Clinicians FAQs

Income protection provides a regular monthly payment if you are unable to work due to illness or injury.

For clinicians, this is particularly important as income is often directly linked to clinical activity across the NHS, private practice, or partnership earnings.

This is particularly relevant for GPs, dentists, and consultants with private income.

In many cases, yes.

While NHS sick pay can provide short-term support, it often does not cover:

• private practice income
• LLP or partnership profit share
• locum or consultancy earnings

This can leave a significant gap in overall income.

This is particularly relevant for GPs, dentists, and consultants with private income.

Income protection for GP partners or LLP members is typically based on their share of profits rather than a fixed salary.

Policies can be structured to reflect:

• partnership drawings
• average income over time
• total earnings across NHS and private work

This ensures cover aligns with how income is actually received.

Yes, specialist policies can be structured to include private practice income.

This is important because private income usually stops immediately if a clinician cannot work.

This is particularly relevant for consultants, dentists, and surgeons with private income streams.

Locum doctors often have no employer sick pay, meaning income can stop immediately if they cannot work.

Income protection can provide financial stability during periods of illness or injury.

Policies can be structured to pay:

• short-term (e.g. 1–2 years)
• long-term (up to retirement age)

The right structure depends on your financial commitments and risk tolerance.

In most cases, yes. Regulatory bodies require clinicians to have appropriate indemnity arrangements in place.

Typically no. Private practice work usually requires separate arrangements.

No. Indemnity focuses on clinical claims, not personal income or financial commitments.

This depends on individual circumstances, but many clinicians review income protection, life cover, and practice-level protection.

Shareholder or partnership protection ensures ownership can be transferred smoothly if a partner dies or becomes critically ill.

It helps prevent:

• ownership disputes
• forced business sales
• financial instability in practices

It is particularly relevant for:

• GP partnerships
• LLP medical practices
• dental partnerships

Their share of the business typically passes to their estate.

The remaining partners may need to negotiate or fund a buyout without pre-arranged financial support.

Without protection, ownership may pass to family members, which can create:

• uncertainty
• financial pressure
• potential disputes

This is particularly relevant for GPs, dentists, and consultants in shared ownership structures.

Yes.

It ensures the family receives fair financial value, while allowing the business to continue under existing ownership.

In many cases, it passes to their estate unless arrangements are in place to manage the transfer.

Policies are arranged on each partner’s life.

If one partner dies or becomes critically ill, funds are provided to enable the remaining partners to purchase their share.

Yes.

LLPs often involve shared ownership and income, making protection planning important for continuity and stability.

Many practices rely heavily on a small number of clinicians to generate income. Protection planning can help reduce financial risk if one of those individuals becomes unable to work.

It is a form of protection that provides funds to repay business debts if a key individual dies or becomes seriously ill.

Many partnerships share responsibility for loans, making protection an important consideration if one partner cannot contribute.

It can help reduce the financial impact of loans that involve personal guarantees, depending on how the policy is structured.

No. Smaller practices may be more exposed to risk if one partner cannot meet their share of financial commitments.

Not all practices require it, but it is commonly considered where borrowing is significant and shared between partners.

It can be structured to reflect different types of borrowing, including loans and finance agreements.

Protection can help reduce the financial impact on individuals where personal guarantees exist.

Yes. Smaller practices may be more exposed, as the loss of one individual can have a greater impact.

Many practices offer healthcare benefits as part of a wider employee package to support wellbeing and retention.

No. Smaller practices often benefit significantly, particularly where each team member plays an important role in operations.

Yes. Practices can choose to cover different groups of employees depending on their needs.

Faster access to treatment can help reduce the length of time employees are unable to work.

Yes, it provides a lump sum if diagnosed with a serious illness.

It can help with:

• private medical treatment
• mortgage payments
• reducing working pressure during recovery

It is often used alongside income protection.

Executive Income Protection is a form of income protection designed for company directors or high earners.

It can be arranged through a business and tailored to reflect complex income structures.

It is particularly relevant for:

• consultants with private practice income
• dentists operating through companies
• clinicians receiving dividends or company income

It is typically designed to:

• reflect higher earnings
• align with company income structures
• provide more flexibility in how cover is arranged

In many cases, yes.

