For doctors and medical professionals, insurance is more than a safety net. It is the foundation of protecting income, assets, and family security. The challenge is that most professionals either take out cover early in their career and never review it, or rely on generic policies that are not tailored to their unique risks. Policy structuring and review is about making sure your cover is appropriate, cost effective, and aligned with your financial strategy.

The right structure determines how policies are owned, how premiums are paid, and how benefits are taxed. For example, income protection can be owned personally or through superannuation. Each choice comes with different advantages and drawbacks. Life and TPD insurance may also be structured through superannuation to reduce cash flow strain, but this can impact how quickly benefits are paid or how they are taxed. Without proper structuring, policies may be less effective when they are needed most.

Regular review is just as important as the initial setup. Doctors’ circumstances change as careers progress. Income increases, families grow, debts change, and practice responsibilities expand. A policy that was suitable five years ago may now be outdated or insufficient. Premiums can also increase sharply over time, making it essential to compare options and adjust cover before costs become unmanageable.

A well-structured and regularly reviewed policy suite ensures that medical professionals are protected against the financial consequences of illness, injury, or death, without paying for cover they no longer need. It provides confidence that if life takes an unexpected turn, your family, practice, and lifestyle will be safeguarded.