If you are a dental surgeon and are looking to purchase income protection cover, you’ll no doubt want to make sure you get the right cover for your circumstances.
With over 40 income protection plans available to choose from in the market it makes sense to do your research before you buy a plan. This is especially important as the price of the cover is based on your age and health at outset and once the cover is in place you will not usually change the plan each year (like you might do with products like car insurance etc).
There are several factors you’ll need to consider, including:
- What ‘deferred period’ you want (Day 1, 4 weeks, 13, 26, 52 weeks etc) – this is when your cover would start to pay out
- Whether you want a reducing cover plan (where the amount of cover reduces by 50% after 26 weeks and then a further 20% after 52 weeks)
- Or, a level cover plan
- If you want your cover to increase with inflation (be careful as there are various ways to set this up)
- Whether you want guaranteed premiums or reviewable premiums
- What age you want your cover to run to
As Financial Planners providing a range of financial solutions to dentists, we have a service dedicated to helping you find the right income protection package for your circumstances.
The main benefits of using us are:
- You’ll save hours of time as we’ll liaise with the protection provider(s) on your behalf
- Your administration time and paperwork will be kept to a minimum
- We’re totally independent and work on your behalf (we’re a private company and are not tied to any institutions) so we can choose the right plan for your circimstances (we will show you the research we do so you’ll know it’s the right cover for you)
- You will not usually have to pay us a fee for helping you arrange the cover. For example, the price of one of the major provider’s cover is the same whether you use us or deal with them direct. If you use us they will pay us an introducers fee (commission). If you deal with them direct it means they do not have to pay the fee to a third party introducer.
- If you do use us, you will have additional protection as we are regulated (and liable) for all the advice we provide.
If you’re wondering who we are, Rutherford Wilkinson is a firm of Financial Planners based in Newcastle upon Tyne. A division of the company deals with the financial planning needs of dentists across the UK and the 2 lead Financial Planners in this division have over 35+ years combined experience dealing with dentists.
All you need to do is contact us for an initial discussion free of charge. We will then spend a few minutes on the telephone to discover if we can be of any help (if we can’t help you we’ll try to point you in the right direction).
All you need to do is complete the form below and we will be in contact with you within one business day (or you can call us on 0191 217 3340 - ask for me, Ray Prince).
Whatever you decide, best wishes.
Ray Prince
CERTIFIED FINANCIAL PLANNERCM Professional
See my CFPCM Professionals profile
