Life Insurance For Doctors
- £200k cover for less than £6 a month*
- Your premiums will never increase
- Awarded ‘Best Life Insurance Provider’ by YourMoney.com 2023
Life insurance for doctors
Being a doctor is such an important job. Every day people put their health and lives in your hands, and you’ll likely have faced many challenges in the last few years. If you have a family and you’re the main breadwinner or you have a mortgage, it could be the right time to consider life insurance.
Does life insurance cover doctors?
Yes, life insurance covers doctors and it isn’t usually considered a high risk occupation. This means that you should be able to secure life insurance at the usual rates. When you apply for life insurance with us at Beagle Street, we will ask you questions about your job. If for example, you are a doctor in dangerous places or war zones around the world, this could impact your application whereas if you’re a GP or work in a hospital it shouldn’t be an issue.
What life insurance is best for doctors?
If you work for the NHS, you will be entitled to contribute to the NHS pension scheme. This provides you with financial security for the future in the form of a pension and also offers protection to your family with a death in service benefit. However, you may feel that your family needs an added layer of protection with life insurance.
There isn’t one type of life insurance policy that best covers doctors. Instead, the right policy for you will depend on your personal circumstances and the protection you want to put in place for your loved ones. You may consider leaving a lump sum to your children to protect them financially for their ongoing living expenses. This is termed level cover, as the value of the payout remains the same throughout the policy.
You could instead opt for decreasing cover, which will cover the value of your mortgage enabling your family to stay in your home after your death. It is called decreasing cover as the value of the payout decreases in line with the value of your mortgage.
How much does life insurance for doctors cost?
The cost of life insurance will depend on a range of factors. The type of cover and the length of term you choose will affect your premiums. As will your age, health and wellbeing.
You will need to tell us:
- Your age – generally the older you are, the higher the cost of life insurance.
- The type of cover – decreasing cover is generally cheaper than level cover.
- The length of cover – whether you cover just the length of your mortgage or wait until your children are a certain age.
- Your health status – if you are a smoker or heavy drinker this can affect the cost of your life insurance.
- Any pre-existing medical conditions – these include heart attacks or diabetes for example.
To apply for life insurance at Beagle Street, you must also be a UK resident aged over 18. To get an accurate quote, you will need to be open and honest about your health and personal situation.
Do I need specialist life insurance for doctors?
No, you don’t need specialist life insurance for doctors and it isn’t a type of life insurance we offer at Beagle Street. Instead, the life insurance policy you need will be one that offers you the type of protection you require for the length of term you want.
Will critical illness cover payout and cover doctors?
If you get a critical illness that means you can’t work, critical illness cover will payout and protect your family financially. This can be extremely important if your family is relying on your salary as the main source of income.
Critical illness cover does payout and cover doctors, but only for one of the critical illnesses listed in your policy. This will include the likes of cancer, MS, heart attack or musculoskeletal issues. You will need to thoroughly check your policy to understand which conditions it covers.
Life insurance and critical illness cover for doctors
As a doctor you play a vital role in the lives of the people in your community. With critical illness cover and life insurance cover from Beagle Street you have the peace of mind that you’re protecting your family too, should the worst happen.
Get a quote today or speak to the team
At Beagle Street we’re here to support you through the application process. If you’re ever unsure about any of the questions in the application, we have a team of experts on hand to help.
or call us
0800 048 0480
Included with every Beagle Street policy
Estate planning kit
Accidental death benefit
Early funeral payout
Amazon gift card^
Free Beagle soft toy^
*Based on a 30 year old non-smoker, £200k decreasing term cover for 20 years
^Available only when purchasing a policy directly through Beagle Street. Within 60 days of paying the 2nd monthly payment, the soft toy will be dispatched. The gift card value varies depending on monthly premium. Within 30 days of paying the 6th monthly payment, you will receive an email to claim your e-gift. Full Terms and Conditions