
• Elimination period (also called a waiting period). A 90-day elimination period is standard. But you can choose a shorter or longer window to begin receiving disability benefits.
• Benefit period. Payout time frames range from two years up to retirement age. The longer your benefit period, the more you’ll pay in premiums.
• Exclusions or other limitations. Review the policy’s details to understand if an existing medical condition or activity is excluded from coverage.
• Monthly premiums. Know what your premiums are now and if they’ll change in the future.
• Rate discounts. Work with an experienced insurance broker to access unisex pricing and other premium discounts.

Get a disability insurance quote for prosthodontists

SLP Insurance provides custom quotes for own-occupation disability insurance for prosthodontists. Simply fill out the form below, and our team will reach out with the next steps.