27
Mar
Several life insurers recognise that, as a newly qualified medical professional, your current financials may not reflect your earnings potential
in the future. So they will allow you to apply for higher levels of cover without the need to provide upfront financials, including
guaranteed agreed value income protection.
Each insurer’s terms and conditions will differ, and may change from time to time. But at least one insurer offers the following at the time of writing :
- Newly qualified Doctors can receive up to $10,000 per month benefit on a guaranteed agreed value basis for income protection insurance. This is equivalent to insuring an income of $160,000 per year.
- If your income is less than $160,000 p.a. insurers may recognise your earning potential and lock in this higher income without further applications or financial underwriting.
- This level of cover can be secured without financials or tax returns. Amounts are guaranteed by the insurer if you are working full time and provide proof of qualification within the last 3 years
Other requirements, such as evidence of good health will be required. Contact Experien Insurance Services here for more details.
