"I have known David Henderson for seven years and during that time, he has had full control of my financial investment portfolio through retirement and the consequences of adjustment to widowhood. I have never had any cause to doubt his skilled advice and commitment. This has been delivered through a friendly and totally reliable relationship. I have regarded him as a trustworthy friend and in terms of the financial manoeuvres, his practical adjustments have (thus far in a volatile world!) all been safe and successful. He has been helpfully reassuring at times based on an extensive knowledge of theway the markets and global economy works I find this very educational. I have recommended his services to several friends all of whom have commented most favourably after his input totheir finances."
- Independent Advice
- NHS & State Pensions
- Retirement Planning
- Estate & Tax
- Risk & Protection
Income Protection Plans
In the event that you are unable to work due to an accident or illness, you can arrange protection that will provide a level of ongoing income to replace lost earnings.
If you are employed by the NHS or University, you will receive sick pay, which can be up to six month’s full pay, followed by six month’s half pay; however M+DFPS can assess the amount of individual cover that you may still require, and the appropriate time period suitable for your needs, and dovetail this with any employer sick pay benefits.
Income protection is a tailored product you should consider as part of you financial planning: there are choices as to when it will start to pay out, how long it will last for, what constitutes an inability to work*, how much cover to buy and whether to link that to rising prices.
We have many years of experience dealing with GPs and dentists who are self-employed and we can work with you to advise on your requirements, considering the specifics of your partnership agreement.
In our experience, more than 90% of doctors and dentists implement replacement income cover, as it underpins all elements of your financial planning, and it may be required right through until normal retirement age.
Starting income protection cover early in your career, even if you have no family responsibilities, is more cost effective and provides guaranteed insurability rather than waiting until circumstances change at a later point in your career.
Remember, if your objectives or capacity for potential losses change, for any reason, let us know immediately.
*M+DFPS always recommend that ‘OWN’ occupation basis is selected for all doctors and dentists, as there is a higher probability that benefit will be payable in an event of a claim. This essentially means that the cover is in place and will continue to pay out from the appointed date after you cease being able to work as a doctor or dentist, until you can resume that professional role.