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Is Group Insurance a Good Thing for You?

The ADA group insurance plans are a valuable benefit of your ADA membership with insurance plans designed specifically for dentists.

Find out how ADA members insurance plans are designed to help protect you, your practice and your family.

Insurance is a key part of every financial plan: It helps protect you and your family from financial loss. Some multi-dentist group practices provide affordable group insurance plans, but many dentists find themselves in the position of having to find their own insurance coverage, or supplementing the available policies to ensure they have the coverage they need.

You may have been told that group insurance products are not right for you. Critics of group insurance sometimes say that, depending on the employer or group, there may be only one insurance plan choice and limited ability to customize your coverage; that disability coverage may deny you benefits if you work in another area of dental practice or in a new occupation; that you may lose your coverage if you change your job; and that because you’re not the policy owner, your benefits or rates may change at any time — or even be cancelled. Many dentists are left wondering whether group insurance is the right choice for them.

How the ADA Members Insurance Plans Differ

Generations of dentists and their families are protected by the ADA Members Insurance Plans, issued by Protective Life. The plans are designed to address the issues that many critics have with group insurance.

Variety

The ADA members insurance plans give dentists choices, including three types of life insurance: Term Life, Level Term Life and Term Plus® Universal Life Insurance.

There are also two disability insurance plans, Disability Income Protection and Office Overhead Expense, which include the true “own occupation” definition of disability. This means that if you are disabled from your specialized area of dental practice, you can still receive benefits, even if you are able to work in another area of dentistry, or in another field.

Two supplemental medical insurance plans are also offered: Hospital Indemnity and Critical Illness.

Consistent coverage

An important feature of ADA members disability insurance is our Coverage Lock-In guarantee, which means that while you can apply for additional coverage as your needs change, you won’t lose the features from your original coverage, such as own occupation coverage and waiting period waivers for qualifying hospitalizations. Unless alterations are mandated by changes in law or regulation, the coverage features you sign up for cannot be changed or taken away, though the coverage can be enhanced. And you don’t have to worry about losing your insurance if you change your job; as long as you maintain active ADA membership, you can take your ADA group insurance with you as your career evolves.

Competitive rates

There are further benefits to obtaining coverage with the ADA group insurance plans. The group insurance model enables the ADA to offer some of the most competitive rates in the market because only ADA members — like you — are insured, rather than the general population. That means the buying power of tens of thousands of ADA members, student members and their families can be leveraged, allowing for the negotiation of favorable terms of coverage that individuals can’t get on their own. The simplified group insurance contract structure streamlines the plan administration, reducing costs and helping to ensure you receive a consistently good value year after year.

Premium credits

For large group insurance plans, insurance companies can adjust rates based on past performance, which has been a significant financial benefit for ADA members insurance plans. Over the last 10 years, the favorable claims experience of ADA Term Life Insurance has been passed back to the participants in the form of a premium credit, rather than benefiting the insurance company like individual insurance does. This has reduced participants' insurance costs by 33% on average.1, 2

Valuable benefit

As an ADA member, it’s important to make sure you’ve critically assessed your insurance needs. The ADA group insurance plans, underwritten by Protective, are a valuable benefit of your ADA membership, and can help you meet those needs in a flexible and effective manner, with insurance plans designed specifically for dentists. As you progress through your career, remember that the ADA offers many options to help protect you, your family and your practice.

1The Premium Credit discount shares favorable financial results with Plan participants. The Premium Credit discount is not guaranteed, but reevaluated periodically.
2Based on internal premium credit calculations from 2011 to 2023.

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The information on this website is not a contract. Protective refers to Protective Life Insurance Company (PLICO) and its affiliates, including Protective Life and Annuity Company (PLAIC). PLICO, founded in 1907, is located in Nashville, TN and is licensed in all states excluding New York. PLAIC is located in Birmingham, AL, and is licensed in New York.

Protective® is a registered trademark of PLICO. The Protective trademarks, logos and service marks are property of PLICO and are protected by copyright, trademark, and/or other proprietary rights and laws. ADA® is a registered trademark of the American Dental Association (ADA). ADA Members Insurance Plans® is a registered service mark of the ADA. The ADA trademarks, logos, and service marks are the property of the ADA and used by Protective with permission. In some states, the ADA is entitled to receive royalties from the ADA Members Insurance Plans.

ADA Members Insurance Plans refers to the group life, disability, and supplemental medical policies issued by PLICO and PLAIC to the ADA.

Policies issued by PLICO in all states except New York: Term Life Insurance1 (TL-P 1-21), Student Term Life Insurance (TL-ST-P 2-21), Universal Life Insurance1 (TP-P 11-20), Level Term Insurance2 (LT-P 1-21), Disability Income Protection Insurance3 (IP-P 7-20), Office Overhead Expense Disability Insurance4 (OE-P 9-20), Student Disability Income Insurance3 (ST-P 8-20), Hospital Indemnity Insurance (HI-P 11-20), and Critical Illness Insurance (CI-P 7-20).

In New York, policies issued by PLAIC: Term Life Insurance1 (TL-P-NY 1-21), Student Term Life Insurance (TL-ST-P-NY 2-21), Universal Life Insurance1 (TP-P-NY 2-21), Level Term Life Insurance2 (LT-P-NY 2-21), Disability Income Protection Insurance3 (IP-P-NY 12-20), Office Overhead Expense Disability Insurance4 (OE-P-NY 01-21), Student Disability Income Insurance1 (ST-P-NY 1-21), Hospital Indemnity Insurance (HI-P-NY 1-21), and Critical Illness Insurance (CI-P-NY).

Consult the policy for benefits, riders, limitations, and exclusions. Benefits adjusted for misstatements of age or sex. Benefits are provided under a group policy issued to the ADA. Each Plan participant will receive a Certificate of Insurance explaining the terms and conditions of the policy. An insured must maintain continuous ADA membership to remain eligible for insurance.

1For term life insurance and universal life insurance, premiums increase annually based on age. The Premium Credit is not guaranteed but reevaluated periodically. Universal life recommended premiums consist of the costs of insurance (which vary based on the member’s age and coverage amount), the amount a member places into the Policy Value Account and service charge. Premium deposits may fluctuate or remain level.

2For level term life insurance, premiums are fixed based on the member’s age, gender and coverage amount at issue.

3Premiums increase every five years based on age for disability income protection. Premium Credit is not guaranteed but reevaluated periodically.

4Premiums increase every 10 years based on age to age 60 and every 5 years thereafter to age 75 for office overhead expense disability. Premium credit is not guaranteed but reevaluated periodically.

Coverage for dental student members is issued regardless of condition if under age 60. Coverage automatically renews each academic year. Individuals may convert coverage to the plans for practicing dentists after graduation by paying member premiums and maintaining continuous ADA membership.

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