Can nurses get income protection?

Yes, a nurse could secure income protection.

Income protection for nurses works the same as income protection for any other occupation.

It’s simply a form of financial protection that could pay out up to 70% of your usual monthly income if you’re unable to work for a period of time due to illness or injury.

Working as a nurse is a high-pressure career and it’s common for health workers to suffer illness or injuries related to their job.

Nurses will usually have access to NHS sick pay if employed by the NHS. However, the amount you’ll receive will depend on your length of service.

If you aren’t an NHS nurse, you may have access to SSP (statuary sick pay) or an alternative sick pay scheme from your employer.

Regardless of your sick pay benefit as a nurse, it’s important to have an extra layer of financial aid to top up your sick pay during half pay periods or to provide cover once your sick pay as come to an end.

In this comprehensive 2024 guide on income protection for nurses, we answer:

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Nurses income protection key points:

  • Could pay out up to 70% of your regular monthly income
  • Tax free monthly payments
  • Could mirror your NHS sick pay
  • Could include no HIV exclusions
  • Policy could include up to two years sabbatical cover (this allows you to continue your policy during your sabbatical leave providing you continue to pay your premiums)
  • Can help cover essential monthly costs (mortgage payments, childcare, depts)

What is nurses income protection?

There isn’t technically such thing as ‘nurses income protection’, it simply refers to an income protection policy taken out by a nurse.

Income protection can cover up to 70% of your income in tax-free monthly payments, in the event that you’re unable to work due to illness or injury.

Unlike government funded sick pay, when working in the NHS you’ll receive sick pay based on your length of service. You’ll receive full pay for a certain period, followed by a period of half pay.

With certain policies, nurses income protection can allow you to select a deferred period which will align your payments with your sick pay schedule.

As a nurse, you could have access to specialist income protection (as well as doctors, NHS workers or medical workers).

This is where there are terms and conditions that are accommodating to those in the medical profession, covering illness/injuries you may suffer from due to work and allowing your deferred period to work with your sick pay schedule.

For example, one specialised term commonly included is having no exclusions on conducting HIV.

Find your personalised quotes through Reassured today to safeguard your income.

Why do nurses need income protection?

Just like anyone else, having financial protection in place can help nurses stay afloat in times of need.

Regardless of your occupation income protection can replace your earnings and help cover costs such as:

  • Rent/mortgage payments
  • Food shops
  • Household bills
  • Childcare
  • Other living expenses
  • Loans or debt payments

Many people don’t have savings, so taking time off without your full monthly pay can be a struggle to keep on top of financial commitments.

It’s also common that many people don’t take time off work when needed as they can’t afford to keep up with the cost of living when they aren’t working.

Being a nurse can be a mentally and physically demanding career path, therefore it’s important to know you have the option to be able to take time off if necessary (due to illness or injury) - without missing out on income.

In March of 2023, the absence rate for nurses and health visitors was 5.3% (equating to 575,177 full-time days lost over the month). The most common reason for this absence was due to mental health, with conditions such as stress, anxiety and depression accounting for 507,100 full-time lost days[1].

By having income protection, you’ll have peace of mind that you can put your health and wellbeing first. Having a policy in place means if you ever struggle with both physical and mental health conditions, you’ll be able to take time off without having to worry.

Please note that you have to be signed off work by a doctor and meet the definition of incapacity within the policy in order to make a claim.

How much income protection does a nurse need?

By simply filling in your financial commitments in to the income protection calculator below, you can discover how much income protection you may need:

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£723 a month is the average monthly mortgage payment in the UK, with the average monthly rental price coming in at £700.

The majority of our monthly income will go towards rental or mortgage payments.

For this reason, it’s essential to have precautions in place to ensure you could keep up to date with your payments if you weren’t receiving your usual income.

Monthly income protection payments can help to cover this large expense and ensure you can stay in your home.
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According to the Money Advice Service, the average household spends £340 a month on household bills.

