A 2017 report released by the National Association of Dental Plans indicates that 74 million adults and children in the United States were without some form of personal or group dental coverage during the 2016 calendar year. Since having coverage tends to encourage people to have annual checkups and go in for routine dental work, that means there is a significant segment of the population that is likely not seeking treatments they need.
Fortunately, dental financing can make a difference for those without any type of coverage. The goal is to find accessible financing options like medical loans or lines of credit. The right approach will provide a number of advantages that make receiving dental care easier. Here are some qualities that you want with the financing of your choice.
Low Down Payments
Just about any type of dental financing plan will require some sort of down payment. While some may come with fixed down payments, those are more likely to be more difficult to cover out of pocket. The plans with more accessible financing options are likely to require a down payment of no more than 15% of the total cost of the procedure.
Coverage For All or Most Dental Conditions
When evaluating the merits of any plan, do find out how comprehensive the coverage happens to be. Will the financing extend to just about any type of dental issue that one can imagine? For example, would the financing apply if you needed emergency dental surgery as well as help with the costs of routine dental care? You would do well to choose a lender who provides accessible financing options that will help you manage the expense of any type of dental situation that could arise.
Greater Focus on Ability to Repay and Less on Your Credit Score
Some lenders will take one look at your current credit score and make a decision based on that information. Simply put, if your score is under a certain amount, it doesn’t matter that you have stable employment and earn enough each month to make the payments. Those lenders are not for you.
A better approach is to work with a lender who looks beyond the credit score. Lenders of this type will look at the details of your reports and take into consideration the fact that while you did have some credit issues several years ago, your record since then has been quite good. They are likely to offer the sort of accessible financing options designed for people with less than perfect credit, and who are also working to move past old issues and regain a higher credit score.
Quick Evaluation and Response to Applications
Did you know that the better lenders who offer exemplary accessible financing options can often review applications in real time? That means you could submit an application while in the dental office and have an answer in a matter of minutes. This certainly helps if you would like to schedule the procedure as soon as possible.
Excellent Customer Support for the Duration of the Loan
Always find out how well the lender does in terms of providing customer service and support for the duration of the financing. If you have any type of question or want to go over some aspect of your loan, knowing you can reach someone who can help makes a huge difference.
There are estimates that indicate as many as 60% of patients who need dental care but do not have insurance will go without any type of treatment. When a dental professional provides their patients with accessible financing options that can be used to cover the total cost or at least work in tandem with dental insurance, the odds are that most of that 60% would gladly have the work done. Start comparing financing options today and see what you think. In less time than you thought possible, you could be on the road to having the beautiful smile you’ve always wanted.