Bowman Insurance and Benefit Services
Insurance for Office Managers
Disability Insurance

Your most important asset is not your home, your car, your jewelry or other possessions. It’s your ability to earn a living.  We plan our lives based on the assumption we will continue to earn a paycheck until we retire.  If you are unable to work because of illness or injury, disability insurance provides an income to you and your family.

When buying personal disability insurance for the first time, there is lot of terminology that need s to be considered. Based on our vast experience working with dental professionals, we have put together a list of some of the “Top 10 Things to Consider” in a disability policy for a dental professional.

Your income is typically your largest asset.  Sometimes, getting sick or injured prevents us from earning income for a short period of time, several years, or even permanently.  Other times, getting sick or injured might prevent us from earning as much income because we are no longer able to do the job we had.  Having the right type of policy for you protects you and your family by making sure you still have a monthly income.

If you already have a disability policy, don’t forget to review your policy when big life events occur.  Changes at work or home like getting a large pay raise or having a child can impact the type of coverage you need.

Life Insurance

In the event of a tragedy, life insurance proceeds can help pay the bills, continue a family business, finance future needs like your children’s education, protect your spouse’s retirement plans, and much more.

You should definitely consider life insurance if you are married, have a mortgage someone else is also responsible for, currently have any personal debt, or if you have children.  There are many types of insurance, but the two main categories are “term” insurance and “permanent” insurance.  When trying to determine the type of coverage and the amount, there’s no “cookie cutter” approach.  As your life changes, your life insurance needs also change.  So, even if you already have life insurance, your current policy might not suit you anymore.  Let us sit down with you to determine what sort of coverage will meet your goals, your budget, and most importantly, protect your loved ones

Health Insurance

In the event of a tragedy, life insurance proceeds can help pay the bills, continue a family business, finance future needs like your children’s education, protect your spouse’s retirement plans, and much more.

You should definitely consider life insurance if you are married, have a mortgage someone else is also responsible for, currently have any personal debt, or if you have children.  There are many types of insurance, but the two main categories are “term” insurance and “permanent” insurance.  When trying to determine the type of coverage and the amount, there’s no “cookie cutter” approach.  As your life changes, your life insurance needs also change.  So, even if you already have life insurance, your current policy might not suit you anymore.  Let us sit down with you to determine what sort of coverage will meet your goals, your budget, and most importantly, protect your loved ones.

Health

If you work for a large dental group, you will most likely have access to a group health insurance plan.  Not all smaller dental offices choose to offer health insurance to their employees.  If you are married and your spouse works, you have access to getting on your spouse’s health plan.  If you are single or your spouse doesn’t work, typically your best option will be applying for an individual plan.

Aside from understanding where you can get health insurance, it’s important to know that there are many different types of health insurance plans, each with their own set of costs, benefits, and limitations.  For example, a Health Savings Account (HSA) offers smaller premiums and a different type of coverage than a traditional plan; the HSA suits healthy individuals who need only minimal care from a doctor and don’t have expensive prescriptions.  Finding the most cost-effective solution is best accomplished by talking with an agent to identify which type of plan suits you and then comparing quotes.

Maternity coverage may or may not be needed in your situation, but this coverage now has very strict requirements for both coverage terms and the type of plan that is selected.

No matter what your situation is, you have many different options available to you, and an insurance professional will help to find which option is the most cost effective solution for the type of coverage you want.  Because all policies work differently, understanding the way these policies work is a crucial part of choosing the policy that benefits you the most.

Investments

Saving for retirement is critical once you enter the work force.  However, setting aside money for this purpose always seems to come last on everyone’s expense list.  Your employer may offer a plan that has some sort of “matching.”  You should participate up to the matching limit if at all possible.  Otherwise, you are leaving money on the table!  If your employer does not offer a retirement plan, then what should you consider before you invest?  Let us help you come up with a plan to help you meet your retirement goals.  The “time value of money” principle shows that it is not how much you save each month-but rather that you start saving a little each month, as soon as possible, to accumulate money for retirement.  We can also help design a personalized plan that takes into consideration your saving goals, your risk tolerance, and the advantages of dollar cost averaging.