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Income Protection for medical professions

People in medical professions aren't immune to ill health and accidents that could stop them from earning. That's why we've made it easier for you to recommend Income Protection to your clients who are doctors, surgeons and dentists.

NHS sick pay guarantee for Doctors, Surgeons and Dentists

Unlike other sick pay guarantees in the market, you don't have to be employed directly by the NHS to be eligible. This means clients working in occupations covered by NHS sick pay but not directly employed by the NHS can also be covered, like GPs.

Under our guarantees, as long as your client chooses a 12 month waiting period we'll pay out to fit alongside their sick pay arrangements. This helps:

  • reduce the premium by removing the need for complex split waiting periods
  • remove the risk of over and under insurance
  • ensure your client gets their money when they need it

This sick pay guarantee only applies to the income your client earns from the occupation that is covered by NHS sick pay. Any other income your client receives, which is not part of their NHS sick pay entitlement, is not covered within this sick pay guarantee.

Length of NHS service

LV= Sick Pay Guarantee 50% of monthly benefit after...

LV= Sick Pay Guarantee 100% of monthly benefit after...

During the first year of service

1 month

3 months

Second year of service

2 months

4 months

Third year of service

4 months

8 months

During the fourth and fifth year of service

5 months

10 months

After completing five years of service

6 months

12 months

To qualify, at claim your client needs to be a doctor, surgeon or dentist who is:

  • Registered (or provisionally registered) with the General Medical Council or the General Dental Council

And

  • Licensed to practice as a doctor, surgeon or dentist in the UK

Working Abroad

If your client is considering working abroad, we can offer flexibility. Your client can still maintain their cover, and we won't cancel their policy as long as there was no intention to permanently move overseas when their policy was taken out. Your client can claim whilst abroad if they have a registered UK bank account. We'll only restrict a claim if it comes from outside of Europe, USA, Canada, Australia or New Zealand, where we'll only pay for a claim for a maximum of 26 weeks.

Doctors & Surgeons: £3,000 Benefit Guarantee

We don't like the idea of your clients not getting what they paid for. So, we've introduced the LV= £3,000 Benefit Guarantee. It's available to doctors and surgeons who are licensed and registered to practice in the UK with the General Medical Council.

With our £3,000 Benefit Guarantee, no matter how much your client's income may have dropped when they come to make a claim (as long as they're working at least 32 hours a week), we guarantee to pay them at least £3,000 a month. If they choose cover of less than £3,000 a month, then we guarantee to pay the level of cover they chose, minus any continuing income they’re still receiving. This is explained further in Appendix 1 of the policy conditions.

This guarantee aims to protect your client against a genuine drop in income after they take out the policy. And because we won't deduct anything if your client receives state benefits, they'll get that money on top of what we pay them too. However, payments from this policy may affect their eligibility and amount they can claim for some state benefits.

Doctors & Surgeons: Sabbatical Break cover

Our sabbatical break cover allows your client to take an extended break (up to two years) away from their role to study or work abroad. As long as your client continues to pay their premiums, we'll treat them as if they were working in their normal role, and they'll keep their normal level of cover, own occupation and definition of sickness.

  • The sabbatical was approved by their employer

And

  • Their job was kept open for them

Please note your client is unable to benefit from sabbatical break cover within the first 12 months of their policy starting.

Do LV= class a junior doctor training in surgery as a surgeon?

We'll always base our premiums on your client's formal job title at the time of their application. So unless someone is fully qualified as a surgeon and that's their formal job title, they will qualify for doctor's rates.

No HIV/AIDS exclusion

Doctors and surgeons are often exposed to the risk of needlestick. And whilst the risk is small, you and your client can be reassured to know that we don't have exclusions for HIV or AIDS.

Key Documents

Online Services

Risk Reality Calculator

Highlight to your clients why financial protection is important using industry statistics in our Risk Reality Calculator.

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Flexible Protection Plan

Why not add Life cover or Critical Illness to your client's plan for a wider protection portfolio?

More about Flexible Protection Plan

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Tools and Calculators

Everything you need to support your Income Protection recommendations.

Income Protection tools and support

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Personal Sick Pay

Income protection for clients in riskier jobs who can be more expensive to insure.

More on Personal Sick Pay

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Large Case Team

If your client wants cover for more than £5,000 a month, we can offer dedicated support.

More about our Large Case Team

FOR UK FINANCIAL ADVISERS ONLY
LV=, County Gates, Bournemouth, BH1 2NF, UK