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Income Protection for Doctors

Doctors need income protection insurance as much as the other person if not more since doctors are at a risk of contracting certain diseases while on the job. Income protection for doctors offers 3 major benefits that are blood borne disease cover, needle stick cover and extended benefit period. Listed below are details of these 3 covers.

 

Blood Borne Cover

This cover protects doctors who have contracted an illness such as HIV or Hepatitis while on the job, from a patient. Insurance companies offer compensation payments to doctors for these diseases mainly because once a doctor contracts a transmittable disease he is not allowed to continue working as a doctor any more. The compensation payment given to the medical professional who has contracted an illness will depend on the type of cover and certain other important factors. Agreed value contracts offer the benefit of a guaranteed compensation payment to doctors where as indemnity contracts do not offer this benefit.

 

Needle Stick Cover for Medical Professionals

This cover offers financial protection to medical professionals that have contracted HIV, Hepatitis C or B due to a needle prick while working with a patient. This compensation payment is usually offered for doctors who contract HIV; however some insurers may offer compensation payments for other illnesses as well.

 

Added Protection – Extended Benefit Period

These days, insurers are offering an extended benefit period to certain professionals such as doctors. This extended benefit period offers financial protection to doctors till they are 70 years old. To enjoy these benefits, the policy must be active at the time of filing a claim. In most cases the extended benefit period is offered with costlier or better income protection insurance for doctors’ plans.


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Income protection is a crucial part of any comprehensive financial plan. If you’d like some help customising the correct policy for you, or want to know more about the income protection insurance benefits.