CDSPI Life Insurance
Peace of mind with coverage you can trust.
As a dentist, you spend your days caring for others. But have you thought about how to protect your family and your business if something unexpected happens to you? CDSPI offers life insurance for dentists and their families. It's more than just coverage - it’s an essential investment in your family's future financial security.
Why Do You Need Life Insurance?
PROTECT YOUR LOVED ONES
Your family relies on you for financial support. Life insurance ensures a source of income to help them maintain their quality of life if you're no longer there. It can cover lost income, mortgage payments, living expenses, and your children's education, acting as a safety net when they need it most.
MANAGE DEBT AND BUSINESS OBLIGATION
Dentists often have significant student loans or business loans. Life insurance can help pay off these debts. It also provides funds to keep your dental practice running smoothly or assist with a transition plan. If you are applying for practice financing, some form of term insurance will likely be a bank requirement.
PEACE OF MIND
Knowing your family is financially protected if you are no longer around to provide for them gives you peace of mind, allowing you to focus more on your practice and other important matters.
A SMART FINANCIAL MOVE
It's an efficient strategic addition to your financial planning. By choosing a policy that fits your needs and budget, you ensure comprehensive protection for your family's future.
How Much Life Insurance Coverage Do You Need?
Determining how much coverage you need is unique to your personal circumstances and financial goals. To get tailored advice, consult with an advisor at CDSPI Advisory Services Inc. You can also use this useful needs analysis calculator to help you make an informed decision.
In the event of your death, the beneficiary of your policy will receive a tax-free lump sum payment that can be used any way the beneficiary chooses including for:
Replacing your income so your family can maintain their standard of living
Paying off a mortgage and other debts
Paying taxes
Covering funeral costs
Buying out partners or shareholders
Securing practice and equipment financing
Donating to a charity
Once you determine the amount of coverage you need, the next step is finding the right policy. While there are many options when it comes to life insurance for dentists, there are two main categories; term insurance and permanent insurance.
Deciding between permanent and term insurance is not an either-or choice. For instance, a term policy can address temporary needs like funding your children’s education, while a permanent policy can cover long-term needs such as estate planning and funeral expenses. Your advisor will review your current situation and will make a recommendation that is tailored to your unique financial situation.
What Type of Life Insurance is Right For Me?
Protection of up to $4 million to age 85. Lower rates for good health and optional enhancements available.
Cover your spouse and children up to $1 million with one easy premium and lower rates for good health.
Guaranteed level premiums to age 100 with lifetime coverage up to $1 million.
Lifetime coverage with the opportunity for tax efficient investment and estate planning.
Our Insurance Advisors can help ensure you're protected
- Receive highly personalized advice based on your lifestyle and your goals.
- Answer any questions you may have about your coverage options.
- Get a tailored quote.
Resources
Reap the Benefits: Life Insurance vs. Mortgage Insurance
Demystifying Trust Funds for Dentists
How Dentists can Protect Their Dental Partnership with the Right Insurance
How Life Insurance can Safeguard your Estate…and Help Keep the Family Cottage
We're Here to Help
Our team is available weekdays, 8:30-4:30 pm.
Send us a message
You'll receive a response within 2 business days.
For customized advice, you can meet with a licensed advisor to discuss your needs.