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Manor Financial are experienced insurance brokers and we can offer affordable income protection for healthcare professionals
Insurance can typically cover between 50% to 70% of a nurse’s pre-tax earnings in case they are unable to work due to a prolonged illness or injury.
This additional financial assistance provides peace of mind, allowing you to manage essential expenses worry-free while you focus on your recovery.
While sick pay is often available, you may question the need for extra protection. We want to assure you that income protection serves as a valuable safety net to safeguard your financial well-being.
After a certain period, eligibility for sick pay may expire. In such circumstances, income protection becomes crucial, offering crucial support to cover monthly bills and medical costs.
Nurses and other healthcare professionals may face a range of health issues related to their profession. Among the most common are mental health conditions like anxiety and depression.
Additionally, there exists a risk of other injuries and illnesses, including exposure to infections and potential musculoskeletal problems.
Provided by our partner Vitality
However, we collaborate with specialised income protection insurers who offer unique flexible policies to NHS and agency nurses. These policies automatically adjust their coverage as their sick pay allowance increases, eliminating unnecessary stress and the need for annual reviews.
Nurses and other private healthcare workers are often affected in considerable numbers by some common mental health conditions & illnesses due to the incredibly stressful nature of their jobs. Ranging from stress & anxiety aliments to bouts of depression. Nurses and other front line NHS workers can also find themselves at risk of other injuries and illnesses through exposure to airborne infections and a multitude of musculoskeletal issues including arthritis, tendonitis, muscle strains and herniated discs.
We know that nurses work in an increasingly busy and often very stressful environment
When your claim has been received, it will be assessed, then approved or denied. If approved, you will start receiving tax free monthly payments to the bank account specified in your policy generally within five working days after your claim has been approved. Payments will then continue until you can return to work, or until the end of your claim period.
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Manor Financial is an accredited financial services broker who specialise in providing healthcare professionals with a wide selection of easy to set up, affordable insurance policies.
Income Protection and Life Insurance specialists
Absolutely, especially in certain professions such as nursing. This is primarily because nurses are at a higher risk of developing certain illnesses and injuries than the general population. This is due to the nature of their work, which is often physically and emotionally demanding.
Income protection insurance will provide nurses and healthcare workers with the financial security they need to focus on their recovery if they are unable to work due to illness or injury.
Income protection insurance for nurses is a type of insurance that provides a monthly income if you are unable to work due to illness or injury. This can help to cover your living costs, such as your mortgage, rent, and bills, while you are unable to earn your usual salary.
The amount of income protection you’ll receive will depend on your monthly salary and the level of cover you choose. Typically, you can receive between 50% and 70% of your pre-tax salary.
You can also choose a deferred period. This is the amount of time you must wait before your income protection payments start. The longer the deferred period, the lower your monthly premiums.
Income protection insurance can be a valuable safety net for NHS staff; providing vital financial security, so workers can focus on their recovery, when unable to work due to illness or injury.
Eligible individuals receive a guaranteed monthly income if they are unable to work. This can help to cover living costs, such as your mortgage, rent, and bills, while you are unable to earn your usual salary.
The amount of salary protection you can receive will depend on your monthly pay and the level of insurance cover you choose. Typically, it pays out at between 50% and 70% of your pre-tax salary.
No, they do not have customised income insurance policies for their employees; In some cases the NHS will provide sick pay but this often depends on length of service and which Trust you work in. If sick pay is available, it may only be for a short period of time. By taking out your own income protection insurance you get to choose the level of cover you need and how long you want it for.
Yes. To be eligible for income protection insurance, you must be working as a registered nurse, be between the ages of 18 and 65 and a UK resident. You will also need to have a good medical history. You might also be required to pass a medical examination. However, this will depend on your type of the type of policy and insurer.
Income protection payments can typically last for up to two years, or until you reach retirement age. This will depend on the terms of your policy, also the length of the deferment period (the wait before a claim can be made) you option for.
The cost of income protection for nurses varies depending on several factors, including, age, health status, income and level of cover required.
The level of cover you choose will also affect the cost of your policy. If you choose a higher level of cover, your premiums will be higher. Speak to a qualified insurer to find out what is the right policy for your circumstances.
If you have any questions about any of our policies, from income protection, life or home insurance to one of our more specialist policies; or would simply like a ‘no obligation’ quote, we’d love to take your call on 0800 368 7533.
Alternatively complete our quick and easy form, and a member of our team will be in touch shortly.