Retiring/Retired Dentists

Dentists near or in retirement face some very complex decisions about insurance. In our opinion this phase in a dentist's life typically requires the most planning.  As medical cost continue to rise obtaining adequate health and long-term care insurance is extremely important.  Equally important is having an insurance plan to assure you are not under or over insured on your personal property and casualty insurance; including homeowners, auto and liability insurance coverages.

Professionally, it is critical dentists carry malpractice even when retired.  Malpractice coverage in retirement is sometimes known as tail coverage.  Tail coverage will ensure any malpractice claims brought against you while retired are covered. 

You have worked hard to build your wealth.  The most serious threat to losing your wealth is exposure to liability lawsuits.  Insurance plays a vital role in protecting your wealth in retirement.  Managing insurance expenses in retirement is important when trying to maintain financial security and independence.  Unfortunately, a lot of dentists in or near retirement often overlook easy savings opportunities in their personal insurance programs.

For example, we see dentists carry policy deductibles that are too low.  Many fail to take advantage of package discounts by combining their policies with one carrier. Often credits for alarm and other safety systems in their homes and autos are not claimed.  

We recommend the following types of insurance for dentists nearing retirement:

• Professional Liability
• Employment Practices Liability
• Workers' Compensation
• General liability
• Business overhead          
  
• Life
• Disability
• Long-term Care
• Health
• Hospital Indemnity
• Auto
• Home
• Umbrella
• Flood
• Earthquake

• Professional Liability Tail Coverage
• Medicare Supplement
• Long Term Care
• Life
• Health
• Hospital Indemnity
• Auto
• Home
• Umbrella
• Flood
• Earthquake