Doctors & Life Insurance
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Doctors & Life Insurance
As a doctor you have some of the best knowledge on how to have a healthy lifestyle and spot if anything is changing that you should get checked out.
When you apply for life insurance most insurers will ask you a number of health questions as part of your application. You are probably in a better position than most people to know how to answer these questions
However insurers can view health changes differently to the medical world and it can sometimes be strange to see this. We are here to make sure that you understand each step of the process when arranging your life insurance.
In regards to your work we will ask you:
- What is your occupation?
- What are your work duties?
- If you work in the NHS, have you contracted out of the pension scheme?
- Do you ever work abroad as a doctor?
- How long are you outside of the UK working as a doctor each year?
- Which countries do you work in as a doctor?
A really important extra for you to check is if you get any death in service cover from the NHS. We have spoken to clients who have contracted of their pension scheme and later found out that they no longer get death in service cover. If you are unsure at all please speak with your Human Resources officer who can confirm this to you, it’s better to check and know exactly what you’re entitled to as soon as possible.
Life insurance is generally available at standard terms with most insurance providers if you are a doctor. This means that you should be able to get life insurance at normal premiums without your occupation affecting the price.
If you travel abroad as part of your work regularly this can alter your options for life insurance. The cost of your life insurance will depend upon the countries that you travel to and the work that you will be doing whilst you are there.
Our advisers are here to help you find the right insurer to match your circumstances, to get you the best terms possible.
Doctors & Critical Illness Cover
Critical illness cover pays out a cash lump sum of money, if you are diagnosed with a medical condition that is listed in the insurer’s claims set e.g. cancer, heart attack, stroke.
Critical illness insurance for doctors is typically available at standard terms with most insurance providers in the UK. Most job duties of doctors are seen as absolutely fine by insurers and not risky when it comes to critical illness insurance.
You should be able to get normal premiums for your critical illness cover.
Our expert advisers will find the right critical illness policy to match your work.
Doctors & Income Protection
Income protection pays you a replacement of your monthly income, if you are unable to work due to ill health.
Income protection policies for doctors should be available from most insurance providers in the UK. There are even some insurers that do specific perks for doctors when it comes to income protection.
Income protection are priced based upon the monthly benefit, the policy’s end date, how long the claim will last for, and the waiting period before the insurance kicks in.
This is particularly important for doctors in the NHS, as you likely have a good sick pay package. Typically, NHS employees receive six months of full pay followed by six months of half pay when sick. Your income protection should align with this benefit to avoid overpaying for coverage.
The quicker that you get the insurance supporting you, the more expensive it is. Some insurers specifically want to say thank you to doctors for all of the hard work that they do. It’s very technical to discuss so I won’t go into all the details here, but essentially some insurers will charge you less and mirror your 6 month and 12 month sick pay better than others.
Our advisers recommend income protection for people every day and we will be able to let you know exactly what you can have. Get in touch today for a no obligation quotation.
Doctors & Travel Insurance
We work alongside a specialist travel broker to get you the travel insurance that you need. It is even more important to make sure that seek advice if you are regularly travelling outside of the UK to see your clients. To find out more, please visit our travel page here.
Example Occupations
- Anaesthetist
- General Practitioner (GP)
- Gynaecologist
- Paediatrician
- Psychiatrist
- Surgeon
Possible Risks
- Back pain
- Burnout
- Exposure to hazardous materials
- Infectious diseases
- Needle stick injuries
- Physical assault
- Stress
Occupational Duties
-
- Administering medicine
- Assessment and treatment of patients
- Conducting ward rounds
- Giving anaesthetics/pain relief
- Prescribing medicine
- Shift work
- Teaching/training
Client Reviews
Cura Financial Services has been rated 4.9 out of 5 based on 800 reviews.
Review by Olufemi on 13th August 2024
“Excellent service. A very good, friendly customer service.” - 5
You can read more of our reviews here.
- For more information on specific health conditions, pastimes, occupations and countries please select here:
Dr Kathryn Knowles Phd
Author
This page was written by Dr Kathryn Knowles Phd, an award-winning insurance adviser. To read more about Kathryn please see her bio here
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