Best life insurance for dentists: What you need to know

The best life insurance companies for dentists are Legal & General America, MassMutual, Brighthouse Financial, and Mutual of Omaha.

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By

Tory CrowleyAssociate Editor & Licensed Life Insurance AgentTory Crowley is an associate editor and a former licensed insurance agent at Policygenius. Previously, she worked directly with clients at Policygenius, advising nearly 3,000 of them on life insurance options. She has also worked at the Daily News and various nonprofit organizations.&Andrew HurstSenior Editor & Licensed Auto Insurance ExpertAndrew Hurst is a senior editor and a licensed auto insurance expert at Policygenius. His work has also been featured in The New York Times, The Wall Street Journal, Forbes, USA Today, NPR, Mic, Insurance Business Magazine, ValuePenguin, and Property Casualty 360.

Edited by

Antonio Ruiz-CamachoAntonio Ruiz-CamachoAssociate Content DirectorAntonio helps lead our life insurance and disability insurance editorial team at Policygenius. Previously, he was a senior director of content at Bankrate and CreditCards.com, as well as a principal writer covering personal finance at CNET.
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Reviewed by

Ian Bloom, CFP®, RLP®Ian Bloom, CFP®, RLP®Certified Financial PlannerIan Bloom, CFP®, RLP®, is a certified financial planner and a member of the Financial Review Council at Policygenius. Previously, he was a financial advisor at MetLife and MassMutual.

Updated|4 min read

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If you’re a dentist, life insurance can be an important part of financial planning, especially if you have any dependents who rely on your income. Not sure where to start? We used industry data, pricing from our partners, and third-party ratings like AM Best and J.D. Power to pick the best life insurance companies for dentists.

If you’re ready to compare life insurance quotes and find the right coverage, Policygenius can help.

Ready to shop for life insurance for dentists?

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Methodology

Why you can trust our picks

Our recommendations are based on internal and external expert analysis, as well as our Policygenius Life Insurance Price Index, which uses real-time data from leading life insurance companies to determine pricing trends. When reviewing a life insurance company, our editorial team uses a proprietary scoring rubric with five factors — price, policy details, financial strength, transparency, and customer experience — to assign an unbiased rating between one and five stars. These ratings are also taken into consideration as part of our company recommendations. We don’t get paid for our reviews

Our reviews and recommendations can help you find a reliable insurer for your family’s financial protection, but the best life insurance company for you depends on multiple factors. A licensed agent at Policygenius can support you during the application process to ensure you get the right coverage for your circumstances at the most competitive price.

Read more about our reviews methodology

The best term life insurance company for dentists is Legal & General America, which also does business as Banner Life and William Penn in some states. We like that Legal & General America offers policy terms up to 40-years and coverage amounts of up to $10 million — great if you’re a high earner.

What is term life insurance?

Term life insurance is the cheapest and most practical type of life insurance for most people. Here’s how it works: If you die during the time your policy is active — its “term” — your family receives a payment.

Best whole life insurance for dentists: MassMutual

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2024 Policygenius award winner

MassMutual

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.9

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A++

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

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$

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All 50 states

Why we chose itchevron icon

MassMutual’s whole life insurance plan provides a lifetime coverage option that builds cash value with the potential to earn dividends.

Pros and conschevron icon

Pros

  • Strong financial stability ratings

  • Higher potential for dividends for whole life policyholders than many competitors

  • Good customer satisfaction ratings

Cons

  • High term life premiums

  • Term life not available through Policygenius

MassMutual has the best whole life insurance for dentists, thanks in part to its high financial strength ratings. MassMutual received an A++ rating for financial stability from AM Best, which is especially important for permanent life insurance.

What is whole life insurance?

Whole life insurance might be right for you if you want to use your life insurance as an investment, or provide for dependents with lifelong needs. Whole life insurance never expires and comes with a cash value component that gains interest over time. If you’re already maximizing your contributions to tax-advantaged accounts like a Roth IRA or a 401(k) and are seeking another investment option, whole life insurance might work for you.

We found that Legal & General America has the cheapest life insurance rates for dentists. While you’re likely to find cheap rates from Legal & General if you’re in good health, you may also be able to find affordable coverage if you have a pre-existing condition, like diabetes or heart disease.

