Life Insurance for Doctors
Can you take out a Life Insurance policy if you are a Doctor?
Yes you can!
There are many reasons why you might be looking for doctors life insurance. You might be looking for additional financial support to protect your family or need an income protection plan to guard against a worst-case scenario. We’re here to help you find the right life insurance policy for your needs.
Why choose
The Insurance Surgery
- Voted Best life and protection broker 2022
- Rated 5* on Trustpilot and Feefo
- Access to high street and independent insurers
- 20 years’ experience & price match promise
Working with insurers across the UK
Life insurance is open to anyone in any sector. We regularly talk to those in the medical profession searching for a specific doctor’s life insurance policy because they know better than anyone how quickly your health can deteriorate if you are diagnosed with a medical condition.
At The Insurance Surgery, we specialise in matching people to the right insurers.
Our relationships with insurers across the UK mean that we know who to talk to when you are searching for a life insurance provider or income protection policy.
Searching online may be convenient, but are you sure you’ve found the right provider to match your needs? We believe life insurance policies are more complicated than simply choosing the cheapest premiums. Instead, it’s about finding an insurer who understands your lifestyle and what cover you need to protect your loved ones. After all, you and your family deserve protection from an insurance policy that will pay out when needed.
Our access to high street and independent insurers means we can find the right life insurance provider or income protection policy for you.
Life Insurance for Doctors
Life insurance for doctors
In terms of specific life insurance policies, there’s no singular doctor’s life insurance policy. That’s because life insurance is available to almost anyone.
When you take out a life insurance policy with us, a core part of our conversation will be focusing on what financial protection you already have. For example, if you work for the NHS and you contribute towards an NHS pension, you will likely be eligible for a ‘death in service’ benefit. This means that your loved ones will receive a lump sum if you pass away before retirement age.
Similarly, if you were diagnosed with a serious illness, the NHS offers a generous sick pay policy that could cover your bills and living costs until you are fit enough to return to work. In which case, you might not need a complementary critical illness or income protection policy to match your life insurance plans.
But we know that everyone is different.
Your medical training means that you know exactly how quickly your health can change, which is why so many doctors ask us to provide them with a life insurance quote.
Our approach is to ensure you have everything you need in place, so your loved ones can benefit from lasting financial protection.
A bespoke approach to doctors’ life insurance
Doctors have been coming to us for life insurance for years because they know we will always look out for their best interests.
We take the time to learn about you and what kind of financial security you need. Choosing a life insurance policy should never be about finding the lowest possible premium (although we promise you won’t find a better deal elsewhere).
Doctors trust us to help them find life insurance because we put a lot of effort into finding an insurer who will look out for your best interests. Doctors trust us to help them find life insurance because we put a lot of effort into finding an insurer who will look out for your best interests. We will always do our utmost to suggest a life insurance provider that has a history of paying claims quickly and is willing to cover you even if you have a complicated medical history”?
One reason we prefer to talk about your life insurance quote over the phone is to look at your personal situation and medical history to develop a policy that fits your needs. We’ll figure out what kind of financial protection you already have and how much more you need to keep your family safe and their quality of life high.
As a doctor, you know how important it is to talk to your patients about complicated medical issues in a way they can understand.
We take the same approach.
We never think you know everything there is to know about life insurance.
During our first conversations, we’ll explain any policy language and ensure you understand how your life insurance policy will protect you and your loved ones. Then, we’ll discuss your family history and help you find a policy that pays out how you want it to. For example, you might want a life insurance policy to ensure your children have a certain standard of living. Or you might want any possible payment to go to a specific person as an inheritance.
We can help you with all of this and much more.
Our dedicated life insurance experts are here to answer all of your questions. We want you to feel like you have all the information you need to choose the right life insurance policy for you.
Are doctors considered a high-risk occupation?
Insurance premiums depend on a wide variety of factors. For example, life insurance costs may depend on your age, health, previous medical history, preferred cover level, and occupation.
As a doctor, you might question whether you could be considered a high-risk occupation. After all, you’re working on the frontline, helping others to improve their own health, often with little to no PPE.
Many insurers may use computer algorithms to create life insurance quotes based on your occupation. But our trained life insurance experts understand the many nuances within the broad description of “doctor.” For example, some doctors may work heavily with patients in clinical frontline roles, while others may work in a supportive environment such as a laboratory.
