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Locum Insurance for Medical Professions

  • For Doctors

    GPs and Medical Practice Staff Read More
  • For Dentists

    And Dental Practice Staff Read More
  • For Vets

    And Veterinary Surgery Staff Read More
  • For Physios

    And Physiotherapy Clinic Staff Read More
  • For Opticians

    And Clinic Staff Read More
  • For Pharmacists

    And Pharmacy Staff Read More
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Protection for
You + Your Staff

At Approachable Finance (Medical) we provide locum insurance cover to reimburse your costs should you need to employ a Locum due to the unexpected absence of one of your regular practice members.

Our flexible locum insurance packages allow medical practices to tailor the type of cover required to meet the financial implications of a wide range of eventualities that cause staff absences.

Our mission is to save medical practices money on locum insurance without compromising cover, enabling reinvestment in care provision. We are financial consultants not sales people and we will be ethical and fair at all times in the advice we give and the services we provide.

Getting the Best Policy
For Your Practice

Cover for
Doctors

Our tailored locum insurance packages provide cover for doctors and medical practice staff.

Information About the Cover Available

Cover for
Dentists

Our tailored Dentist Locum Insurance packages provide cover for dentists and practice staff.

Information About the Cover Available

Cover for
Vets

Our tailored Vets Locum Insurance packages provide cover for vets and veterinary practice staff.

Information About the Cover Available

Cover for
Physiotherapists

Our tailored Physiotherapists Locum Insurance packages provide cover for physios and their staff.

Information About the Cover Available

Cover for
Opticians

Our tailored Opticians Locum Insurance packages provide cover for opticians and practice staff.

Information About the Cover Available

Cover for
Pharmacists

Our tailored Pharmacist Locum Insurance packages provide cover for pharmacists and their staff.

Information About the Cover Available

Frequently Asked Questions

Important information to help you understand the full details of your Locum insurance policy and ensure you have the right cover.

Locum Insurance FAQs

Approachable Finance Blog

Our Blog contains news, comments and opinions concerning changes across the financial sector and how they may affect your finances.

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Company Information

As specialist financial advisors we are able to compare and contrast all locum and practice insurance plans without 'bias'.

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Latest Blog Posts

Understanding Locum Insurance and Sickness Absence Funding

When a member of your practice is absent, it can be stressful and expensive. Especially if they are away for a prolonged period of time. In these situations, a significant strain is put on the rest of your practice or organisation, and this can sometimes reduce the level of care you are giving to your patients. 

In some cases, not having enough staff on hand to support the day-to-day running of operations can cause other individuals to burn out and get sick, which leads to further illnesses and absences. 

One of the best ways to avoid this cycle is to make sure you have appropriate locum insurance and sickness absence funding, so that your practice is able to cover the increased cost of working without your full team. 

What is a Locum?   

A locum, or locum tenens, is someone who temporarily fulfils the duties of another.The term is especially used for physicians but is sometimes used in other professions. This individual will step in when a hospital, practice or other medical organisation is short-staffed. 

Many of these locums will be provided through private agencies, but they will have specific agreements in place with the NHS and will still be governed by the same regulatory bodies as other doctors who have full time positions. 

Why Do I Need Locum Insurance? 

Doctors and other individuals in the medical profession are highly skilled and therefore difficult to replace. As such, you will need to hire a qualified locum who can diligently take on the role of the absent employee. Locum insurance packages can differ depending on your provider, but the most common features are: 

  • Cover the cost of hiring a locum due to sickness absence
  • Temporarily replace key staff members
  • Providesick pay to key employees who are absent

The majority of staff absences are unavoidable. Therefore, having locum insurance is necessary for protecting your practice and your patients. By covering a range of different types of absences, you can continue to offer quality care no matter what happens. 

What Does Locum Insurance Cover? 

Locum insurance is designed to cover you against the increased cost of operating as a result of a staff absence. It is also meant to support the ongoing delivery of quality services to your patients while members of your team are not present. 

Making a claim under your insurance policy can cover you for the costs of calling in a locum and providing sickness pay. It is designed to cover a range of different medical practices, including GPs, hospitals, vets, dentists and opticians, as well as pharmacists, osteopaths and chiropractors. 

Locum insurance can cover a range of different absence types, from sickness to personal accident and bereavement. We are seeing increasingly more stress, anxiety and mental health related illnesses in the NHS and private sector today too, and policies may be able to cover these absences to lighten the load on your practice’s staff. 

What If I Don’t Have Locum Insurance? 

Most medical practicesare busy places where handling patientsschedules and general tasks on a normal day can be stressful. However, with the loss of important resources such as medical staff, it can be difficult and leave you unable to provide your service to your patients. 

This can naturally result in a reduction of standards, or increase the risk of mistakes being made. Both will have a negative consequence on everyone involved. With a locum insurance policy designed to suit your needs, you can ensure that your practice can continue operating as quickly as possible in the event of staff absences. 

Important Points to Consider 

When choosing your policy, consider how your practice copes with staff absences. Some might be able to handle more strain than others, while many practices across the country will simply be unable to cope with the same workload and will need to resort to patient appointment rescheduling. 

It is possible to tailor your policy to suit your needs, meaning you can take out cover from the first day of any absences, or choose a deferment type policy which means you will be covered only after a period of 1 or 2 weeks, for example. Depending on what you need, your policy, and how much it costs, can be tailored to suit your needs better. 

Our expert advisers at Locum Insurance can help you choose the most suitable policy for your practice. Get in touch and we’ll help you find a policy that will let you keep offering the standard of services your patients deserve, no matter what happens.

Pension seminars

Martin Lewis of Money Saving Expert fame has described 2020 as a ‘savings horribillis’ and it is hard to argue! A major high street bank has cut its main savings rate by 0.5% with cash savings rates at record lows.  Most people’s average savings earnings are now around 0.4%!

Often people are unwilling to invest cash savings yet are happy to invest in pension. This is despite many of the underlying assets and risks can be similar. There seems to be an acceptance that pension ‘has’ to be invested but savings don’t?

There still remains a great deal of confusion with investors in regard to pensions and what options are available with their pension, on retirement, in regard to income and lump sum. The danger of pension freedoms is that many people are considering cashing in pensions, paying large amounts of tax and then putting that money in a bank when savings rates are at record lows!

For this reason Approachable Finance will be running some free, no obligation Retirement Seminars at our offices at 6.30pm on Tuesday 31st March and Thursday 23rd April. This is a perfect opportunity for anyone to come along in a group environment and get some information on retirement and savings planning. We look forward to seeing you and if it is of interest please RSVP as places are limited.