Disability Insurance Designed for Dentists Purchasing a Dental Practice
Oct 19, 2010
Jamie Fleischner

Jamie Fleischner

19 Oct, 2010

When a dentist purchases a dental practice, oftentimes they must obtain financing through a bank. Before a bank will will issue the loan, they want to be secure that the borrower will be able to pay the loan back in the event the borrower becomes disabled.

For dentists, securing the loan with disability insurance can be a requirement.  There are policies designed to fulfill this need specifically.

The policy works to protect the balance of the loan by paying the bank a monthly amount for the duration of the loan.  For example, suppose Dr. Dentist purchases a practice for $300,000. The loan requires they pay $3000/month for 7 years.  The disability insurance policy would pay the bank that $3000/month. If Dr. Dentist was disabled in year 1, the policy would pay the bank the remaining 6 years.

For more information about obtaining disability insurance for dentists or for dentists purchasing a dental practice, contact Set for Life Insurance today!

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Getting the right disability insurance can be downright confusing. At Set For Life, we’ll help you understand the options and work with you to select just the right product for you and your family. These articles will help you understand some of the complexities involved, but we’re happy to walk you through it! If you’re ready to get set, reach out for a quote today!