Episode summary
Are You Properly Insured? A Dentist’s Guide to Risk
The Dentist Money Show
· · 58 min · Hosts: Matt, Will
Summary
The hosts frame insurance as part of a broader risk-management problem, not a product-shopping exercise. They lay out four basic ways people handle risk — avoid it, reduce it, retain it, or transfer it — and argue that dentists often leave important risks on the back burner until a problem forces action. The episode focuses on the risks most relevant to dental careers: loss of earning ability, premature death, and liability from accidents or lawsuits.
On disability insurance, they argue that dentists should usually own a true own-occupation policy, because even a hand, arm, or back injury can end chairside practice without preventing other work. They note that coverage needs depend on career stage, practice structure, and spouse income, and that paying premiums inside the practice can create a taxable benefit later. On life insurance, they favor term coverage for most dentists and warn against mixing insurance with investing through permanent products.
They also stress umbrella liability coverage as a cheap, often overlooked layer of protection for dentists with growing net worth. Their rule of thumb is to match umbrella coverage to assets, then revisit both coverage levels and the need to keep or drop policies as circumstances change. The big point is that insurance should be chosen after understanding the risk, not before.
Key takeaways
- The hosts say dentists are always making a risk decision, even when they do nothing, because inaction is a form of retaining risk.
- They argue disability insurance should usually be true own-occupation coverage for dentists, since chairside work can end without ending all work.
- The guest says one in four dentists with disability insurance eventually file a claim, making it one of the highest-use policies they own.
- For life insurance, the hosts favor term coverage for most dentists and warn that permanent insurance often mixes investing and insurance in an inefficient way.
- They say personal umbrella liability coverage is a cheap way to protect a dentist’s growing net worth, with a rough target of matching coverage to assets.
- The hosts say insurance should often be temporary and reviewed as career stage, practice income, and net worth change.
Notable quotes
“the things that we talk about and the work that we do is like the ultimate category of, oh yeah, we'll get to that later”
“one in four dentists throughout their life that have disability insurance”
“if you're disabled, but you can work some do some other job, maybe a desk job or bag groceries or whatever it is, then you still get paid out as if you were not able to work as a dentist”
“in 99 out of a 100 times when you combine insurance with investing, it just makes the both worse outcomes”
How the episode opens
Consult an adviser or conduct your own due diligence when making financial decisions. General principles discussed during this program do not constitute personal advice. This program is furnished by Dennis Advisers, a registered investment adviser. Welcome back to the Dennis Money Show, where we help dentists make smart financial decisions. I'm a guy named Mac. I'm here with Will the Brain Cochner. Will, what's up, man?
What's up, Matt? How you doing? — Good to be here. I'm great. School has started uh officially both kids now. And all all your kids that are — All your kids school age? — No, three of them. Three of the five.
Three of the five. — Yeah. — Three of three of the five little chickens are are off out of the roof. — Yep. — Uh yeah. — Bittersweet. Bittersweet. a little bit bitter cuz you love your kids but sweet to have them get back to a routine and bedtimes and so it's been nice. Yeah.
Yeah. Well, I had this will come out, you know, weeks after this actually happened. But today, uh my son started kindergarten, so that was a a big — It's a big milestone. — A big milestone, but really fun. He was like super pumped.
Yeah. So went from my daughter two years ago who was crying — And was like just really sad and like nervous and he I think he was nervous but he was all the backpack. — Is there anything better than the backpack that is three times too big? Cuz there's no backpack that is small enough to fit a 5-year-old kid.
Yeah. — And he's got his Utah hat on — Just walking in just like waving like, "See you later, mom and dad.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- risk management
- dental insurance
- disability insurance
- liability insurance
- life insurance
Watch the episode
Watch “Are You Properly Insured? A Dentist’s Guide to Risk” on YouTube
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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The Dentist Money Show, this episode and its artwork belong to Dentist Advisors - Financial Planning and Investment Management. Octagon is not affiliated with the show; this page is an independent summary.