Best no-medical-exam life insurance for dentists: Brighthouse Financial

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2024 Policygenius award winner

Brighthouse Financial

Brighthouse Financial logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starFull orange star

5.0

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

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$

$

$

$

No-medical-exam option

Why we chose itchevron icon

Brighthouse Financial offers competitive rates, comprehensive coverage, and application decisions in as little as 24 hours, making it a great choice for people who want to get life insurance coverage without having to take the medical exam.

Pros and conschevron icon

Pros

  • Extremely affordable

  • Instant-decision applications

  • Best-in-class no-exam option

Cons

  • Traditional term life not available in CA, IL, LA, ME, or NY

  • Term life applicants limited to ages 25-50

Brighthouse Financial has the best no-medical-exam life insurance for dentists. If you’re in good health and can qualify for life insurance without a medical exam, you may be able to get up to $3 million in coverage — in as little as one phone call.

How does no-medical exam life insurance work?

You answer health questions by phone instead of in an in-person exam, then the insurance company reviews your answers to determine whether you’re eligible — it’s best for healthy applicants with few risk factors.

Best final expense life insurance for dentists: Mutual of Omaha

Mutual of Omaha

Mutual of Omaha logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.5

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A+

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

No-medical-exam option

Why we chose itchevron icon

Mutual of Omaha is a reputable company that offers a variety of life insurance products — including a no-medical-exam option — so that you can select the type of life insurance that best suits your needs.

Pros and conschevron icon

Pros

  • No-medical-exam options for older applicants

  • Strong financial and customer ratings

Cons

  • Policies are more expensive than average

  • Slow turnaround time

We found that Mutual of Omaha is the best life insurance company if you’re a dentist looking for final expense coverage. You can choose between two coverage levels depending on your health: up to $25,000 in coverage for simplified coverage or up to $40,000 for preferred coverage.

What is final expense life insurance?

If you can’t get standard life insurance coverage, final expense coverage is a good way to pay for end-of-life costs, like funeral and burial expenses. This type of coverage is permanent (meaning it lasts for the rest of your life) and usually offers a death benefit between $10,000 and $40,000.

Why dentists need life insurance

It’s worth having life insurance if you’re a dentist, but if you’re not sure about it, here are some of the benefits of private life insurance:

  • Replacing your income: If you die unexpectedly, life insurance can help replace your salary and allow your family to keep up with their expenses.

  • Paying off existing debt: Life insurance can help your family pay back debts like student loans so you don’t leave them to your loved ones.

  • Improving employer-provided coverage: You probably have life insurance through your employer, but this coverage by itself usually isn’t enough to take care of your family.

If you’re not sure about how much life insurance you need or what coverage is right for you, we can help.

How working as a dentist will affect getting life insurance

Being a dentist may lead to higher rates, but only because dentists tend to have high incomes, which means more coverage. By itself, being a dentist won’t affect your options for life insurance or lead to higher rates.

There are some exceptions, however. If you travel for work to some countries outside of the U.S. or are a medical missionary, your eligibility for life insurance could be impacted. 

Also, remember that any prescription medicine you’ve taken will show up on a prescription history check. When you apply, be honest and thorough with the agent you’re working with about medications you’ve taken. That way you apply with the right company and you don’t jeopardize your family being able to collect benefits after your death.

What do our licensed experts say?

“As a licensed agent, I’ve helped multiple healthcare workers apply for life insurance. In some cases, a medication they tried in the past affected their insurance offers — even if that medication didn’t represent their overall health." - Tory Crowley

When should dentists purchase life insurance?

The younger you are when you apply, the cheaper your life insurance rates will be. Later on, if you need more coverage, you can always ladder a supplemental policy.

If you’re a dentist or in dental school, you should get life insurance as soon as possible. “Dentists often begin their careers later in life due to the extensive education and training required,” says Cecil Staton, President & Wealth Advisor at Arch Financial Planning, LLC. “This delayed start can delay obtaining life insurance coverage.”

The total amount of coverage you can apply for is usually based on your income. But if you’re still in dental school, you can justify the amount you’re applying for with your projected future income.

How much does life insurance cost for dentists?

