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Dentistry is a high-income, highly skilled profession that positions individuals for long-term success. During dental school and residency, speakers often emphasize the importance of practice management and financial management as central pillars of a successful career. However, one of the more challenging conversations involves personal life insurance. Proper planning in this area allows dentists to protect themselves enabling them to focus on what they do best — caring for patients. Life insurance is a risk management tool, not just a formality. By understanding its mechanisms and protective benefits, individuals can harness life insurance as a valuable asset that supports them throughout various phases of their career. Compared to many other professionals, dentists typically enter the workforce with significant student loan debt, often ranging from $100,000 to $600,000 or more. After graduation, additional financial responsibilities can follow quickly, including purchasing a home or acquiring a dental practice. Carrying such a heavy debt load early on can make dentists, and their families, more vulnerable to financial strain if unexpected events occur and proper planning is not in place. Dentists can secure life insurance early in their career and use it as a protective tool if circumstances do not go as planned. NOT ONE-SIZE-FITS-ALL Life insurance is not one-size-fits-all, especially for dentists whose financial responsibilities tend to grow rapidly. The two of the most common types of life insurance are Term Life and Whole Life, and each serves a different purpose within a dentist’s overall financial plan. TERM LIFE INSURANCE Term life insurance provides coverage for a specific period of time, commonly 10, 15, 20, or 30 years. If the insured passes away during that term, the policy pays a death benefit to the beneficiaries. Term life insurance is often the most cost-effective way to obtain a large amount of coverage, making it especially valuable during high-liability years. It can help protect a spouse or family while student loans, a mortgage, or practice debt are still outstanding. Term life insurance ensures loved ones are not burdened with debt or forced to make significant lifestyle changes should the unexpected happen. Some Term policies are also convertible, allowing dentists to convert term coverage into whole life insurance later without additional medical underwriting—an attractive option for future practice owners who may want access to cash value in the future. WHOLE LIFE INSURANCE Whole life insurance, on the other hand, provides lifelong coverage. In addition to a guaranteed death benefit, Whole life policies build cash value over time. This cash value grows on a tax-advantaged basis and can be accessed during the insured’s lifetime through policy loans or withdrawals. For dentists with stable income and long-term planning goals, Whole life insurance can serve as both a protection and a cash accumulation tool supporting legacy planning, future expenses, or conservative diversification alongside traditional investments. LIFE INSURANCE WORKS FOR YOU The most effective strategy is not choosing one option over the other but understanding how each fits into different stages of life. Discussing life insurance can often feel uneasy because it requires contemplating potential future situations that no one wants to imagine. However, life insurance ultimately empowers dentists to pursue their goals confidently, knowing their loved ones and financial obligations will be protected. Written by: Julia Breneman
When applying for life insurance, many people believe that age is the most important factor in determining their premium. While age does play a role, your health and lifestyle habits often have an even greater impact on your eligibility, coverage options, and overall cost. Life insurance carriers evaluate risk carefully. Understanding what factors they review can help you prepare for the application process and make more informed decisions. Health History and Medical Conditions One of the first things an insurance carrier evaluates is your overall health and medical history. This includes both current conditions and past diagnoses. Carriers commonly review chronic conditions, blood pressure and cholesterol levels, height and weight, prior surgeries or hospitalizations, and family medical history. Having a health condition does not automatically disqualify you from coverage. In many cases, well-managed and well-documented conditions are viewed more favorably than untreated or inconsistent care. Tobacco and Nicotine Use Tobacco use is one of the most significant factors affecting life insurance premiums. This includes cigarettes, cigars, chewing tobacco, vaping, and other nicotine products. Applicants who use nicotine typically pay higher premiums due to increased health risks. However, many carriers will offer non-smoker rates after a period of nicotine-free use. Proper timing and disclosure can make a substantial difference in cost. Lifestyle and Dangerous Activities Insurance carriers also consider how you spend your time outside of work. Certain hobbies and activities are considered higher risk and may affect pricing or coverage terms. Examples include skydiving, scuba diving, rock climbing, racing, and private or recreational aviation. Participation alone does not necessarily result in higher premiums. Frequency, training, certifications, and safety precautions all play an important role in underwriting decisions. Driving Record and Legal History Many applicants are surprised to learn that their driving record can impact life insurance premiums. Carriers may review DUI or DWI convictions, reckless driving citations, multiple moving violations, and license suspensions. A clean driving record reflects responsible behavior, while recent or repeated violations may raise concerns. Serious criminal history may also affect eligibility depending on severity and timing. Alcohol and Substance Use Moderate alcohol consumption is generally acceptable. However, excessive use or a history of substance abuse can significantly impact underwriting decisions. Applicants may be asked about alcohol intake, prior treatment or rehabilitation, and prescription medication usage. Accuracy and transparency are critical during this portion of the application. The Advantage of Working With a Brokerage As an insurance brokerage, we are not tied to one carrier. This allows us to evaluate multiple companies and identify the carrier that best suits your health profile, lifestyle habits, and long-term goals. Different carriers view risk differently, and our role is to advocate on your behalf and match you with the most appropriate option available. The Bottom Line Life insurance underwriting is about accuracy, not perfection. An informed applicant is a stronger applicant. Understanding how your health and lifestyle affect your application allows you to plan ahead and avoid unnecessary surprises. Choosing the right policy and carrier is an important decision. By working with a brokerage that understands both insurance and your profession, you can feel confident knowing your coverage is tailored to you and will be there when it matters most. Written by: Reghan Handley