Doctors Income Protection – Accident & Sickness or Illness Insurance Cover for Doctors

Doctors receive sick pay on a sliding scale from the point NHS employment starts and the full sick pay entitlement is not reached until after 5 years of service.

The NHS sick pay entitlement is as follows:

0 – 3 months service = No sick pay.

3 – 12 months service = 1 month full pay & 2 months half pay

Year 2 – 2 months full pay & 2 months half pay

Year 3 – 4 months full pay & 4 months half pay

Year 4 – 5 months full pay & 5 months half pay

After 5 years – 6 months full pay & 6 months half pay

Even after 5 years service the maximum benefit will only pay for 12 months and half of that will be at half pay only.

In the event of a long term illness this simply isn’t adequate which is why income protection that will provide Doctors with cover against sickness or accident is an essential consideration.

Income protection policies usually have a defined ‘deferment’ period which means after a claim, the benefit starts being paid after the deferment period ends.

Having a fixed deferment period is not suitable for Doctors due to the sliding scale of the NHS sick pay entitlement but income cover is available, from select providers, that is tailored specifically for Doctors.

This allows Doctors to claim as soon as their NHS sick pay stops.

In addition to which there are certain other benefits that come with a tailored accident & sickness income protection policy that will appeal to Doctors such as:

1/ Increase Option – increase the amount of cover every 3 years with no additional underwriting.

2/ Sabbatical Cover – take a sabbatical for up to 1 year and keep the full benefit of the cover.

3/ Worldwide Cover – enables Doctors to work in any county in the world and still keep their cover as long as they are away (certain less developed countries may restrict this to 2 years) 

4/ Proportionate Benefit – Doctors may be forced to go back to part-time work after an illness and a proportion of the benefit may still be payable to help with reduced earnings.

Not all income protection policies are the same but most are not flexible enough to accommodate the needs of Doctors.

This is why it makes sense to discuss the options available with a specialist who has access to products that are specifically designed to meet the requirements of NHS Doctors.

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