While NHS sick pay can provide short-term support, it often does not cover:

• private practice income
• LLP or partnership profit share
• locum or consultancy earnings

This can leave a significant gap in overall income.

This is particularly relevant for GPs, dentists, and consultants with private income.

In many cases, yes.

Policies can be structured so that premiums are paid by the business, depending on the setup.

Policies can be structured to pay:

• short-term (e.g. 1–2 years)
• long-term (up to retirement age)

The right structure depends on your financial commitments and risk tolerance.

Yes. Specialist policies can be structured to include private practice income.

This is important because private income usually stops immediately if a clinician cannot work.

This is particularly relevant for consultants, dentists, and surgeons with private income streams.

In some cases, policies can be structured via your limited company or partnership for tax efficiency.

Yes. Certain structures, including Relevant Life Insurance, allow the company to pay premiums on behalf of directors or partners.

Not necessarily.

It is often used alongside personal cover as part of a wider financial plan, depending on your circumstances and income structure.

In many cases, yes.

Premiums are typically paid by the company, which can be more tax-efficient than paying personally from post-tax income.

This is particularly relevant for GPs, dentists, and consultants with private income structured through companies.

It can be, particularly if you are a company director or practice owner. Exact treatment depends on your individual circumstances and current tax rules.

Yes. Many small medical practices and clinician-owned companies use this approach.

It is typically suitable for:

• company directors
• clinicians operating through limited companies
• individuals with private income structures

It may also be relevant in some LLP arrangements.

LLP members can explore protection arrangements that align with their income structure, though the approach differs from limited companies.

In some cases, yes. Relevant Life Insurance allows certain types of life cover to be arranged through a limited company rather than personally.

A key person is typically someone who:

• generates significant revenue
• has specialist skills
• plays a critical role in operations

This is common in dental practices, GP surgeries, and private clinics.

It can help cover:

• loss of income
• recruitment costs
• temporary staffing
• ongoing expenses

Yes. Policies are structured to compensate the practice for lost earnings and operational disruption.

No. The policy pays out to the practice, not the individual, ensuring the business is financially protected.

However, practices can choose to support the individual financially with some of the proceeds.

By assessing the potential financial impact if the key individual cannot work, including revenue, costs, and any capital invested in the practice.

Your Broadbench adviser can assist you in this calculation.

Key Person Insurance protects a business financially if a key individual becomes unable to work due to illness or death.

The business receives a payout to help manage the financial impact.

Key individuals are often clinicians who generate a large proportion of revenue, hold specialist expertise, or play a leadership role within the practice.

Practices with only a few clinicians may be particularly vulnerable if one individual cannot work, making protection planning an important consideration.

In some cases, yes. Certain types of protection can often be arranged so that the premiums are paid by your company rather than personally.

This is commonly used by clinicians operating through limited companies or private practice structures and can offer potential tax efficiencies, depending on the policy and circumstances.

Yes. When clinicians operate within partnerships or LLPs, their financial interests are closely linked to other partners in the practice.

If a partner dies or becomes seriously ill, it can create uncertainty around ownership and financial responsibilities. Protection planning can help ensure that partnership shares are transferred smoothly and provide financial support to the partner’s family.

Many clinicians rely on their ability to practise in order to maintain income. If illness or injury prevents you from working, your personal income and financial commitments could be affected.

Income protection policies are designed to provide a replacement income during periods when you are medically unable to work.

Clinicians who earn income through private practice, consultancy work or limited companies often have multiple income streams.

Protection planning can help ensure these income sources are supported if you are unable to work or if something affects the operation of the practice.

Yes. Many insurers offer protection solutions suitable for clinicians with variable income or contract-based work, including locum doctors and consultants working across multiple practices.

Policies can often be structured around how your income is earned rather than relying on a traditional salary model.

Yes, although lenders sometimes find it difficult to assess income that comes from a combination of NHS work, private practice, partnerships or company income.

Specialist mortgage advice can help identify lenders who understand these structures and are comfortable assessing complex clinical earnings.

Lenders typically use:

• average profit share over 2–3 years
• partnership accounts
• SA302 tax calculations

This helps smooth income fluctuations.

Yes, but it depends on:

• consistency of dividends
• company performance
• retained profits

Some lenders are more flexible than others.

