Abrams Financial Toronto, Insurance | Wealth Management | Tax Advisory


dentistsGoing to dental school requires an enormous investment, both in time and in money. Opening a practice requires even more of an investment. In addition to the dental skills required, you need business acumen to run the operations of the practice. While it may be hard to imagine what lies ahead, the ideal time to begin planning for your future career protection is while you are still in dental school.

Right now you’re probably focused on where you will practice; the thought of a disability is likely not even on the radar. But the earlier you prepare, the better off you will be in the event that you are ever in a position where you are unable to practice.

While we all hope to never have to use it, disability insurance provides you with protection in the event of an injury or disability.  Most people imagine they will only need to make a claim in the event of a major life-threatening illness or debilitating injury. However, the reality is that most disability claims are for events that lead to short-term work stoppage, like surgical recovery, broken bones, arthritis, etc.

Many disability policies also cover partial claims in the event that you are still able to work but must reduce hours. This enables you to supplement your lost income more easily and maximize your benefits.

Disability insurance will provide you with monthly payments in the event that an accident or illness prohibits or reduces your ability to work and earn an income. When making such an enormous investment, it is essential that you protect it.

The following is some of the common questions we will help you answer:

  • Should I save or pay off my debt?
  • When should I start investing?
  • Should I make use of RRSP and/or TFSA?
  • How to properly insure my income with disability insurance?
  • How various disability plans (CDSPI, Manulife, Canada Life) compare with each other?
  • When should I consider disability overhead expense insurance?
  • Should I start looking into life insurance?
  • Do I need TripleGuard insurance from CDSPI?
  • What are the benefits of incorporation and when should I consider it?
  • Should I buy or lease a vehicle?


Eligibility Category Maximum Issue Limits Grad Program Premium
First or second year dental students $500 20%
Third year dental students $1,000 20%
Interns/Residents $3,500 25%
Graduate (not specializing) $3,500 20%
Graduate (specialists) $4,500 25%


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