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A Glossary of Terms used in Medical Practice Insurance Policies.

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Insurance FAQs

Find the answers to common questions and queries regarding your locum insurance quote.

Locum Insurance

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Locum Insurance FAQs

Locum Insurance FAQs

  • What is different about sourcing our medical practice insurances through Approachable Finance? +

    The need for independent specialist advice has always been key for our clients. Although this has been available for the medical professionals we noticed that the business itself was having to source products from providers selling only one policy or a limited number. Our market research identified that practices managers wanted the reassurance of taking independent advice for their practice and locum insurance cover without feeling that they were only being offered 'one policy' and 'one solution' with the company having a 'vested interest'.
  • How do you get remunerated? +

    For locum and Surgery Insurance: At no time do we ask a 'fee' from the practice. Our hope is through our advice we will identify policies that not only improve the practices' quality of cover but could also save the medical practice significant money in their premiums. If we are successful in this we gain a commission from the company that we place your business with.
    As a financial advisor we offer our clients the opportunity for us to be remunerated through commission or fees or a combination of both. In the case of fees, a client fee agreement would be agreed prior to incurring any charges.
  • Is it cheaper to ring the insurance company direct? +

    The agreements we have with the specialist medical insurance companies we work with are that any prices quoted through us are the same as what you would get if you go direct. Often we are able to offer discounts or 'special offers' that we negotiate with the insurance provider, however they are subject to availability.
  • How many policies do you offer? +

    We are able to offer 'fair analysis of the market' on both surgery and locum insurance policies.
  • What is your policy in regards to sales calls? +

    First of all we do not share any information with 3rd parties. We don't believe 'pestering' people is the correct way to tender for business. We always respect our client's wishes to be contacted or not contacted as the case may be, as we appreciate you are busy.
  • What type of advice do you offer? +

    As a professional IFA we are able to offer 'a financial recommendation' for locum insurance unlike many insurance companies that can only offer 'information only' advice. The difference in taking a financial recommendation is key as all 'recommendations' are covered under FCA (Financial Conduct Authority) for regulated advice meaning we, as a firm, take responsibility for the fact we are advising you to take out a particular policy.
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