This includes electricity, gas, TV and broadband.
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Childcare costs are on the rise with it now costing £137.69 per week for part-time nursery for a child under the age of two.

That’s over £550 per month - is this an amount you’d be able to keep up with if you were unable to work?

Becoming ill could also result in the need for additional childcare while you attend doctors’ appointments or medical treatment.
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The average household in the UK spends around £97 a week on their food shop, totaling £388 a month.

While this may seem like a small amount in comparison to some of the other expenses mentioned, the food shop is often where we try to scrimp and save when we fall on hard times.

Income protection can take care of the cost of your weekly food shop, as well as many other essential costs.
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At the beginning of 2020, credit card debt in the UK was at £2.1 billion, with almost 27 million UK residents in some kind of debt.

Becoming unable to work could make it hard to keep up with credit card or loan payments (including car finance or other financed goods).

Failure to keep up with payments could result in additional interest being incurred or late fees issues - resulting in a higher total needing to be paid.
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The average spent on public transport each month comes to an average of £94.

This includes the cost of public transport, as well as petrol and diesel vehicles.

While this amount may reduce while you’re unable to work as you won’t need to commute there may be additional spending on public transportation if your illness or injury leaves you unable to drive.
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Your total cover estimate

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Reassured have also written a detailed income protection insurance calculator UK article, including additional information.

Best income protection for nurses

The best income protection provider for you will depend on your own personal circumstances.

When considering what income protection is best for you, you may want to think about:

  • What you want to cover
  • Your current salary
  • Your budget
  • If you receive NHS sick pay (and if so, how much)

Below is a table comparing some of the top UK insurers who also offer special terms for nurses:

InsurerPolicy age restrictionMax % paid outPolicy termMax benefit amountDeferred periodSpecial policy features for medical professionals
aviva logo 18 - 59Up to 65%

5 - 52 years (must cease by age 70)

£20,000 per month4, 8, 13, 26, 52 or 104 weeks- NHS sick pay arrangement
- Life change option
- Overseas and Sabbatical cover
- No automatic exclusions
Legal & General logo 18 - 59Up to 60%Min 5 year (term ending is up to you - must cease before age 70)£20,000 per month4, 8, 13, 26 or 52 weeks- NHS sick pay protection for nurses
- £3,000 income guarantee
- Stepped deferred period
Royal London logo 18 - 59Up to 65%5 - 52 years (must cease by age 70)£250,000 per year4, 8, 13, 26 or 52 weeks- Sabbatical cover
- Min benefit amount of £3,000
- Special deferred period (to match your
- NHS sick pay schedule)

(Policy information correct as of 22/11/24)

Reassured are able to provide fee-free quotes from the providers listed above and more, to help you become a step closer to protecting your income.

How much is income protection for nurses?

The cost of an income protection policy can vary due to factors such as:

FactorHow does it impact cost?
AgeThe cost of your policy is generally less when you’re younger. This is due to the fact that as you age, the probability of ill health increases.
Smoking statusIf you’re a smoker this will inflate the costs of your premiums quite drastically. This is due to a higher risk of contracting a serious disease.
Health & medical historyIf you or a family member have or have previously suffered from a serious illness, this can increase the likelihood of claim in the eyes of insurers.
OccupationIf your job is deemed as ‘high-risk’ you may pay more for a policy as there is an increased likelihood of having a job related injury or illness.
LifestyleSimilarly to having a high-risk job, having hobbies that are dangerous can affect your policy cost.
Definition of incapacityMost insurers only offer an ‘own occupation’ definition, this means you must be incapable of engaging in your designated profession in order to make a claim.
Length of payment periodWhether your policy is short-term (pays out a max of 1 - 2 years) or long-term (payments could last up until retirement). Short-term cover tends to be cheaper.
Length of deferred periodDeferred period options typically include 4, 8, 13, 26 or 52 weeks. Typically the longer your deferred period, the cheaper your premium.
Premium typeYour premium type could impact how much you pay throughout the lifetime of your policy. Options include:
1. Guaranteed - Premiums remain the same
2. Reviewable - Premiums can change over time due to criteria (e.g change in risk)
3. Age banded - Premiums increase as you get older


This is to calculate likelihood of a pay out from insurers. If you are seen as high-risk, your premiums may be more.

