Find out more about locum cover from LocumPlan
The following is a précis of the locum cover provided. Please read the Policy Wording for the full terms, conditions, definitions and exclusions.
What is LocumPlan?
LocumPlan is 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).
In addition, LocumPlan policies will pay a lump sum of £10,000 if an insured person dies, is blinded or loses a limb or is permanently totally disabled as the result of an accident.
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.
What Sum Insured can I have?
You can choose to insure each person for any amount up to £3,000 a week with LocumPlan. 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
- self-inflicted injury
- 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 lesser 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.
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 competitive and made all the more cost-effective if you are able to treat them as a trading expense (see below). Why not get a Quote for your practice? We will email your quote to you, in order to comply with the Financial Conduct 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 6.85%.
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. Insurance Premium Tax is 10% from 1 October 2016. IPT is automatically included in the premium we quote.
How do I set up cover for my practice?
Cover is usually 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.
New 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 installments) 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 0345 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.