No one likes to look on the dark side. We all tend to think that an accident or serious illness will never happen to us. But where the security of your practice is concerned, hoping is not enough. Quite simply, there is too much at stake. You need to be certain that you would be able to cope with the financial pressures and keep your practice going until you were fit and ready to work again.

That is why Dentist Overheads Expense Insurance makes very good sense. It could prove to be invaluable. Available in two versions, Platinum or Platinum Plus, the cover provides a cost effective way to protect your business. Whichever plan you choose will pay up to £12,500 a month, or 80% of the regular and ongoing expenses of your practice, if an accident or illness stops you from working for more than a month. Benefits will be payable for up to one year of incapacity

Dentists are particularly vulnerable to the financial consequences of a serious accident or illness.

If it happened to you and you could not work, do not forget that many of the practice overheads would still have to be paid. The costs would be considerable. It would be a real struggle to keep up with them, month after month. But the alternative - closing down your practice - does not bear thinking about.

• Unlike many other schemes of this type, under our Platinum Plus policy, once your application has been accepted and all the time your cover remains in force you can never be individually selected for premium increases or reductions in cover — regardless of any claims you make. However, please note that your policy will be cancelled if your claim continues for the maximum 12 month duration.
• Our Platinum policy provides many of the same benefits, but is renewed annually. Whilst this does not provide the quality of long term cover offered by Platinum Plus, it does result in lower premiums.
• You can apply for monthly benefits from £1,000 up to £12,500, but please be aware that in the event of a claim the maximum that will be paid will be 80% of your actual expenses. It is therefore important that you ensure the level of cover you have is in line with this restriction. Indexation, at 5%, is applied to your benefit level each year to ensure your cover keeps pace with rising costs.
• Apart from the core benefits provided in the event of illness or injury, both Platinum Plus and Platinum include additional covers such as providing lump sum benefit in the event of Personal Accident and absence cover for Compassionate Leave, Maternity/Adoption Leave, Paternity Leave, Jury Service or Suspension from Duty. Please refer to the policy wording for full details.
• The cover includes all regular overheads such as rent or mortgage repayments for your premises, employees’ salaries, rates, utility bills, equipment rental and so on.
• Benefits start after only 30 days and continue up to the end of the 12th month of incapacity.
• Low cost — from just over £8 a month on the Platinum Plus Scheme.
• Up to 40% tax relief — it is our understanding that the monthly premiums can be claimed as a practice expense and as such are tax deductible — effectively reducing the cost by up to 40%. However you should seek your own professional advice on this matter.
• 10% discount for non-smokers.