Posted: Aug 01 '20

What to Know About Term Life Insurance if You’re a Dentist or Medical Doctor

As a working dentist or doctor, you know that you have your family covered. Do you have enough coverage if you are no longer able to provide for them? Most professional associations do not provide enough benefits for the families of doctors or dentists to get by, do you have enough coverage in the case of an unfortunate event? Think about the plans that you have signed up for and how will your family fare if you are no longer there? You can always add to the coverage that you currently hold. There are many good plans out there. Term life insurance may be the right choice for you. Here are some things you should understand about a term life insurance policy. Call a Vistaplan advisor today.

What is Term Life Insurance?

Term life insurance policy only pays out a death benefit. It cannot be used as collateral for loans and you cannot borrow against it. Your term policy is only good for the term that you choose.

These policies usually have:

• Specific dates they are valid between
• The ability to renew your policy with no checkup
• Lower premiums than a universal policy
• Many term life plans are convertible to a permanent policy without checkup as well

Why Should I Consider Term Life Insurance?

A term life insurance policy will give you peace of mind during specific situations. Term policies are great when your spouse is out of work temporarily or permanently. They can work well during times of change in your life or the timeline of your practice. A term policy can also come in handy if you are thinking about adding benefits to your permanent policy but are not 100% sure about the amount just yet. 

Getting Term Life Insurance

There are many great reasons to look into a term policy. It is always better to have more coverage than not enough. If you are uncertain, or are anticipating big changes to your practice, a term life insurance policy is an excellent choice if you are not ready to commit to a more permanent solution. Contact our life insurance brokers to talk about a term policy that suits your needs.

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About the Author - David Motkoski

David is a well-respected insurance advisor with over 30 years of experience helping healthcare professionals, business owners, and their families secure their financial futures. He takes the time to make certain his clients understand the life, disability, and health insurance products they are purchasing, so they can make the right choices for their budgets, plans, and futures. CONNECT WITH ME ON LINKEDIN