Canadians become more educated about the need for dental insurance, advisors will need to up their game as well
More and more Canadians are starting to seek out dental coverage, meaning advisors need to prepare to make sure they have the answers they need.
“If you’re an advisor out there, you really need to brush up on what your dentists are charging locally because there’s no set amount they charge,” said Gavin Prout, Vice President at Special Benefits Insurance Services.
“Each dentist is actually allowed to charge whatever they feel their services are worth and each area is going to be a little bit different. If a client is calling in from an area like London or Windsor it’s going to be a little less expensive than if it comes from downtown Toronto.”
Nearly 40% of the population have gaps in coverage because of a lack of supplementary health insurance benefits. In Ontario, research found about 35 per cent of employees don’t have dental or medical coverage through their employer.
The picture is much bleaker for low income earners with about 85% of people who earn less than $10,000 receiving no workplace health benefits, and about 70% of those earning between $10,000 and $20,000 are not covered.
Prout is finding more Canadians are aware of these coverage gaps and are calling for help.
“For the most part I think the individuals are now being a little bit more educated with regards to dental coverage and what they are and what they aren’t covered for,” he said. “What we find is these individuals who are calling us are aware of their needs. They want us to guide them in a direction as to what certain things cost and how much coverage am I going to need.”
For some people, the notion that they can pay out of pocket for dental is appealing, but Prout recommends that advisors tell prospective clients the potential pitfalls to that kind of thinking.
“People aren’t fortune tellers and therefor it might seem like a great idea, I’m only looking for dental insurance now, I don’t need any other cover, I’m willing to pay out of my pocket,” he said.
“But the second something major happens and all of a sudden you’re looking at a root canal or a crown or a bridge you start thinking I’m going to get dental insurance, unfortunately 95-99.9% of the plans don’t cover those major services until the third benefit year. Now you’re back two years waiting for this and you’re in pain, you can’t afford it.”
It’s also important for advisors to remind clients that good dental health also leads to good long term health.
“You need to get to the dentist because it affects your overall health because it just doesn’t affect your teeth,” said Prout. “It can lead to diabetes; it can lead to other significant diseases.”
“If you’re an advisor out there, you really need to brush up on what your dentists are charging locally because there’s no set amount they charge,” said Gavin Prout, Vice President at Special Benefits Insurance Services.
“Each dentist is actually allowed to charge whatever they feel their services are worth and each area is going to be a little bit different. If a client is calling in from an area like London or Windsor it’s going to be a little less expensive than if it comes from downtown Toronto.”
Nearly 40% of the population have gaps in coverage because of a lack of supplementary health insurance benefits. In Ontario, research found about 35 per cent of employees don’t have dental or medical coverage through their employer.
The picture is much bleaker for low income earners with about 85% of people who earn less than $10,000 receiving no workplace health benefits, and about 70% of those earning between $10,000 and $20,000 are not covered.
Prout is finding more Canadians are aware of these coverage gaps and are calling for help.
“For the most part I think the individuals are now being a little bit more educated with regards to dental coverage and what they are and what they aren’t covered for,” he said. “What we find is these individuals who are calling us are aware of their needs. They want us to guide them in a direction as to what certain things cost and how much coverage am I going to need.”
For some people, the notion that they can pay out of pocket for dental is appealing, but Prout recommends that advisors tell prospective clients the potential pitfalls to that kind of thinking.
“People aren’t fortune tellers and therefor it might seem like a great idea, I’m only looking for dental insurance now, I don’t need any other cover, I’m willing to pay out of my pocket,” he said.
“But the second something major happens and all of a sudden you’re looking at a root canal or a crown or a bridge you start thinking I’m going to get dental insurance, unfortunately 95-99.9% of the plans don’t cover those major services until the third benefit year. Now you’re back two years waiting for this and you’re in pain, you can’t afford it.”
It’s also important for advisors to remind clients that good dental health also leads to good long term health.
“You need to get to the dentist because it affects your overall health because it just doesn’t affect your teeth,” said Prout. “It can lead to diabetes; it can lead to other significant diseases.”
