How much insurance do I actually need?
Updated: Aug 19
If you’re a registrar nearing fellowship or a newly minted specialist juggling a mortgage, childcare, and an unpredictable roster, insurance is not about worst-case thinking; it’s about protecting choices.
The right cover keeps your household stable, your debts under control, and your long-term career options open if life throws a curveball.
No magic formula exists. But after years of working with medical professionals, I've developed a framework that works.
There’s no single “right” formula. The right cover lets your family stay put, your kids stay in school, and you recover or retrain without financial panic. For many doctors and dentists, that means a sensible blend: life/TPD to clear debts and fund several years of living, a year of trauma cover for breathing space, and income protection calibrated to your true cash flow needs.
If you haven't reviewed your cover in two to three years, it's time. If you’d like a pragmatic, specialty-aware review of your current cover or help deciding where to self-insure versus transfer risk, reach out. We do this every day with clinicians at your stage, and small tweaks can make a meaningful difference.
Book an obligation-free consultation to make sure your cover aligns with your needs and skills.
