Career of a Dental Surgeon is dynamic in nature and goes through several stages with each stage having its own set of problems and solutions.
For Dentists running their private clinic, Insurance is one of the most important aspects of Dental Practice Management.
This blog will familiarize you with the Insurances available to the Dentists for safeguarding their Clinical practice.
Dental Practice Management – Top Insurances
Establishment of a Dental Clinic requires a great deal of Investment and thereby, safeguarding the Clinical Practice and future is highly vital for every Dentist.
The objective of Insurance schemes is to ensure financial safety against any unforeseen event which may impact the future of a Dentist.
Therefore, let us first go through the major points which may impact the Clinical Career of a Dentist:
- Loss of life of the Dentist because of illness or accident (with a dependant family)
- Unforeseen Damage to the Dental Clinic (Fire, Theft)
- Sudden Health Issues requiring expenditure for Management
- Loss of limbs/working capacity due to accident or disease
Also Read: Problems Faced by BDS Graduates Today
Now, let go through at the Top Insurance schemes available to the Dentists:
1. Insurance for Damages to Dental Clinic
Damage to Dental clinic through unforeseen events such as Fire and Theft can substantially impact the career of a Dentist. Lakhs of Rupees are invested while setting up a Dental Clinic.
Therefore, safety of the Dental clinic is paramount for a Dentist.
Insurances against Damages to Dental Clinic are known as Office Insurance or Shop Insurance.
Such Insurance policies provide basic cover against damage resulting from Fire – whether Malicious or Accidental, inbuilt riders for damages resulting from natural calamities.
What is Included in Office Insurance?
- Basic Office Premises and Furniture Items
- Damage/Theft - Dental Equipments
While selecting an Office Insurance scheme, go through the clauses and see what the policy offers and what not. Select a policy only after going through policies offered by different companies.
2. Insurance for Professional Indemnity/Consumer Cases
Being a Dentist, you offer professional services to the clients.
Even after working with utmost care, there is a potential of something going wrong during or after the treatment.
Because of an error committed during the procedure, any damage to a consumer can induce legal case on the Dentist on account of professional negligence.
These insurance policies cover liabilities falling on the Dentists as a consequence of errors and omissions committed by them whilst rendering professional services.
Such Insurances cover all sums which the insured Dentist is liable to pay as compensation to a third-party for damages incurred whilst providing professional service.
Legal costs and expenses incurred in defense of a case are also payable under the Insurance subject to the overall limit of the indemnity selected.
3. Insurance for Safeguarding Interests of Family
For safeguarding the interests of your family in case of an unforeseen death or disability, Insurance options available include:
- Life Insurance (With Maturity Benefits)
- Term Insurance (Insurance of life with no maturity benefits)
- Health Insurance (Insurance for Health)
Stay tuned for more updates!