It's a good time for financial advice. CDSPI is here to help you.
Graduation is a significant milestone that can bring both excitement and challenges. This is an important time to start thinking about the road ahead and transitioning to practice. You can count on CDSPI for support now and throughout your career.
If there’s one thing you should know about CDSPI, it’s that we’re different from other financial services firms. Our mission, structure and not-for-profit status truly sets us apart. We have been advancing the financial wellness of dentists for over 60 years.
Find out what makes us unique and why that’s important for you.
The Benefits of No-Cost Insurance After Graduation
If you are protected by CDSPI No-cost Undergraduate Insurance, you have several advantages as an associate:
- Your life, disability and accident coverage will double upon graduation at no cost to you – giving you twice the protection at no cost until December 31 of your graduating year.
- Once the no-cost period ends, you’ll receive a 50% reduction on premiums for life, accident and office insurance for three years following your graduation.
- You will also receive a 15% lifetime reduction on premiums for DisabilityGuard™ Insurance.
Once you know where you will be working, we recommend completing the No-Cost TripleGuard™ Insurance Activation Form. Please note, selecting the regular TripleGuard™ Insurance plan on the Activation Form will provide coverage at one location only.
Many new dentists begin their careers as associates and commonly work at more than one dental practice. If this will be the case for you, it’s advisable to select the TripleGuard™ Insurance Associate Package on the Activation Form, that includes;
- Coverage for your dental equipment, contents and leasehold improvements;
- Replacement of lost income from interruption due to practice damage; and
- Insurance against commercial liability lawsuits.
TripleGuard coverage is available at no cost until the end of this year and you will enjoy a 50% reduction on regular premiums² for three years when you renew in January, 2023.
As a new dentist, you’re also new to Malpractice Insurance. Visit the CDSPI knowledge library for curated resources to help you manage your risk and to apply online.
Explore more tools and resources created for new dentists
You're embarking on an exciting career in dentistry, but you will face some daunting choices. Take your time, be sure to reflect, and try to make informed decisions to help shape your future career path.
Start Saving with an RRSP and TFSA
With an RRSP and TFSA from CDSPI, you gain access to a wide range of leading funds with low management fees as well as investment advice from Certified Financial Planner® professionals at CDSPI Advisory Services Inc.
They work exclusively with dentists at every stage of their career and can make recommendations based on a unique understanding of your needs.
Registered Retirement Savings Plan (RRSP)
An RRSP can help you reduce your taxes while saving for the future. Your money grows faster since the growth is tax-deferred and you can deduct the amount contributed to your RRSP from your income, reducing your tax payable. You can also use your unused contribution room from previous years to contribute more to your RRSP when you are able.
Tax-Free Savings Account (TFSA)
A TFSA allows you to invest without paying tax on the growth. You're able to make tax-free withdrawals whenever you want and can access unused contribution room dating back to 2009.
Frequently Asked Questions
It's Important to Have a MAP—no-cost personal support 24/7/365
We understand that this can be a stressful time. That’s why CDSPI is pleased to sponsor the Members’ Assistance Program (MAP), providing access to important services such as short-term counselling, professional referrals, and a variety of resources to support your physical and mental well-being.
Basic Life, Accidental Death and Dismemberment and Disability Insurance are underwritten by The Manufacturers Life Insurance Company (Manulife), PO Box 670, Stn Waterloo, Waterloo, ON N2J 4B8.
Malpractice and TripleGuard™ Insurance are underwritten by Zurich Insurance Company Ltd. CDSPI Malpractice Insurance is offered in all provinces and territories except Alberta, Ontario and Quebec.
MAP is provided through LifeWorks, the largest Canadian-based Employee and Family Assistance provider in the country.
The information contained here is a summary only. A full description of coverage and eligibility, including exclusions, restrictions and limitations can be found in the Policy Terms and Conditions governing each plan.