Protecting yourself and your business
As an NHS dentist, you’ll be entitled to claim sick pay if you’re unable to practice through ill health.
If you’re planning to leave the NHS completely, you’ll no longer be entitled to this support. This is where an income protection policy can help, providing monthly benefits to make sure you can meet all your regular outgoings if you’re unable to work.
The NHS Pension Scheme also provides death in service benefits, as well as a dependent’s pension that is paid to your surviving spouse, registered civil partner or a nominated qualifying partner when you pass away.
Leaving the NHS means that your entitlement to these benefits will change. For example, if you’ve been a member of the scheme for less than two years and you die within 12 months of leaving it, there will be no dependent’s pension payable.
By taking out a life assurance policy, your family will be guaranteed a lump-sum payout when you pass away. This sort of cover can make a difficult time that little bit easier and help to take care of the costs that soon stack up.
It’s also worth thinking about how to protect your business should the worst happen – for example, if a partner of your practice becomes critically ill or one of your key employees passes away. Partnership protection and key person insurance can provide crucial financial support should these circumstances arise.
Wesleyan Financial Services is a broker and insurance products are provided by a number of select insurers.
Limits, exclusions and charges do apply.