Is there a discount for a group or practice cover?
Yes, there is a discount for group and practice cover.
If you have 3 or more people on the insurance plan, then you will receive a discount.
- 15% discount if there are 3 or more people on the locum insurance plan
- 20% discount if there are 7 or more people on the locum insurance plan
- 22.5% discount if there are 11 or more people on the locum insurance plan
Is locum insurance a legal requirement?
No, it is not a legal requirement.
However, some lenders may insist that locum insurance cover is in place to protect their investment. This could include a new business loan.
What is the NHS top up plan?
This is for GPs and doctors only.
If a GP or doctor is absent due to illness then you can claim locum cover from the NHS.
This is currently £1,734.18 a week.
Locums can cost £3,500 a week.
The NHS scheme pays out after 2 weeks of absence and runs for 26 weeks.
This is then reduced by half for the next 26 weeks.
LocumPlan’s NHS top plan ensures that you can meet the full gross earnings of the locum.
Are there different levels of cover?
Yes, there are different levels of cover. It can go up to a maximum of £3,000 a week for each person.
The level of cover you take can vary depending on:
- your gross weekly earnings
- the NHS reimbursement scheme
- a specific practice agreement
Our team of locum insurance specialists can help you work out what level of cover works best for you.
What level of cover do I need?
The level of cover depends on your gross weekly earnings or salary.
It is not based the number of sessions you work as this can vary due to workplace or profession.
Can I amend the cover mid-term?
Yes, you can amend your cover mid-term.
This allows you to make changes based on:
- a new colleague joining
- a colleague leaving
- just a need to change the levels of cover
Our team of locum insurance specialists are able to help you make any changes quickly and easily.
How long will the locum insurance policy pay out for?
Locum insurance can pay out for a maximum of 52 weeks. This is known as the benefit period.
Payment will start after the agreed deferred or excess period ends.
Does locum insurance cover absence due to accident or illness?
Yes, locum insurance covers absence due to accident or illness.
Locum insurance allows you to cover the financial cost of a locum who is employed to cover your work.
What is the excess / deferred period?
This is the period of time from when temporary total disablement (you are unable to work) to when your start to receive your locum insurance payments.
This length of this period starts from 2 weeks.
You can choose how long you want the excess / deferred period to be.
The longer the period, the cheaper your insurance premiums will be.
If you are unable to work due to an accident or illness contact your insurance company as soon as possible.
As a GP, do I need locum insurance if the NHS provides cover?
A locum can cost up to £3,500 a week. The local Health Authority in England, Scotland and Wales will cover £1,734.18 a week.
This is paid for up to 6 months and is then halved for a further 6 months.
This potentially leaves a shortfall of a minimum of £1,800 a week. This will need to be covered by the absent individual or practice.
The NHS cover only supports GPs working for the LHA. It does not cover other key staff.
The NHS scheme does not cover:
- compassionate leave
- maternity and paternity leave
- revalidation cover
- delay from holiday cover
Are locum insurance premiums tax deductible?
Yes, your locum insurance premiums should qualify as allowable deductions as a trading expense.
You or your practice should be able to deduct the cost of your locum insurance from your business profits when you submit your tax return.
What sum insured can I have?
You can insure each person for any amount up to £3,000 a week.
The insurance will meet the costs that would not be funded by any other means.
You can either insure up to £3,000 a week, or you can use our locum insurance to top up the NHS scheme.
The NHS scheme currently only covers £1,734.18 a week, while locums can cost up to £3,500 a week.
In our experience most NHS practices will have cover in place to insure against absence.
What happens if I can’t find a locum?
We know it is not always possible to find a locum, so it is possible to use the locum insurance to cover internal costs.
If you would prefer colleagues to provide cover, then the claim will pay the lesser of the weekly sum insured.
It will also pay 100% of the absent person’s gross weekly wage for up to 52 weeks (after the expiry of the excess period) or until the person returns to work.