The Covid-19 pandemic has ensured that the past 12 months has been the most challenging period of time for the NHS and most importantly, NHS employees. 

NHS professionals are exposed to so much stress and anxiety – the sheer workload, the grief of losing patients, colleagues and loved ones. It is fair to state that many will be impacted by some form of mental health deterioration during their working life. 

 

According to the Office for National Statistics, two of the four most common reasons for sickness absence are 

 

 

Those two reasons for absence from work are not covered by life insurance or critical illness policies but they are covered by Income Protection Policies.  

 

Accordingly, it now seems that Income Protection is the most desired employee-benefit. 

As a result, Dr D bought an Income Protection policy that dovetailed with the NHS sick pay scheme. It meant that, if he was off work for long term sickness or disability, he would receive: 

 

 

That 60% of his annual pre-tax NHS income translates to £2,650 tax-free per month, until he returned to work or reached retirement age of 65 years. 

 

 

In late 2019, Dr D became ill with severe depression. Sadly, the long demanding hours and the chronic trauma had left him feeling overwhelmed, anxious and emotionally drained: he was unable to carry-on performing his role and he was ‘signed-off’ work. 

 

The Income Protection Policy, however, meant that Dr D was able to continue to focus on his treatment and on his family, without having to worry about the family’s finances. 

 

Dr D will continue to benefit from the monthly tax-free income protection payments of £2,650; the policy also gives him access to free support and rehabilitation services. The support ranges from topics that trigger stress or anxiety, such as finances, relationships and legal issues, but it also gives him access to dedicated mental health counsellors, if needed. 

 

Had the Income Protection Policy not been in place, Dr D and his family would have experienced financial difficulties that, in turn, would have exacerbated his mental health condition and prolonged his recovery. 

 

Mental health awareness is growing all of the time and luckily for this family, such issues were identified and supported from day-one. 

 

An Income Protection Policy should be everyone’s safety net against loss of income as a result of mental health issues, musculoskeletal problems and other physical conditions. Just as associated fees often mean that the most attractive mortgage rates prove more expensive than higher interest rates, a cheap income Protection premium isn’t always the most appropriate for applicants: additional add-on benefits are often worth the extra cost. Advice is required from a specialist and it is worth noting that all insurers’ premiums are discounted by Income Protector. 

 

A mental health condition or a musculoskeletal problem can occur at any time in our lifetimes - Income Protector is here to provide support to our NHS professionals. 

 

Nigel Osgood, Independent Mortgage Broker & Insurance Adviser