If you work in a practice you are usually self-employed, so you may wish to cover your lost income from the very first day you are off sick.
If you are not a practice owner, then it is worth speaking to your principal to see what your entitlements are.
If you own the practice, you should think about the income it will produce in your absence and for how long.
Not being able to work because of an illness or injury will affect your lifestyle, not just in terms of day to day living but also financially. The extent of this effect will obviously depend on your personal circumstances. Income protection insurance is designed to reduce the financial worries of ill health, by giving you the safety of a regular income to replace any earnings you lose by not being able to work.
No one wants to think about falling ill or having an accident but, as well as the unexpected, it is worth remembering that dentistry is a physically and mentally demanding profession, so it’s no surprise that many dentists suffer from some form of illness or injury during their careers.
If you are self-employed, you will not have access to any employer sponsored sick pay arrangements, although, if you are in an NHS practice, you may have limited benefit entitlements. Whatever your situation, unless you think you can get by on government benefits if you have a long term illness, you will need to make arrangements for yourself.
Employment and Support Allowance, is currently £72.40 per week (£57.35 if you are under 25) for the first 13 weeks and £108.15 per week after that if you meet the criteria under the Work Capability Assessment.
For more information on the employment and support allowance click here.
"Have you incorporated your practice?" Peter asks...
For further information, please read the key features of our dentists’ income protection plan and our rules.
If you have any questions, please contact our member services consultants by e-mailing email@example.com or calling 020 7400 5710.