Healthcare Professionals

Healthcare Professionals have a distinctive set of financial challenges and opportunities where proper planning is beneficial for success. They see firsthand the circumstances where having appropriate coverage is so important. As a healthcare professional they see the value of long term planning for their careers and their insurance needs.

Physicians
Dentists
Medical Students
Dental Students
Residents & Fellows
Hygienists

Transitioning from residency or fellowship into practice is exciting, but presents new challenges as well. A bump in pay means more financial freedom, but adds complexity as well – difficult decisions need to be made. Should I pay off my debt first? When should I incorporate? When can I buy a home? When should I start saving for retirement? How much insurance do I need? There are so many issues to consider, it is important that all are addressed and in a timely manner. And the work doesn’t end there. An established physician needs to make sure their situation is reviewed on a regular basis, and plan adjusted as necessary.

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An associate dentist faces many challenges at the start of their career. Paying off debt, saving for the future, incorporation. There are many choices for where to put your money. And the situation for the “practice owner” dentist is even more complicated. Responsibilities expand beyond the family to staff, landlords, patients, etc. It is critically important for dentists to have a plan in place to protect them, their families, and all of those involved in the business. We can help put that plan in place.

Medical students can apply for disability insurance coverage in 1st year. The sooner you apply the better as your health can change and it is easier to get coverage when healthy, and also at a younger age you pay lower rates. At Haslett Financial we will help you choose which coverage best suits your needs. Many carriers offer discounts for medical students, graduates, and residents and a few of the key features are listed below:

Guaranteed lifelong 25% discount on the base of the policy and on all future increases
Free coverage during your first year
No medical underwriting
Access to other product such as Critical Illness and Office Overhead insurance at discounted rates

In no other profession can you obtain a massive amount of credit, at the most favourable rate, with zero earnings. It is, therefore, important to protect the investment you are making in your education. A properly structured disability insurance plan does this for you. It is equally important that you live within your means – not living for what you will earn eventually. Maintaining a modest lifestyle and reasonable debtload during school will go a long way to helping you be debt free sooner, and on the road to financial freedom.

For most, residency is their first experience with earning a decent salary. It is important at this stage to get a good start on planning for the future. Early on it is crucial to review debt consolidation options while considering relief/forgiveness opportunities and other government sponsored programs. As well, it is advisable to ensure you are continuing to increase your insurance coverage to match your steadily increasing income, and to protect your expanding family. In late stage residency/fellowship it is important to establish professional relationships which can assist with incorporation, wealth management, and tax matters.

As a new hygiene graduate, we offer a disability insurance plan that includes the best definitions and wording available in the marketplace. And during a six month window – from 3 months before graduation to 3 months after – we are able to provide this coverage without evidence of employment or income. A tremendous offer that was not available to new hygienists 10 years ago. At that time a job letter and proof of income were required to obtain coverage. As you move forward in your life and career, we can help address your other insurance needs as well as establishing savings and investment programs and full financial planning.