When you talk to us about your doctor’s life insurance, we might ask you questions about your job role so we can analyse your level of risk. For example, we may need to know the following:
- Are you ever at risk of physical injury?
- Are you exposed to any infectious illnesses or diseases?
- Do you regularly work with chemicals?
- Do you work night shifts?
- How many hours per week do you typically work?
We’re genuinely interested in what you do. We find it fascinating to talk to people about their jobs. It helps us understand your needs, and this knowledge helps us identify the right insurer and premium for you.
What does life insurance for doctors cover?
Life insurance protects your family financially if you pass away or are diagnosed with a terminal illness and are told you only have a year to live. Many doctors choose to get life and critical illness insurance to protect their finances if the worst happens.
If you’re looking for a combined policy, let us know. We can find policies that work together to give you the most protection for the least amount of money.
Life insurance for doctors has many advantages.
- It can top up any eligible death-in-service benefits.
- It assures you that your loved ones will be financially protected.
- You can simultaneously protect yourself with critical illness policies or income protection plans.
- You can set aside specific amounts of money to provide an inheritance for your loved ones.
- Any life insurance payout will be tax-free.
- Your loved ones can use the money for various reasons, from paying the mortgage or rent to maintaining a high standard of living or having money set aside for future family costs.
Whatever the circumstances, our team of expert life insurance advisors is always on hand to protect you and your family. As well as working with you to find an affordable life insurance policy, we promise to help your loved ones if they need to make a claim. Our end-to-end support is about making a difficult process easier, whether through discussing your policy details, finding the right forms, or helping your loved ones submit any paperwork.
Income Protection for Doctors
Income Protection for Doctors
Doctors work incredibly hard, and our NHS wouldn’t function without the tireless efforts of doctors and nurses.
We appreciate and value the work that you do.
If you work for the NHS, there is a generous sick pay policy that could provide as much as six months full pay and six month’s half pay for those deemed medically unfit to work. While this is generous, the entitlement (which is set out by Agenda for Change) depends on your length of service.
If you were to fall ill or be injured in an accident and could not work for a period, would you be able to pay your bills? If you’re not eligible for the NHS occupational sick pay, you may find that taking out an income protection policy could provide you with peace of mind.
An income protection policy could give you a steady income until you could return to work, but it would also protect your savings. Worryingly, a whopping
(Source: LV=, Reaching Resilience Report, January 2023)
Even though your savings might be enough to get you through the short term, what would you do if you got sick or hurt and could never return to work?
We all like to think about the future and make plans.
But most of us think about the future in terms of when we can move up in our jobs or when we can save enough money to buy our dream home. Usually, it’s not about how you would make money if you couldn’t work.
We are experts at planning for the worst-case scenarios at The Insurance Surgery. That’s not because we always see the glass as half empty. Not at all. In fact, we are always upbeat and positive in how we do things.
But we know what’s realistic.
We focus on risk management and do whatever it takes to protect you and your family from the unexpected.
Our income protection plans for doctors are designed to give you peace of mind that your finances will be taken care of in almost any situation.
How does Income Protection for Doctors work?
Income protection will cover you for a wide range of physical and mental illnesses. For example, if you get hurt and can’t work, your income protection plan will give you an income, so you do not need to worry about your finances.
A doctor’s income protection policy usually covers 50–70% of your monthly salary. This will give you some extra money and much-needed breathing room to pay your bills and other living costs. In addition, as income protection is a private insurance plan, it can pay out at the same time as any occupational sick pay policies from your employer.
If your health keeps you from working, your salary protection insurance will pay out until you return to work. If you can’t go back to work because of your health, your salary protection insurance could pay you every month until you reach retirement age. Alternatively, it will continue to pay until the policy’s term ends.
You can also file as many claims as you need as long as your policy is in effect. For example, perhaps you break an ankle playing football and cannot work for three months, then a few years later, you’re diagnosed with an illness and need to take time out of work to recuperate. In both scenarios, your income protection plan would pay out.
When you buy income insurance from us, one of our helpful advisors will review all the policy details with you to ensure you have the right level of protection. We can talk about whether you are eligible for any sick pay policies within the NHS and find a solution that considers any existing financial protection. For example, if you know that you will no longer receive full pay after six months, we can put off any income protection payments until your pay goes down. We’ll also talk about your current expenses and how much money you want to make, and we’ll find a way to pay for your minimum costs.
