Life Insurance and Income Protection for Doctors

Whether you are a doctor, dentist, nurse, or any other type of medical professional, you are exposed to unique risks in the workplace. As someone that has dedicated their lives to improving the health of others, you would have a unique appreciation for the fragility of ones health and the impact that illness and injury can have on a family.

Life Insurance, disability insurance, income protection and trauma insurance all offer varying forms of protection against unforseen injuries and illnesses.

Income protection serves to protect your most valuable asset, your income. Your income is what you rely on to survive. As a result, if you were to suffer from an illness that prevented you from working, the consequences are potentially dire.

Enquire Now

Insurers we work with

Income protection typically allows you to insure up to 80% of your gross monthly income (this is your maximum monthly monthly benefit.) You will begin to receive your monthly benefit once you have been unable to work for a pre-determined amount of time (the waiting period.)

Waiting periods range from as little as 14 days to as long as 2 years. The most common waiting periods are 30 and 90 days. You will be in receipt of this monthly benefit until you return to work or your benefit period finishes. Medical professionals can typically take out income protection insurance with a benefit period that lasts until you turn age 70.

As well as this, there are policy features that are specifically available to medical professionals like yourself. An example of this is the needlestick benefit that is often included with income protection policies. There are over 18,000 reported cases of needlestick transmitted diseases every year in Australia. As a result, it is one of the biggest occupational health risks that medical professionals face.

Needlestick cover provides a lump sum payment to you upon diagnosis of occupationally acquired Hepatitis B, Hepatitis C or HIV. Generally, these diseases do not have to be contracted directly as a result of a ‘needlestick’ injury. Many insurance companies will pay you a lump sum if the disease results from a needlestick, a scalpel injury, blood contact via a cut or abrasion and even a blood splash to the eyes.

Most income protection policies will provide you with an upfront payment of the lesser of 50 times the monthly benefit or $1,000,000. This payment is in addition to any monthly benefit that you would recieve by being off of work do to the blood borne disease you have contracted at work.

Interested in learning more? Talk to an expert!

Talk To An Expert

What are some of the fundamental products and features you be aware as a medical professional?

Income Protection Insurance – Rarely is a medical professional’s insurance portfolio complete without Income Protection insurance. As the cost of living in Australia continues to rise, we are more reliant on our income than ever before. Income Protection insurance will ensure that your income continues while you are unable to work due to injury or illness. This benefit allows you to maintain your lifestyle despite that fact that you are unable to work.

It is very important to look out for a capability clause when assessing your income protection needs. Capability clauses allow an insurer to reduce your claim based on the amount of time you are capable of working as opposed to what you are actually working. The reason this is of particular importance to doctors is because there are a number of specialties where it is particularly hard to find patients when you are unable to work full time. Get in touch with one of our advisers today to find out how this could impact you.

Business Expenses Insurance – If you run your own practice, have you considered how the businesses ongoing financial obligations will be met should you be unable to work? Business expenses insurance does exactly that, it will cover your fixed expenses while you are unable to. It allows for you to keep the lights on while you decide what to do next.

It affords you the possibility to bring in the locum that is best suited to your practice and patients. It is similarly important to look out for a capability clause when comparing business expenses insurance.

Trauma Insurance – As a doctor, you’ve seen it all. You’ve seen how catastrophic the diagnosis of a critical medical condition can be and the impact it can have on the lives of those involved. No one can appreciate the importance of trauma insurance more than doctors, nurses and fellow medical professionals.

Trauma Insurance provides you and your loved ones with capital that is intended to provide you with a buffer at what would be a very tough time. It provides you with the peace of mind that not only will you have no financial worries during your illness, it also provides you with the freedom to seek out the most appropriate medical advice regardless of the cost.

Our claims testimonials

Excellent

Curo Financial Services

Based on 11 reviews

See all reviews

review us on

Cherie Haig

It has been my pleasure to deal with Brent and his team over the years I have been their client. All queries have been explained promptly, intricacies of policies and decisions I contemplated explained, and the level of service Brent has provided exceeds 5 stars.

