📧 Financial Protection for Doctors

🔒 Doctors: Are You Protecting Your Wealth?
💰 The Unsexy but Essential Side of Finance for Medics
🚑 You Care for Patients—But Who’s Caring for Your Finances?

Financial Protection for Doctors: How to Secure Your Wealth

We work 40+ hour weeks, handle life-or-death decisions daily, and carry the emotional weight of caring for others.
But what about our own financial wellbeing?

One unexpected life event—a serious illness, a long-term injury, or worse—can unravel years of progress.

This newsletter isn’t about fear.
It’s about being smart, early, and prepared.

Here’s a brief guide to the 5 most important types of financial protection every doctor should consider.

🔹 1. Life Insurance – A Safety Net for Your Loved Ones

Your NHS pension includes some death-in-service cover—but it’s rarely enough to clear your mortgage or support a family long-term.
✅ Term life insurance is affordable and essential if you have dependents.
💡 If your family relies on your income, this is a no-brainer.

🔹 2. Income Protection – Your Backup Paycheck

What if illness takes you out of work for 6+ months?
✅ NHS sick pay drops off after a while—and private GPs or locums get nothing.
👉 I use PG Mutual—because my bills won’t stop if I get injured.
💡 It’s not paranoia—it’s planning for peace of mind.

🔹 3. Critical Illness Cover – A Financial Lifeline

This gives you a lump sum payout if you’re diagnosed with serious conditions like cancer or heart disease.
✅ It won’t replace income, but it buys time, treatment options, or breathing room.
💡 More young doctors are being caught off-guard by major health issues.

🔹 4. Property Insurance – Cover What You’ve Built

Your home is probably your biggest asset—protect it properly.
✅ Mortgage lenders require buildings insurance, but don’t ignore contents either.
💡 If you rent property, make sure you have landlord insurance—not just a standard policy.

🔹 5. Wills & Power of Attorney – Future-Proofing Your Legacy

Most doctors put this off for “later”—but accidents and illness don’t wait.
✅ A will ensures your assets go where you intend.
✅ Power of attorney ensures someone can act on your behalf if you’re unable to.
💡 If you have a partner, dependents, or property—it’s time to sort this.

🧠 My Advice?

Sort the boring stuff early.
It’s cheaper, less stressful, and one of the kindest things you can do for your family.

👉 Want the full breakdown, personal tips, and a checklist to take action?

It’s all inside the next chapter of my book:

Beyond the Stethoscope: Smart Finance for Junior Doctors
Coming out in later part of 2025

Kyaw