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Compare Income protection for nurses

Income protection insurance will generally cover between 50%-70% of a nurses’ pre-tax salary, if they cannot work due to long term illness or injury. This extra financial support can help you cover essential bills and expenses worry free while you recover.

With sick pay usually being available, you may wonder whether there is any need for additional protection. We assure you that income protection is a safeguard that is always worthwhile to help protect your finances.

At a certain point, sick pay eligibility will expire. If you are still unable to work at this point, income protection can provide vital support to help pay monthly bills or medical expenses.

Nurses and other healthcare workers can be affected by various illnesses or injuries related to their job. The most common of these are generally mental health conditions such as*:

There can also be risk of other injuries and illnesses including exposure to infections and potential musculoskeletal issues.

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YES – income protection will be able to cover nurses if they require extended time off work due to illness or injury.

Nurses that become ill or injured will have access to standard statutory sick pay (SSP). If employed through the NHS, they should receive NHS sick pay as well, though how much you get will depend on length of service.

Whilst this useful for short periods of absence, these sick pay options will not pay out indefinitely.

An illness or injury could have a significant impact on your ability to work. If this happens, you may need a much longer amount of time to recover.

This may cause a lot of worry about how you can afford to pay for monthly household bills. This can apply to other major expenses such as car finance as well.

If you have income protection insurance in place, this will give you a financial safety net and some peace of mind.

Does income protection insurance pay out for nurses?

YES – in most cases income protection should pay out for nurses once a claim has been submitted. If you are off work for 26 weeks or more, you will be eligible to claim.

An exception to this may be if the sick leave has been taken because of a pre-existing condition you disclosed when applying. If the insurer has placed an ‘exclusion’ on this condition, you can’t claim for anything related to this condition.

Compare income protection insurance for nurses

The best way to find the right policy for you is to compare policy types and providers. Comparison will help you to assess what policies are available and the average price of these policies.

Income protection is a widely available insurance product. This means that often insurers will do their best to offer very affordable pricing to try and beat other insurers on the market.

This is great news for anyone looking to take out a policy, as it can lead to noticeable savings on your monthly premiums.

If you aren’t sure where to begin when searching for the right provider, speak to one of our insurance EXPERTS.

How much is income protection insurance for nurses?

Nurses work extremely hard and are entitled to feel they will not struggle if they fall ill or are injured.

The price of on income protection policy will be dependent on several factors. In some cases, you may be able to get protection for much lower prices than you may have expected.

With some research or health and lifestyle changes, you may be able to significantly reduce the cost of your policy.

This can include things such as taking out a policy earlier in life or quitting smoking for example. Even small changes can make a significant impact to the prices you may be charged.

Cheaper income protection insurance for nurses

Things such as age and general health and lifestyle will always influence insurance pricing. We recommend trying to remove any lifestyle factors that may make illness more likely, for example smoking. We also would suggest taking out any insurance policy as early in life as possible.

There is also the option of taking out what is known as an ‘age rated’ policy. This policy type will work out cheaper for you the younger you are when you secure the cover.

If you need a FREE quote, don’t hesitate to get in touch with our team. We can give FREE, FRIENDLY advice about how to save on the pricing of your policy.

We can offer expert advice and make sure the policy you choose has the most competitive pricing available.

There are several different types of income protection insurance that are currently available. Which policy type is the most appropriate will often depend on budget. The policies available are:

  • Short-term income protection insurance which will usually pay out for up to 12 or 24 months from the point of claim.
  • Long-term income protection insurance will pay out right up until the end of the policy term. This is often a far longer term than most other policies.
  • Guaranteed sick pay will be far less expensive than a full income protection policy as it excludes pre-existing conditions as reasons to claim. This policy type will normally pay out for up to 6 months from the point of claim. 
  • Personal accident insurance is often the cheapest form of income protection. A key benefit of this policy is that it will pay out for hospitalisation over 24 hours, as well as for injuries and accidental death

Does being a nurse affect income protection insurance?

Being a nurse should not affect you being able to take out income protection insurance.

If you have been in the NHS for 5 or more years, you could have access to NHS sick pay for up to a year. This means you can defer (postpone) when your insurance pay outs begin.

If you choose an extended deferment period for income protection, you can often access a cheaper policy than most. You can specify your preferred deferment period with the provider when taking out your policy.

