Case studies for IFAs

Martin Haines - Principal and senior adviser, Dental Financial Associates

“We always recommend Dentists’ Provident, where possible, as a first line of defence.” Martin says...

Any company that can settle its own claims without reference to a reinsurer has to be a comfort. Dentists’ Provident was formed by dentists, for dentists and over a hundred years on, still provides income protection and savings exclusively to the dental profession and therein, I believe lies the biggest advantage of all. The disruption caused by a dentist taking time off is so great that they usually just don't bother, if they do take time off you can be sure they are very unwell indeed. That is why the dental profession has its own friendly society that is financially strong and totally focused on the needs of a dental surgeon. Last but not least, the day one cover is of a quality second to none, and their claims handling is also, in my opinion, streets ahead of the nearest insurance company. Quality dental specific financial plans should be an absolute priority for every practitioner.”

Peter Dunn - Director and senior financial planner at Heritage Financial Advisers

Peter says...

“Our experience with Dentists’ Provident is that they stand out amongst income protection insurers with their ethical and principled approach to business and, wherever possible, they try to pay their members’ sickness. We also love the fact that they only insure dentists and offer a very personal service to their members.”

"Have you incorporated your practice?" Peter asks...

“Many dentists pay themselves a small salary and draw dividends. This strategy may keep down tax bills, but it means there are little earnings on paper to support the dentist's income protection cover. So if a dentist falls ill, many providers will not pay out more than 60% to 75% of their salary plus dividends. Therefore, an incorporated dentist previously taxed as a sole trader, with annual profits of £120,000 and income protection cover of £72,000 per year, could find that his insurer would only pay out £24,000 per year in the event of a claim. Dentists’ Provident one of the only income protection providers who take a sensible position in this area.”

Robert - a member of Dentist's Provident since the 1950s

Robert joined Dentists' Provident over 60 years ago when he graduated from his dental school but continued as a member after he retired...

His bonus account has continued to grow every year. This year he decided to take his funds. Robert commented, "After 27 years retired from dentistry and watching my bonus account grow, I thought it was time to cash it in. After all, 85 isn't an age to be saving!"

Vanessa - a member of Dentists' Provident in her mid 30s

Vanessa decided to start a family, after a few years of practising and postgraduate education. She says...

“I was really pleased when I found out that you can suspend your plan when you’re on maternity. I’ve been with Dentists’ Provident since I graduated, so it was really important to me not to lose my membership and know that I can still be covered when I go back to the practice. It’s good that I can save myself the monthly premium, but at the same time know that I can just start it up again without having to apply from scratch.”



If you have any questions, please contact our member services consultants by e-mailing or calling 020 7400 5710 or log into your member account at member login.


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