Jen W

Brent from Curo Financial Services has exceeded our expectations and has been a pleasure to deal with. Brent is professional, trustworthy and provides excellent service that goes above and beyond. Brent is compassionate, kind, and caring. Brent has always had our best interest at heart and really takes the time to ensure you feel supported. Brent has made the process of dealing with insurance easy and has made it a positive experience. Brent is a pleasure to work with.

Justin Fitzgerald

We dealt with Brent and he was an absolute pleasure to work with. He supported us in a very caring compassionate way at a time where we were very stressed.
Brent went above and beyond and his customer service was impeccable.
Thankyou for making a difficult time seem not so difficult.

Vicki Taylor

Thank you Curo Financial Services for providing me with friendly, professional services, I am very grateful especially to Behram Ali. Would highly recommend their professional services.

Mark Crimmins

It is my absolute pleasure being able to write this glowing review about Brent and his team.
Brent and I have known each other for many years with Brent advising me where needed on my income protection policy. Throughout that time Brent has been very thorough in keeping me updated with any changes within the industry and how that may affect my extremely important policy.
Life takes some interesting twists and turns and it just so happens that I unfortunately needed to call on the benefits on my amazing policy.
Brent was right there when you needed him the most, guiding me through the entire process and following through with everything he had advised me on in the past.
I can’t thank Brent enough for being by my side offering genuine Compassion and knowledge when needed.
Thanks for everything Brent. You are a true credit to yourself, the company and your family.
Warmest regards
Mark

Herman Bothma

Curo Financial Service have given me out standing customers service over the years. Brent have great knowledge to what product would be the best suited for my level of cover and great advice over the years.

From the day I took out my life insurance cover and Income protection Brent was there to answer any questions I had and
when I was diagnosed with pancreatic cancer years later Brent made the Claim process easy with good communication clarity with what’s information is needed a piece of mind in a uncertain time for me but not only where he professional through out the process he showed support empathy, kindness and a level of care that’s hard to find these days.

I would Recommend Brent and Curo financial Services without any hesitation. I am sure they would look after you too!

Paul Michael Jamieson

We have been dealing with Brent from Curo Financial Services for a while now and have found them extremely helpful and always acted in our best intrest
So I would have no hesitation to recommend them to anyone
Paul

Jocelyn Jamieson

Have dealt with this firm for many years and always received fantastic service. Would highly recommend. Nothing is too much trouble for Brent. He goes out of his way to assist.

Ari Mitchell

I recently had the pleasure of working with Brent from Curo, and I cannot express enough how exceptional my experience was. From the moment I reached out for assistance, Brent demonstrated an unparalleled level of subject matter expertise and a dedication to providing outstanding customer service.

Brent's knowledge and proficiency in their field were immediately apparent. They patiently listened to my concerns and questions, providing thorough and clear explanations that made even the most complex concepts easy to understand. What truly set Brent apart was their willingness to go above and beyond to ensure I had all the information I needed. Their expertise was not just impressive but invaluable.

Additionally, the customer service I received from Brent was nothing short of outstanding. They were not only professional and efficient but also genuinely friendly and approachable. Brent took the time to address all my queries, no matter how big or small, and made me feel valued as a customer. Their patience and willingness to assist left a lasting impression on me.

I am truly grateful to have had the opportunity to work with Brent at Curo. Their expertise and dedication to providing exceptional customer service are a testament to their commitment to excellence. I would highly recommend Brent to anyone seeking top-notch assistance and support. Thank you, Brent, for your outstanding service – you have definitely earned a loyal customer in me!

Vivien Reed

I found service received from Curo Financial Services professional and stress free.Communication was easy with regular updates. A positive outcome was achieved to an insurance claim. Highly recommended.

More reviews

General Advice Disclaimer

General advice warning: The advice provided is general advice only and in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.

Interested in learning more?

Fill in the form below and one of our advisers will get in touch to assist you further.