Private income is usually assessed based on:

• historical earnings
• consistency
• supporting accounts or tax returns

The main challenge is that income is often:

• variable
• structured across multiple sources
• not easily understood by standard lenders

This is why specialist advice is important.

In most cases, yes.

Specialist advisers understand how to present:

• LLP income
• private earnings
• dividends
• locum income

This can significantly improve outcomes.

Yes, clinicians are often seen as strong applicants due to income stability.

Lenders will assess:

• personal income
• rental income potential
• deposit size

Typically:

• 20%–25% deposit

This can vary depending on lender and property type.

Yes, rental income is a key factor.

Lenders usually require the rent to cover a percentage of mortgage payments.

Yes, some investors purchase property through limited companies.

This can have tax and structuring implications, so advice is important.

A product transfer is when you switch to a new mortgage deal with your existing lender without changing the loan itself.

Yes, because your current lender already understands your situation.

They may:

• require less documentation
• not fully reassess income

In some cases, yes.

Remortgaging may provide:

• better rates
• more flexible terms
• access to specialist lenders

It depends on your income structure and goals.

Sometimes, but usually less detailed than a full mortgage application.

Yes, but income will be reassessed based on current structure.

This may include:

• partnership income
• dividends
• private practice earnings

Specialist lenders can better interpret complex income.

Common times include:

• when a fixed-rate deal ends
• when seeking better interest rates
• when releasing equity

Timing is important to avoid moving onto higher standard variable rates.

Yes, higher income may improve borrowing capacity or access to better rates.

However, lenders will still assess:

• sustainability of income
• consistency over time

Typically:

• SA302s (2–3 years)
• partnership or company accounts
• payslips (if applicable)
• bank statements

Yes, but lenders will reassess your current income.

This may include:

• NHS salary
• private practice income
• LLP or partnership earnings
• company income

Clear documentation is essential.

Yes, specialist lenders can assess combined income streams.

This is particularly relevant for consultants, dentists, and GPs with mixed income sources.

In some cases, yes.

Porting allows you to transfer your existing mortgage to a new property, although:

• lender approval is still required
• affordability will be reassessed

Yes, lenders will usually require updated documentation, such as:

• recent payslips
• accounts or SA302s
• bank statements

Yes, many lenders offer mortgages to junior doctors, even early in their careers.

Some lenders recognise:

• future earning potential
• NHS contracts
• structured career progression

This can support affordability even with limited income history.

Yes, but lenders will usually assess income based on:

• average earnings over 12–24 months
• contract history
• bank statements and tax returns

Specialist lenders are often required.

This depends on the lender, but many mortgages are available with:

• 5%–10% deposits
• higher deposits for more complex income cases

The stronger and more consistent the income evidence, the more options are available.

Some lenders have specialist criteria for medical professionals.

They may consider:

• career stability
• long-term earning potential
• NHS employment

This can improve access to mortgage products.

Yes, specialist lenders and advisers like us assess income based on contracts, dividends, partnership shares and day rates, not just standard payslips.

Our flat fee is £500, split into £100 at Agreement in Principle and £400 on application. If the mortgage does not proceed, this fee is non‑refundable.

Remortgages for existing clients are £250.

Product Transfers – no fees.

Yes, but your current lender may reassess affordability, and specialist lenders often give better outcomes for complex income.

Yes. We work with lenders experienced in contractor and professional buy‑to‑let applications, helping you maximise borrowing based on rental income and personal circumstances.

Yes, but lenders assess clinician income differently depending on structure.

Income may include:

• NHS salary
• private practice income
• dividends from a limited company
• LLP profit share
• locum income

Specialist lenders are often required so seeking financial advice from an expert is recommended.

Lenders typically use:

• average profit share
• partnership accounts
• SA302 tax calculations

This can vary depending on lender policy.

📚 Related guide: Mortgages for GP partners and LLP members

Yes, but lenders will usually assess:

• average income over 12–24 months
• contract consistency
• bank statements and tax returns

Specialist underwriting and advice is often needed.

📚 Related guide: Mortgages for locum doctors with variable income

Yes, many lenders have specialist criteria for doctors and dentists.

Some may consider:

• future earning potential
• training status
• NHS contracts

This can sometimes improve affordability assessments.

Succession planning helps ensure that ownership transitions can occur smoothly if a partner dies, becomes seriously ill, or decides to retire.