This pricing table shows examples of quotes for how much you could pay for income protection as a nurse.

Quotes are based on a non-smoker in good health, with an average annual income of £35,000. Cover is until age 65 with a 6 month deferred period and a payment period of 12 months:

AgePrice per month
20£7.32
25£8.46
30£9.60
35£10.00
40£10.73
45£13.41
50£16.56


Standard income protection starts from 20p-a-day through Reassured, get in touch for your free quotes.

Compare Income Protection Quotes for Nurses »

NHS sick pay

If you’ve been employed by the NHS for 5+ years, you could have access to NHS sick pay for up to a year.

However, once you’ve reached the five year mark, you’ll have reached your maximum allowance.

The table shows how much sick pay entitlement NHS workers can receive in their first 5 years:

Length of serviceFull payHalf pay
First year of service1 month2 months
Second year of service2 month2 months
Third year of service4 month4 month
Fourth year of service5 month5 month
Fifth year of service6 month6 month

Source: https://www.nhsemployers.org/publications/tchandbook

What does income protection for nurses cover?

Income protection for nurses can cover a wide range of illnesses and injuries.

Most illnesses and injuries are covered under income protection. Your condition must simply meet the definition of incapacity listed in your policy and you must be off work for longer than your deferred period.

When working in a medical environment, you’re more exposed to the likelihood of injuries and illness. So, when taking out cover with specialist terms for medical professionals, you may benefit from more comprehensive cover. For example, cover for HIV and other needlestick diseases.

Mental health conditions are also common within the medical industry. Depending on medical history, mental health conditions can be covered by your policy.

Am I eligible for nurse income protection?

For standard income protection cover you simply need to be working a specified number of hours per week (usually over 16 hours) to be eligible.

However, if you’re securing an income protection policy with specialist features for medical professionals, you must officially be a nurse in the UK, registered under:

Life insurance for nurses

Having your income covered if you ever become unwell or injured is important, especially if you have many financial commitments.

But what if the worst were to happen to you and those commitments were left behind for loved ones?

Both income protection and life insurance are equally as beneficial but for different purposes.

Life insurance is a policy that pays out a lump sum to your loved ones in the event of you passing away. The pay out can help to cover key costs and expenses, such as the mortgage and/or funeral costs.

Life insurance key points:

  • Life insurance through Reassured can start from just £5 a month †
  • Lump sum pay out up to £1,000,000 (depending on your policy)
  • Cover for a set period of time or for the rest of your life
  • Help financially aid loved ones when you are no longer around

Compare nurse income protection quotes

As a nurse, your time is valuable and it’s understandable that you wouldn't want to spend it researching various policies, especially when you’re unsure about what exactly you’re looking for.

That’s why having a professional on hand can help you save money and time.

It’s estimated that a third (34%) of adults have no savings[2], if you’re part of this percentage, it’s vital to protect your income. You never know when you may need it.

The Reassured team will be able to help you find your perfect policy by comparing quotes from all the UK's leading insurers.

Quotes are fee-free and with no-obligation, meaning you’ll receive a personalised quotes stress free.

Offering a whole of market comparison service for income protection, through our advised team, you’ll be able to browse all options and find the right policy for your needs.

Why not get in touch with one of the friendly professionals at Reassured today and protect your future?

Find Your Best Income Protection Quotes »

Sources:

[1] https://www.nursingtimes.net/nurse-wellbeing/over-half-a-million-work-days-lost-in-march-due-to-nurse-sickness-28-07-2023/

[2] https://www.money.co.uk/savings-accounts/savings-statistics

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