Working as a locum clinician offers undeniable benefits: flexibility, control over your schedule, and often, higher earning potential compared to a salaried NHS role. However, this independence comes with a significant trade-off. As a locum, you are essentially your own business, which means you lack the traditional safety nets provided by an employer.
The Risk of Variable Income
The most glaring vulnerability for a locum is the absence of employer sick pay. If a salaried NHS doctor falls ill, they typically receive six months of full pay followed by six months of half pay. If a locum doctor falls ill, their income drops to zero the very same day.
This creates a precarious financial situation. A sudden illness, a sports injury, or a necessary period of recovery following surgery can immediately halt all earnings, putting your mortgage, lifestyle, and family’s financial security at risk.
Curious about the impact? Use our Clinician Income Protection Gap Calculator to see exactly how quickly your income could disappear if you were unable to take shifts.
Tailoring Your Protection
Many locums delay arranging income protection because they believe their variable income makes them ineligible, or they assume the underwriting process will be too complex. While standard policies may struggle with fluctuating earnings, specialist Income Protection is designed precisely for these scenarios.
A specialist adviser can help you structure a policy that accurately reflects your locum earnings, often by averaging your income over the past 12 to 36 months. They can also advise on appropriate deferment periods; since you don’t have NHS sick pay to rely on, you may need a policy that pays out much sooner (e.g., after 4 or 8 weeks) than a salaried colleague would.
Protecting your income is the foundation of financial stability for any locum. Read our comprehensive Locum Clinician Income Protection Guide to understand your options.
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