Income protection insurance for nurses is a type of sick pay insurance that can cover up to 70% of your gross annual earning if you are unable to work due to an illness or accident. The insurance will kick in once your NHS sick pay stops paying out, to ensure you receive a steady income stream meaning you can continue to pay your bills, for example, your mortgage or rent, utility bills and put food on the table.

Quite often, these policies can be specifically tailored with a deferred period to fit around your existing NHS sick pay policy.

However, if you are an agency or banks nurse, and receive no sick pay at all from your employer you will still qualify for income protection insurance for nurses. You are still entitled to up to 70% of your income, and this is calculated on your net income from your self-assessments.

Income Protection insurance for nurses is sold on an “own occupation” definition (as long as you work 16 hours or more per week). This means that as long as you are not able to do your own job due to accident or injury, then the policy will payout. Typically, the payout can last for up to 1 year, 2 years or until retirement age.