The Product

No apologies for the fact that this review will focus more on the problem than the solution, so here goes. There are almost a quarter of a million doctors on the General Medical Council’s (GMC's) register and, over 40% are female (the group that has traditionally had to pay much more for income protection cover). Most (over 155,000 as at September 2012) were aged under 46, so therefore ideal candidates to have income protection (IP) cover.

However, writing IP has always been a bit of a nightmare. One reason is that how much sick pay the NHS pays a doctor depends on how long they have been employed by the NHS. Over their first five years, a doctor will get full pay for one month followed by half pay for two months in their first year, rising to five months for both after four years and six months for both after five years. That has often meant having to choose the ‘wrong’ deferred period at outset or else changing the deferred period over time. Neither is a satisfactory solution.

PruProtect has introduced a deferred period for doctors that now automatically changes over time, in line with the NHS sick pay structure. It has also produced a useful sales aid to explain it all, which includes a frequently asked questions section.

The option only applies to NHS employed doctors (so care needs to be taken when using portals or even PruProtect’s own quotes system). Self-employed doctors and the private income of other doctors is therefore outside the arrangement.

Otherwise, PruProtect’s normal Income Protection Cover rules and benefits apply. That includes up to £2,000 of specialist care and support, a two-month back to work benefit, extra income for a permanent disability and guaranteed income if verified at outset.