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The following is a précis of the cover.
Please read the Policy Wording for the full terms, conditions, definitions and
exclusions.
What is LocumPlan?
LocumPlan is an annual insurance underwritten by
certain syndicates at Lloyd's. It
is designed to meet locum costs incurred by, for example, medical, dental,
veterinary and ophthalmology practices if one of the doctors, dentists,
vets or a senior practice staff member is ill or has an accident. The
insurance will pay up to the weekly sum insured until the individual
is able to return to work (up to a maximum of 52 weeks, whichever is sooner).
LocumPlan also
pays up to £250 a day for a maximum of 31 days if an insured person
is summoned for jury service.
In addition, LocumPlan will pay a lump
sum of £5,000 if an insured person dies,
is blinded or loses a limb or is permanently totally disabled as the result
of an accident.
Both jury service cover and the personal
accident benefits shown are automatically included at no extra charge.
Will I get advice?
LocumPlan is offered on a non-advised basis. This means that no advice is given by us. We will provide you with information and ask you a series of questions to determine whether LocumPlan is appropriate for you.
Who is LocumPlan for?
LocumPlan has been designed for GPs, dentists, vets, opticians and others
in similar occupations together with their senior practice staff.
Non-medical
personnel employed by the practice can also be included in the Scheme – to
a maximum of 75% of their gross weekly wage – unless
the cost of a temporary replacement would be funded other than by the practice
(e.g. by the Primary Care Trust).
What Sum Insured
can I have?
You can choose to insure each person for any amount
between £200 and £3,000 a week. The insurance is intended
to meet costs that would not be funded by other means e.g. by the PCT.
What will I be covered for?
You will be covered for
- accidents occurring anywhere in the world and
- illness arising anywhere in the world.
What are the exclusions?
The full range of exclusions is shown under each section of the Policy Wording. The General Exclusions in summary are:
- drugs and alchohol
- nuclear, chemical and biological weapons following an act of terrorism
- taking part in military operations
- taking part in aeronautics
- mountaineering, rock climbing
- racing
- self-inflicted injury
- war
- insanity
- radioactive contamination
- pregnancy, childbirth
- HIV/AIDS unless caused by needlestick injury
Please note that there is no automatic exclusion for anxiety, stress
or depression.
For how long is the Sum Insured paid?
The Sum Insured will be paid for as long as the insured person remains
temporarily totally unable to work, up to a maximum of 52 weeks after
the end of the excess period. If he or she returns to work before the
end of this period, the payments will cease.
What happens if I can't find a locum?
LocumPlan recognises that it is not always possible
to find a locum to cover when someone is unable to work. If this is the
case, or if you would prefer to arrange for colleagues to provide cover,
LocumPlan will pay the lower of the insured weekly amount and 100% of
the absent person’s gross weekly wage for 52 weeks (after expiry of the
excess period) or until the person returns to work, if sooner.
(Note that the maximum which will be paid in respect of non-medical staff is 75% of their gross weekly wage.)
How long does the insurance last?
The duration of LocumPlan cover is 12 months. This means that, shortly before the end of the year, we will contact you to ask you whether you would like to renew your cover and we will tell you what the premium and terms will be for the forthcoming year. At this stage, you may wish to review who is covered, adding in new colleagues or employees or removing colleagues or employees who have left.
What is the age limit?
We can insure people from 18 to 65 attained. Those
aged over 65 require special consideration by our underwriters.
What is the excess period?
The excess period is the initial period, after the
illness or accident, during which the sum insured will not be paid. The
longer the excess period, the lower your LocumPlan premium will be.
Most people select one of the following excess periods:
- 2 weeks
- 4 weeks
- 6 weeks
- 8 weeks
- 12 weeks
- 24 weeks
On request, we can consider other excess periods. The period you choose
will depend on the circumstances relating to your practice. The members
of your Scheme can have different excess periods if required. Your chosen period(s) will be shown in your Policy Schedule.
How much does it cost?
Premiums are extremely cost-effective. For example,
a practice would pay a premium of £1,147 (including Insurance Premium
Tax) assuming that 2 people are insured for £1000 pw each with
a 4 week excess period. Why
not get a Quote
for your practice? We will email your quote to you, in order to comply
with the Financial Services Authority's regulations which require us to
provide quotations in a durable medium.
What is the tax position?
You may be eligible for tax relief on the premiums
as a business expense of the practice – please consult your tax
adviser or your Tax Inspector.
How do I pay?
Premiums are paid by the practice and you can choose to pay in full by cheque/credit card, or in 10 monthly instalments (by direct debit). Monthly instalments are subject to a credit charge of between 5.25% and 6.5% depending on the premium.
Insurance Premium Tax (IPT)
IPT is a tax on the premium you pay for all general
insurance policies where the risk is located in the UK. This includes
LocumPlan, as well as motor, household, travel and other protection cover.
Life insurance policies and long-term plans with an investment element
do not attract IPT. It was initially introduced at 2.5% on 1st October
1994 but was increased in stages to the current rate of 5% in July 1999.
IPT is automatically included in the premium we quote.
How do I set up cover for my practice?
Cover needs to be set up in the name of the practice
as it is to the practice that the sum insured will be paid in the event
of a claim. The practice will be named on the Policy Schedule
as the ‘Insured’.
If you apply on-line you will be asked to complete a Scheme Application
which provides us with the name and address of the practice and contact
details of the person you would like us to communicate with at the practice.
This could be the practice manager or one of the partners.
Prospective Scheme members will then be prompted to complete their own
Member’s Application. Since we need to ask questions relating to
the individuals’ medical history, the prospective members must complete
the Member’s Application personally.
Both the Scheme Application and the Members’ Applications are submitted
to us electronically for onward transmission to the Underwriters.
We aim to give you a decision on whether we can accept your application within 24 hours of its receipt.
Once acceptance terms have been agreed and you have paid the premium (or supplied us with the practice’s bank details, if you wish to pay by monthly instalments) cover can be set up for your practice.
If you would prefer to apply off-line, please either print the proposal form or call us on 0845 8500 205 and we will send you the necessary forms.
Can I amend the Scheme membership mid-year?
Yes. If you wish to bring in new colleagues or if colleagues
leave, just let us know and we will amend the cover to reflect your new
situation.
How do I make a claim?
It is important that you let us know as soon as possible
if you think you need to claim. We will ask you to complete a claim
form to be sent to the Underwriters, who will then let you
know whether any additional information e.g. medical reports are needed
to assess your claim.
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Locumplan for Vets
