Many
people dream of being self-employed like Australian doctors. After all, the
healthcare professionals here don't have to answer to anyone but themselves and
get to keep their earnings all to themselves. However, being self-employed has
its share of difficulties.
One
such difficulty for these health practitioners is the absence of workers’
compensation. Unlike private employees, these doctors do not have an employer
who is legally required to provide compensation for medical treatment in the
event the doctor becomes sick or injured.
Similarly,
doctors do not have paid leave credits. If they do not work, they do not get
paid. This problem is compounded by the fact that doctors are constantly
exposed to dangerous diseases and other workplace hazards.
Fortunately,
such a scenario can be easily avoided by investing in income protection
insurance. Just as the name implies, this insurance policy covers you for any
lost income you may encounter due to either critical illness or personal
injury. This policy can easily be bundled along with a life insurance policy
for maximum coverage.
When
choosing income protection policy, deal only with experienced and dedicated
financial planners. Do not hesitate these professionals how the claim process
works and what documents are required. After all, the best financial planners
are the ones who can help you make a claim quickly.