Our income protection experts will never assume you know what to look for in salary protection. Instead, we always take the time to talk to you in person about your choices and figure out how to keep you and your family financially safe.
For us, income protection is all about managing risks. It’s about mitigating any risks and giving you confidence that you will always be able to pay for your basic living costs and retain financial independence.
We genuinely hope you never need to claim your income protection insurance.
But we also hope you feel financially protected for the rest of your career.
Frequently Asked Questions
We answer your most frequently asked questions.
Yes, you can buy more than one policy at the same time as a life insurance plan. Life insurance will pay out if you die or are diagnosed with a terminal illness. A critical illness policy, on the other hand, will protect you financially if you get sick and can’t work because of it.
If you buy an insurance policy from The Insurance Surgery, our team will give you unbiased advice to help you figure out how much coverage you and your family need
There are no specific life insurance policies for doctors, but if you want to make sure your family has money after you die, you may want to get a plan.
Life insurance is available to almost everyone, no matter what they do for a living. It gives money to your family if you pass away or are diagnosed with a terminal illness. Death in service benefits may be available to many doctors in the UK who work for the NHS and pay into an NHS pension. But the amount you get may depend on how long you worked for the company. A private life insurance policy can pay out on top of any death in service benefits from your employer, giving you more financial protection.
Income protection typically protects your salary income if you were unable to work through illness or injury. Most plans that protect your income will cover between 50 and 70% of your monthly salary.
If you work for the NHS, there is a generous occupational sick pay policy in place which was set by Agenda for Change. At its maximum, you could receive six months full pay, followed by six months half pay. However, this depends on how long you have worked for the NHS.
You might want to take out an income protection plan to protect your finances, especially if you don’t know if you’re eligible for the NHS occupational sick pay scheme. An income protection plan could also pay out until retirement age (or until the end of the policy term) in the rare instance that you are medically unfit to return to work.
Getting a policy for life insurance, critical illness, or income protection could be a good way to help your family. If you get sick or hurt and can’t work because of it, these policies will pay out. It lets you keep your finances stable and can make things easier on your family.
With a life insurance policy, you can make sure your loved ones have money set aside in case the worst happens. You can use this money to help secure your family’s financial future or pay for any funeral costs.
In the UK, the maximum amount of statutory sick pay is £109.40 per week for up to 28 weeks. Income protection is a good insurance plan for people who want to know that if they get sick or hurt and can’t work, their money will be safe.
Most income protection plans will pay between 50 and 70% of your salary each month until your doctor says you are healthy enough to go back to work. If you can’t go back to work, your income protection plan will keep giving you money until you retire or until the end of your policy term, whichever comes first.
You might be able to get death in service benefits if you work for the NHS. But the amount you get may depend on how long you worked there and how much you put into your pension. You might want to get a personal life insurance plan from a private company. This will give you more protection and give your family more money security.
When choosing a private life insurance policy, you should think about how much money your family would need to keep living the way they do now. You should also think about whether you want a policy that covers your whole life or just a certain number of years. You can even decide if the money should come all at once or on a regular schedule.
Please talk to one of our trained life insurance experts so they can help you find the right insurance policy and the right level of coverage for you and your family.
Different life insurance providers have different strengths and weaknesses. There is no one “best” insurance company, but we work closely with insurers all over the UK, so we know who to talk to about getting customised quotes for life insurance.
Before deciding on an insurance company, we take the time to get to know you, your medical history, your hobbies, and what you do for a living. By matching you to someone who understand who you are as a person, we can feel confident that we’ve found the best life insurance policy for you.
Our customers love us.
Would recommend using this service
Tom has been incredibly helpful throughout the whole process of getting my life insurance set up. Very knowledgeable and absolutely ‘on it’ to get me the best product out there.
Mat Wise
First Class Experience
Service was first class, Simon kept me informed at every step in the process.I would have no hesitation in dealing with him again.
Duncan Fordyce
Great, Quick Service
Dealt with Karl who could not have been more helpful. Made the whole process of getting life insurance far easier than other providers I had approached.
Shelley Jenkins
Fantastic!
Approved immediately. Process was so fast and a lot cheaper than I thought. Highly recommended.