“The one protection policy every working adult in the UK should consider is the very one most of us don’t have – income protection.” Which? 2014
What is doctor’s sickness insurance?
Income protection insurance for Doctors and Surgeons is cover designed to help you maintain a level of income, and hence your lifestyle, in the event of being unable to do your own job.
Whether employed by the NHS, a private practitioner or both, income protection provides short & long-term earnings protection that you need: This is a key financial product which hedges you against the risk of being unable to do your own job in the event of ill health or disability.
With an income protection plan your earnings can be covered all the way up until you plan to retire.
Do I need it?
For most doctors and surgeons, it is important to have a quality income protection insurance policy in place, where, occupational risks in your profession are numerous. If you are the sole bread winner in your family also, then this is going to form an important part of your financial plan, but, it must be structured properly to be effective.
In the event that you could not do your job for a protracted period of time, or indefinitely for that matter, could you maintain your lifestyle, if you suffered a total loss of income?
As an example, a back, neck or hand injury may prevent you from carrying out your normal occupation and, if signed off by a consultant, would then trigger the policy to pay out.
Specialist income protection for doctors
As specialist brokers, we will be able to recommend a bespoke income protection policy catered to your profession and circumstances: It is important to seek expert help from a chartered financial adviser to find the right cover for you, tailored to fit in with your holistic financial circumstances and life goals.
Getting own occupation cover
It is particularly important, given the level of skill required in your role as a Doctor, that your income protection insurance policy covers you in your own occupation.
Want further information?
Perhaps the most important advice I give to my clients is to plan carefully and do not leave things to chance. My job is to help you grow and protect your assets by providing the know-how you need to make informed decisions about your future. I then help you implement the strategy into a reality by working with you over the long term, helping you to build, brick by brick, a successful and robust financial situation.
Get in touch to discuss your bespoke income protection requirements.