General Practitioners

Income Protection for General Practitioners

  1. Self employed GP: Income protection is a very valuable safeguard for a principal GP. The GMS will pay you a certain amount of sick pay which is dependent on your list size and also on your illness. Your issue is that the cost of hiring a locum will exceed the income you will receive from the GMS and you will left with no income.
  2. Salaried GP: As a salaried GP you will be dependant on what your employer will pay you as sick pay. This will likely end after a few weeks and your income will then be circa €12,500 from the state sick pay scheme.
  3. Financial Security: If you become unable to work due to illness orinjury, income protection can provide you with a regular income to help coveryour living expenses and financial commitments.
  4. Peace of Mind: Knowing that you have a financial backup plan can reduce stress and allow you to focus on recovery without worrying about your finances.
  5. Long-term Coverage: Unlike short-term sick pay, income protection can provide coverage for an extended period, sometimes until retirement age, depending on the policy.
  6. Tailored Policies: You can choose a policy that suits your specific needs, including the level of cover and the waiting period before payments start.
  7. Family and Dependents: If you have a family or dependents relying on your income, this protection ensures they are financially supported if you can't work.

Income Protection can ensure that you have up to 75% of your Income protected in the event of illness or Injury.

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Why Do You Need Income Protection?

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Your Expenses Don’t Stop

Your financial responsibilities continue. Income protection ensures you can meet your commitments.

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State Benefits Not Enough

Government supports may not be sufficient to cover your professional and personal expenses.

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Peace of Mind

Knowing that your financial future is secure allows you to focus on recovery without added stress.

Dr Vladka Vilimkova

"Dr Vladka was diagnosed with cancer in late 2012 and has undergone four extensive surgeries since. Unfortunately the treatments have resulted in a significant loss of arm/shoulder mobility, rendering her unable to work for the foreseeable future. Vladka’s Income Protection policy has provided her with a weekly income since her first diagnosis and will continue to do so as long as she is unable to work."

Dr Emma O'Hara

"When I applied for income protection in 2013, I was in perfect health. Then suddenly I found myself laid up with broken bones from a serious car accident. I had barely paid my first premium, but Omega honoured their word. I never had to worry about payment, and the claim form was simple and quick. It was one major headache I didn’t have to deal with. I would recommend every professional to seek income protection, because you never know what lies ahead."

Simon Coughlan

"I like to keep fit and healthy and it is rare that I am unable to work due to illness. However in recent months I have claimed on two occasions for 2 days of lost income as a self employed business owner. The claims process was swift, DG kept me informed and the claim was paid within 7-10 days. Overall I have found the support provided by DG and Omega Financial to be excellent and would recommend highly."

Seamus Ryan

"As a general dental practitioner who owns a mixed private/GMS practice I thought it was essential to have Day One income protection against a rainy day. Practices have so many hidden costs that a considerable down time would put real strain on the every day running of the practice so I felt Day One protection was essential. Covid-19 was one of those down times. Overnight the practice shut its doors and all sources of income were lost."

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