If you work in a private surgery or hospital, your sick pay eligibility may be slightly different. You should still be able to access SSP in most cases though.

You can learn more in our guide INCOME PROTECTION FOR MEDICAL PROFESSIONALS.

Refused income protection insurance for nurses

In some cases, insurance providers can decline to provide a policy. This can apply to income protection, as well as more traditional life insurance cover. It is extremely unlikely you would be refused cover simply for being a nurse.

There are however other reasons that can lead to wariness before insurers offer cover. This can lead to being declined in some cases. There are several common reasons that can be areas of concern for insurers. These are:

  • Dangerous hobbies (such as sky diving)
  • Pre-existing conditions
  • High risk jobs

Why do I need income protection insurance for nurses?

When working in a medical setting, there can be a higher than usual risk of exposure to various illnesses and infections.

The job role can be very rewarding but also mentally demanding, leading to stress, anxiety or depression. This is not even considering that the job is also physically demanding and musculoskeletal injuries and issues can also be commonplace.

Best income protection insurance companies for nurses

There are many insurance providers in the UK, meaning a huge variety of options can be available when looking for a policy. This is great as you have many options, but it can be difficult to know where to begin your search.

Medical professionals such as nurses can often access specialised policies as well, with cheaper rates. Whether these policies are available will depend on individual lenders, so it is best to do some research.

Income protection experts such as us are ideally placed to help you find the perfect policy at a price to suit your budget. We can compare prices and policies across providers to find the one that is most appropriate for the level of cover needed.

Some insurance providers will offer what is known as ‘guaranteed’ cover. This can apply to nurses’ income protection.

With a guaranteed policy, you will be able to get cover without worrying about many things that could otherwise cause issues with an insurance application.

This policy type will however exclude you from claiming for any time off relating to a pre-existing condition. You will still be able to claim for unrelated illnesses and injuries.

Income protection insurance questions about nurses

With any insurance policy, a provider will ask questions to determine how your general health and lifestyle may affect your likelihood to claim. This is especially relevant with income protection cover.

The provider may ask questions such as:

  • Age of applicant
  • Height and weight
  • General lifestyle
  • Dangerous hobbies
  • Pre-existing medical conditions

With working in a medical environment, there may also be additional questions asked in relation to your job role. This may be to do with whether you often work with patients with infectious diseases and other potential risk factors.

How do I claim on income protection insurance for nurses?

It is a far simpler process than you may think to put in an income protection claim. There are 4 steps needed to claim, which are:

  • Contact your insurance provider
  • Complete a claim form (usually online)
  • Submit medical evidence (if needed)
  • Submit financial evidence (if needed)

When the insurer has received your claim, they will assess it and approve or deny it. When the claim has been approved, you will start receiving tax-free monthly payments to the bank account specified in your policy.

Medical conditions linked to nurses

There can be a notable variation in work environment for different types of nursing (theatre nurse, dental nurse, school nurse etc). This means there can be additional health risks depending on the setting as well as the job role itself.

Depending on your specific role, there may be varying factors that can affect your health. This includes issues such as:

  • Stress
  • Anxiety
  • Depression
  • Musculoskeletal issues

Common questions about nurses’ income protection

Below we have the answers to several questions relevant to nurses looking to take out income protection:

Can I get income protection insurance for nurses?

Yes, you will be able to get income protection as a nurse. It can be a great policy to have in place to protect your finances if you become ill and are unable to work.

How long is income protection paid for?

Income protection pay out periods will vary depending on the individual policy and provider. The most common payment periods are:

  • 12 months
  • 24 months

What does income protection cover you for?

Income protection insurance is designed to cover you for a variety of illnesses, disabilities and injuries that leave you unable to work for an extended period of time.

Exceptions to this would be if the provider has placed an ‘exclusion’ on your cover, meaning you can’t claim for absences related to a pre-existing condition for example.

Do I need income protection insurance for a mortgage?

It is not a requirement to have income protection in place before applying for a mortgage.

It is however beneficial to have this policy in place, in case you cannot work and need support to cover your loan repayments.

*according to NHS Digital

Useful resources for nurses

Royal College of Nursing – Sick leave and sick pay

Gov.uk – Taking sick leave

NHS Digital – NHS Sickness Absence Rates

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