5 Ways to Protect Yourself from the Unexpected

Over the past several months, one thing has become clear – the unexpected can happen at any time. While we’ve discovered that there is a lot that is simply beyond our control, preparing for life’s surprises can allow us to better navigate through them.


Having the right insurance can protect you, your family, your practice and your lifestyle against unforeseen events. As you might imagine, insurance isn’t one-size-fits-all – you need different types of coverage for different areas of life, at different stages of your career.


Here are 5 ways CDSPI can help protect you from the unexpected:


  1. Protect Your Loved Ones with CDSPI Life Insurance*


Life insurance may seem complicated and daunting, yet it can be an essential investment in the future of your family. It helps protect your loved ones in the event of your death, helping to cover bills, taxes, debts and ongoing living costs.


And it doesn’t need to be as complicated as you may think. While there are several options available in terms of insurance type, amount and timeframe, the options exist to allow you to customize your coverage and best protect the people you care about. It’s wise to work with one of our licensed insurance advisors** who can walk you through what’s right for you and your family and stay in touch as your life and needs evolve over time.


  1. Protect Your Income with Disability Insurance


What would happen if you suffered a serious accident or injury and couldn’t work? This is where disability insurance comes in, as it protects your income and your lifestyle if you’re too sick or injured to practise dentistry.


When you choose DisabilityGuard,* Insurance from CDSPI, you get the added benefit of coverage that’s designed specifically for dentists. For example, if a total disability prevents you from continuing to practise dentistry, and you take up a new occupation, your benefits would continue under the Own Occupation definition even if you are able to earn income from a new occupation.


You can also add another type of disability insurance if you own a practice to help protect yourself and your business with coverage for ongoing expenses if illness or injury keeps you from working.


  1. Protect Your Practice with Office Insurance


Whether you’re an associate or practice owner, coverage is available to protect your equipment and supplies. Our office insurance offers protection for your dental equipment, office contents, supplies, and even patient records. It also protects you against lost income and liability lawsuits.


You can also add insurance to protect the building in which you practise against damage.


TripleGuard Associates and TripleGuard Practice Owner coverage is available from CDSPI in one convenient, cost-effective package.


  1. Protect Your Career with CDSPI Malpractice Insurance


Because you are legally responsible for the services you and your staff perform, you could be accused of malpractice, error or mistake – and the corresponding financial consequences could be significant.


While Malpractice Insurance is mandatory for dental professionals, it’s a good idea to top-up your policy to ensure you are adequately protected in the event a patient makes a claim against you. This coverage provides assistance and legal representation to help you manage through a claim situation.


  1. Protect Your Most Valuable Assets with CDSPI Home & Auto Insurance


Your home is your sanctuary and a valuable asset. At the same time, your car(s) are key to your way of life. It’s essential that you protect them – and your finances – from potential risks. CDSPI Home and Auto Insurance is easy to obtain and can be customized to cover what’s special to you – such as your jewelry, artwork, swimming pool, watercraft and other valuables.


When you choose our Home and Auto Insurance you can take advantage of preferred group rates, as well as a wide range of benefits including emergency assistance, 24/7 claims and online and mobile services.


Whether you’re young and starting out, starting a family or have an established practice, insurance is valuable at every stage of your life and career. Having the right protection at the right time can offer financial and personal peace of mind that you’re prepared for whatever life brings.


*Life Insurance and DisabilityGuard Insurance are underwritten by The Manufacturers Life Insurance Company (Manulife). All rights reserved. Manulife, PO Box 670, Stn Waterloo, Waterloo, ON N2J 4B8.


**Advisory services are provided by licensed advisors at CDSPI Advisory Services Inc. Restrictions may apply to advisory services in certain jurisdictions.


Malpractice Insurance and TripleGuard Insurance are underwritten by Aviva Insurance Company of Canada. CDSPI Malpractice Insurance is offered in all provinces and territories except Ontario and Quebec.


The CDSPI Home & Auto Insurance Program is underwritten by The Personal Insurance Company and distributed by CDSPI Advisory Services Inc. The CDSPI Home & Auto Insurance Program is subject to certain conditions, limitations and exclusions. Products, services, savings and discounts are subject to eligibility conditions and may vary by jurisdiction. Rates and discounts are subject to change without notice. The CDSPI Home & Auto Insurance Program is not available to residents of Quebec. Auto insurance is not available to residents of Manitoba, Saskatchewan and British Columbia due to government-run plans. The terms and conditions of the coverages described are set out in the insurance policy, which always prevails.


The information provided in this article is intended for general guidance. Complete terms, conditions, exclusions, restrictions and limitations governing the coverages are found in the insurance policies and contracts.


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