Stephen Barry explains the value of income protection in private practice to replace the safety net of NHS sickness benefits.
One of the most powerful ways to bring to life the importance of protection is putting it into perspective. With that in mind, I often approach protection with clients when discussing the move from NHS to private with scenarios. As an example:
A dentist – we’ll call her Dr A – recently left the NHS after more than a decade. She moved to a private associate role, driven by the potential for more time with patients, greater clinical freedom, and higher earnings.
Everything was going well. Her income had increased, the workload felt more manageable, and she was enjoying a renewed sense of control.
But three months in, she developed a painful repetitive strain injury in her wrist – something increasingly common in dentistry due to the nature of the role. The pain quickly became so severe she could no longer carry out even the most basic procedures.
She had to stop working.
What happens when the work stops but the bills keep rolling?
When Dr A was still working in the NHS, she was eligible for payments after an initial four-week period of sickness absence, with a maximum duration of 22 weeks – a benefit that often goes unnoticed until it’s gone.
But now in private practice, she had no such safety net. With no income protection in place, her earnings stopped the moment she did.
Meanwhile, the financial commitments continued: her mortgage, bills, family commitments – and, as an associate, potentially some business-related expenses too.
In a matter of weeks, the security she’d worked hard to build started to feel precarious.
The NHS safety net: often invisible until it’s gone
This hypothetical example highlights a reality I see all too often. The shift to private practice can offer greater opportunity – but it can also expose you to greater risk.
When you’re in the NHS, there’s often an underlying assumption that you’re protected. But the moment you move into private dentistry, you become your own business – and the income depends on your ability to work.
That means protecting your health becomes more than a physical concern – it becomes a financial one.
Where income protection fits in
Had Dr A taken out income protection cover before moving to private practice, the financial impact of her injury could have been dramatically reduced.
Income protection is designed to pay out a portion of your income if you’re unable to work due to illness or injury. It continues paying out until you recover, retire, or reach the policy end date.
One of the key features dentists should look for is ‘own occupation’ cover. That means you’re covered if you’re unable to work as a dentist – even if you could technically do another job.
It’s not just for life-changing diagnoses either. For the Wesleyan income protection plan, the top reason dentists needed to make a claim were due to musculoskeletal issues.
In 2024, Wesleyan paid 100% of income protection claims made by our dental customers – demonstrating not only how tailored the cover is, but how dependable it can be when it matters most.
Don’t wait for the warning sign
It’s all too common for dentists to start thinking about income protection after a scare – whether their own or a colleague’s. But by then, it can be more difficult or expensive to get the cover you need.
The best time to act is as you make the move to private practice, or as soon as possible after. That’s when your health and income profile are strongest – giving you more flexibility and better peace of mind.
Moving to private practice is a positive step. But it also means taking full ownership of your financial resilience. Your ability to earn is your most valuable asset. Let’s make sure it’s protected.
You can have a conversation with a dental specialist financial adviser at Wesleyan Financial Services by visiting wesleyan.co.uk/dental or calling 0808 149 9416.
Please note: charges may apply. You will not be charged until you have agreed to the services you require and the associated costs. Learn more at www.wesleyan.co.uk/charges.
This article is sponsored by Wesleyan Financial Services.
