Doctors Lack Clarity on Insurance – Report

PPS Mutual’s State of Health & Wellbeing in Medical Professionals report shows that most medical workers have faith in their insurance products, but some don’t fully understand the benefits they offer.

The survey of 442 medical professionals, conducted by Lucidity Group on behalf of the insurer, shows that while IP is the most confidently held cover (62%), mid-career professionals reported the lowest levels of clarity.

Elsewhere, while 85% of respondents expressed confidence in their cover, only one in three said they fully understood the potential financial impact of a major health event.

PPS Mutual’s CEO Michael Pillemer said the research provides a call to action for advisers.

“High-quality risk advice doesn’t just mean having cover in place, it means helping professionals truly understand how that cover works,” he said. “How it protects their livelihood, and how it evolves as their career changes.

“That combination of clarity and tailored protection is what transforms confidence into assurance, and ultimately helps clinicians sustain the purpose that drives them.”

This is PPS Mutual’s second major study into the wellbeing of professional groups in Australia, following its inaugural 2023 research into accounting practitioners.

A copy of the latest report can be obtained from PPS Mutual’s distribution team.