In many cases, the share may pass to their family through their estate unless alternative arrangements have been put in place.

Protection planning can help provide financial resources that allow the remaining partners to acquire the share while ensuring the family receives fair value.

Yes. Succession and protection planning should typically be aligned with the practice’s legal ownership agreements.

Key person protection planning helps businesses prepare for the financial impact if an important individual becomes unable to work due to illness or death.

Key individuals are often clinicians who generate a large proportion of revenue, hold specialist expertise, or play a leadership role within the practice.

Practices with only a few clinicians may be particularly vulnerable if one individual cannot work, making protection planning an important consideration.

In some cases, protection arrangements can help provide financial support while the practice recruits and trains a replacement clinician.

Surgeons often earn income through several professional roles, which can make financial planning more complex than traditional employment structures.

Protection planning can help ensure that income generated from clinical work is supported if illness or injury prevents a surgeon from practising.

Some surgeons structure private work through limited companies, which may provide additional options when planning financial protection.

Surgical careers often evolve over time, with changing clinical workloads and professional roles. Financial planning helps ensure long-term stability throughout these transitions.

NHS roles may provide some sick pay protection, but private practice income often stops if a consultant cannot work. Protection planning can help support overall financial stability.

Income protection planning can often take private earnings into account when determining appropriate levels of cover.

Consultants often have complex income structures, so financial protection planning may need to reflect both NHS employment and private work.

Some consultants operate private work through limited companies, which may create additional options when structuring protection planning.

Yes. Many lenders offer mortgages for locum doctors, although income may need to be assessed differently compared with salaried employees.

Some lenders specialise in working with professionals who earn income through contracts or variable work patterns.

Requirements vary between lenders, but many look for a track record of locum income over a certain period.

Some locum clinicians operate through limited companies, and lenders may review company accounts and personal income when assessing affordability.

Many locum clinicians rely entirely on their ability to work to generate income. Protection planning can help provide financial support if illness or injury prevents them from practising.

Yes. Protection planning can often be structured around average earnings or typical income levels rather than a fixed salary.

Because locum clinicians usually do not receive employer benefits such as sick pay, financial protection planning can be an important consideration.

Some locum doctors operate through limited companies, which may create additional options for structuring protection depending on their circumstances.

Many GP partners rely on their ability to practise in order to maintain their income. Protection planning can help provide financial support if illness prevents them from working.

GP partners typically earn income through profit share rather than a fixed salary, which means their earnings may fluctuate depending on practice performance.

Many practices review protection planning across all partners to ensure everyone is protected in a consistent way.

In some cases, protection planning can provide financial support that helps the practice manage the impact of losing a partner’s clinical contribution.

Many partnerships rely on a small number of doctors to run the business. Protection planning can help ensure the practice continues operating smoothly if one partner dies or becomes seriously ill.

In many cases, their ownership share may pass to their family through their estate unless other arrangements are in place.

Protection planning can help provide funds that allow the remaining partners to purchase the share while ensuring the partner’s family receives financial value.

Yes. Protection arrangements often work best when they align with the terms of the practice’s partnership agreement.

In some cases, yes. Relevant Life Insurance allows certain types of life cover to be arranged through a limited company rather than personally.

Many professionals use Relevant Life policies because they can offer potential tax efficiencies compared with personal life insurance. However, the tax treatment depends on individual circumstances and should be reviewed with an adviser.

It can be suitable for associate dentists who operate through their own limited companies rather than being directly employed.

In many cases, companies can arrange Relevant Life policies for directors or employees as part of their financial protection planning.

Many practices rely heavily on a small number of clinicians to generate income. Protection planning, such as key person cover or executive income protection, can help reduce financial risk if one of those individuals becomes unable to work.

In some cases, certain types of life insurance can be arranged through a limited company rather than personally. This can sometimes offer tax advantages depending on the policy and company structure.

If no partnership or shareholder protection planning exists, ownership may pass to the partner’s family. This can create challenges for remaining partners who wish to retain control of the practice.

Protection succession planning can help provide funds that allow the remaining partners to purchase the affected partner’s ownership share, helping maintain business continuity.

Yes, protecting vital members of your team and the income they generate can be an extremely useful protection strategy.

Read our guide: Key Financial Risks Facing Dentist Practice Owners