We found that the cost of life insurance for a dentist with one or two minor, well-managed health conditions is about $46 per month for a 20-year term life policy with a $1 million death benefit payout. 

That said, your exact premiums depend on several factors, including your gender, age, and health. If you have limited or well-maintained health issues, you’ll likely be able to get the coverage you need at an affordable rate.

Term life insurance rates for dentists 

Here’s what a dentist can expect to pay for a 20-year term life insurance policy with a $1 million death benefit payout.

Age

Gender

$1 million coverage amount

20

Female

$32.38

Male

$44.72

30

Female

$35.48

Male

$45.94

40

Female

$58.49

Male

$71.45

50

Female

$131.18

Male

$174.90

60

Female

354.88

Male

$500.52

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Methodology: Average monthly estimated rates are calculated for male and female smokers and  non-smokers in the Preferred health classification, obtaining a 20-year $1,00,000 term life insurance policy. Life insurance rates are based on policies offered by Policygenius from Brighthouse Financial, Corebridge Financial, Foresters Financial, Legal & General America, Lincoln Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, Symetra, and Transamerica, and may vary by insurer, term, coverage amount, health class, and state. Not all policies are available in all states. Rate illustration valid as of 01/01/2024.

Whole life insurance rates for dentists

Here’s what a dentist can expect to pay for a whole life insurance policy with a $1 million death benefit payout.

Age

Gender

$1 million coverage amount

20

Female

$545

Male

$639

30

Female

$801

Male

$920

40

Female

$1,161

Male

$1,372

50

Female

$1,826

Male

$2,117

60

Female

$3,065

Male

$3,556

70

Female

$5,580

Male

$6,198

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Methodology: Average monthly estimated rates are calculated for male and female insureds obtaining a whole life insurance policy of $1,000,000 from MassMutual. Life insurance rates are based on policies offered by Policygenius and may vary by insurer, term, coverage amount, health class, and state. Not all policies are available in all states. Rate illustration valid as of 01/01/2024.

Final expense life insurance rates for dentists

Here’s what a dentist can expect to pay for a $25,000 final expense life insurance policy.

Age

Gender

$25,000 coverage amount

50

Female

$74.47

Male

$98.96

60

Female

$105.21

Male

$140.69

70

Female

$158.19

Male

$215.16

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Methodology: Average monthly estimated rates are calculated for male and female insureds obtaining a final expense life insurance policy of $25,000 from Mutual of Omaha. Life insurance rates are based on policies offered by Policygenius and may vary by insurer, term, coverage amount, health class, and state. Not all policies are available in all states. Rate illustration valid as of 01/01/2024.

Life insurance for other occupations

Frequently asked questions

Should dentists get life insurance?

It’s a good idea to get life insurance if you’re a dentist. If you have large debts or any dependents, you should get life insurance to protect your loved ones. Term life insurance will usually be your best option if you’re eligible.

Do dentists have life insurance?

Most employers offer some life insurance to full-time employees as part of a standard benefits package. But it’s usually a much lower amount than what financial advisors recommend, it’s not a guaranteed benefit, and you lose the coverage when you leave that employer.

How much life insurance should a dentist get?

There’s not one amount of life insurance that every dentist needs. Your coverage depends on your personal financial needs, like how much you make, your debt, savings, budget, health, and other factors.

Authors

Tory Crowley is an associate editor and a former licensed insurance agent at Policygenius. Previously, she worked directly with clients at Policygenius, advising nearly 3,000 of them on life insurance options. She has also worked at the Daily News and various nonprofit organizations.

Andrew Hurst is a senior editor and a licensed auto insurance expert at Policygenius. His work has also been featured in The New York Times, The Wall Street Journal, Forbes, USA Today, NPR, Mic, Insurance Business Magazine, ValuePenguin, and Property Casualty 360.

Editor

Antonio helps lead our life insurance and disability insurance editorial team at Policygenius. Previously, he was a senior director of content at Bankrate and CreditCards.com, as well as a principal writer covering personal finance at CNET.

Expert reviewer

Ian Bloom, CFP®, RLP®, is a certified financial planner and a member of the Financial Review Council at Policygenius. Previously, he was a financial advisor at MetLife and MassMutual.

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