Looking After Allied Health Practitioners
Allied health workers have long been working quiet but busily along-side main stream medicos and are growing wider and wider acceptance as an essential element to the fabric of our health care system. They are often distinct to Doctors and nurses in skill set, are highly specialised through the completion of higher education qualifications and targeted clinical training.
The benefits that allied health brings to the table are far reaching. We are now aware that allied health services, used appropriately, have a profound, positive impact on the lives of consumers, as well as their carers and families. These synergies carry over to the community and the greater economy by enhancing the outcomes for the consumer enabling them to contribute faster and reducing the likelihood that more expensive interventions and treatments will be required later.
Who do we mean?
There are around 120,000 practising allied health professionals providing direct consumer care, including diagnosis, treatment and rehabilitation, often autonomously and across a variety of public, private and not-for-profit settings. It is estimated that they deliver over 200 million health services annually. Together with doctors and nurses, allied health professionals are regarded as the third pillar of health care providers in Australia.
Who are they?
They include but are not limited to; Physiotherapists, Occupational therapists, Psychologists, Dieticians, Podiatrists, Exercise physiologists, Speech pathologists, Osteopaths, Chiropractors, Audiologists, Music Therapists, Orthotist/Prosthetists, Pharmacists, Sonographers and Diversional Therapist.
What makes you unique?
Generally speaking your method of delivery is mostly autonomous and the fact that many of you are self-employed you are vulnerable to time out of your business. Your earnings are fundamentally dependant on your client facing time and your physical presence and ability to practice is crucial to retaining your client base. Time out of the business due to sickness, accident and or injury may haemorrhage your business.
What Can Del Castillo Investments offer?
Del Castillo Investments works with some of the most reputable insurers in the industry that are at the cutting edge of product innovation to deliver solutions and covers to meet your specific needs. Many products offered on the market do not specifically cater for Medical Professionals and as such do not take into account risk exposures particular to your industries.
At Del Castillo Investments we properly assess not only the amount of cover you will need but also the type of cover and the right mix;
- Term life (provides lump sum in event of death)
- Total and Permanent Disablement (provides lump sum in event of total disability)
- Trauma / Critical Illness (provides lump sum in event of specified medical condition)
- Income Protection (provides ongoing income to replace salary in event of temporary or permanent disability)
- Business Expenses (provides up to 1 year cover for ongoing business overheads in event of temporary disability of business owner or a key person).
Through our specialised product offerings we can get you specific medical benefits such as Needlestick Cover for medically acquired blood borne diseases such as HIV (Aids) and Hepatitis B and C. We know that there is strong incentive for you to continue working or to return to work in a limited capacity to protect your business and so we assess cover that can allow for this.
We also acknowledge that you can experience large increases in your income from year to year as your income grows or as a result of changes to your qualifications or experience and therefore look for features such as Guaranteed Future Insurability, the option to increase the monthly benefit for income protection usually by up to an additional 10 to 15% per year without any medical underwriting and with minimal paperwork. This gives peace of mind knowing that even if your health has changed over the years, you are not subject to fresh examination that may give rise to refusal of extra cover or application of price loadings or exclusions.
Alongside professional guidance to the literal mine field of personal insurance, we understand your time is precious and your greatest focus is the wellbeing of your patients, so we partner with you to take care of the you, that’s right you! When was the last time you heard that, never? We strive to look after the financial reality of your life, giving you peace of mind that your greatest asset is protected – your ability to first generate an income and secondly as a financial planning practice we are able to offer advice on investing for your financial future.
Newly Qualified Professionals
(Waiver of Mandatory Financials*)
In line with industry standards, it is expected that many new allied health professionals have significant earning capacity that has the propensity to increase considerably over the early period of their working lives, so we make it a point recognise and reward you with cover that takes this into account.
We look to those insurers that are prepared to provide maximum levels of cover for newly qualified professionals who have become registered or licensed within the last three years and are working full-time and generating an income that are prepared to waive the need for the usual financial requirements. We understand that you are unlikely to have a full year’s complete financials to support your income.
But one day you will, and we want to back you on that!
*Not all occupations are necessarily covered
To find out how we can help you protect your professional and business interest, fill out the Request a call form below!