Life Insurance for Medical Professionals

Protecting the professionals who care for our health & wellbeing.


Medicine is a passion for thousands of committed Australian professionals. Caring for our physical and mental wellbeing is a noble and increasingly highly technical pursuit. But the stress of wearing many hats – clinician, business owner, technical and IT guru, and not to mention counsellor to worried patients – can take its toll on Australian doctors.

The last thing you need as a medical professional is more stress in your life when it comes to making important decisions regarding the protection of your most valuable asset – yourself.

The good news for medical professionals is that by being one of the professions insured by PPS Mutual, the only Life Insurance provider in Australia who currently offer life insurance products solely to a select group of professionals, with a profit share and who distribute the profit to its Members, you are eligible to apply for PPS Mutual Professionals Choice.

FAQs About Life Insurance for Medical Professionals

What types of life insurance can medical professionals get?


Life insurance is often used as an umbrella term to describe lots of different types of personal insurance. Some offer financial help during a temporary setback, while others pay a big lump sum following a life-altering event.

Here is a breakdown of the types of life insurance covers that can work together to provide financial security if you are injured or become too sick to work:


Income Protection Select

Income protection monthly payments are made to you and your family if you are no longer able to earn an income as a result of illness or injury.


Total & Permanent Disability

Total and permanent disability pays a lump sum if you are no longer able to work due to an injury or illness.


Business Expenses

Business expenses can help cover staff wages, rent, equipment, and any other fixed costs associated with running a medical practice/ business if illness or injury prevents you from working for a while.


Life Cover

Life cover if you die or become terminally ill, your family will be looked after with a lump sum paid to your estate or your beneficiaries. This can be used to cover family expenses (e.g. a mortgage) or ongoing medical care.


Trauma Cover

Pays a benefit if you’re diagnosed with critical medical conditions (such as Cancer e.g. aplastic anaemia requiring specified treatment; early-stage melanoma with specified severity and Cardiovascular diseases e.g. heart attack (myocardial infarction) with evidence of heart muscle damage). Trauma Cover is paid out upon diagnosis and benefits vary depending on the nature and severity of the sickness or injury.

How does life insurance work for medical professionals?


Life insurance works just the same for medical professionals as it does for other workers. It is there to take the financial stress off you and your family if your health takes a turn for the worse and you are unable to earn a living.

However, there are a few unique factors that medical professionals should consider, that other professionals don’t need to think about.


Blood-borne diseases

This option pays a lump sum to medical professionals who are accidentally infected by a blood borne disease at work.


Needlestick Injuries

Healthcare workers have a significantly higher chance of suffering from needle-stick injuries in the workplace.

Who is eligible?


There are 15 medical professionals eligible to take out a personal insurance cover with PPS Mutual, including Doctors, Dentists, Optometrists and Pharmacists to name a few.

For a full list of all of the eligible professions, PPS Mutal caters for visit this page.

What is unique about PPS Mutual for medical professionals?


PPS Mutual’s Professionals Choice Income Protection Select, Life, Total and Permanent Disability, and Trauma insurances have been developed with the sole purpose of meeting the insurance needs of Australia’s professionals. And being a Mutual, PPS Mutual is able to provide you with the unique opportunity to share in the profits of the personal risk insurance you buy.

In addition to the Profit-Share benefit, PPS Mutual has developed other unique features for professionals. These include:

  • Indexation for Professionals: benefits that increase in line with our Professionals Earnings Index
  • Professional events: the ability to increase your level of cover without providing additional medical evidence when certain events occur – such as starting a small business.
  • Caring for your child benefit – Allows Members to take time off to care for a sick child and receive their Income Protection benefit for up to 6 months.



Members of PPS Mutual will be entitled to a share in the profits of the Professionals Choice product. PPS Mutual Professionals Choice is the only product to offer this feature in the Australian Insurance market.

Indexation for Professionals

Being exclusively for professionals we are able to offer the option of having benefits increase in line with your salary, based on increases in our Professional Earnings Index or inflation, whichever is greater.

Professional Events

You can also increase your cover without having to provide further medical evidence when certain career events occur such as becoming a partner or starting in private practice

Flexible Premium Structure

A flexible premium structure provides for both a stepped and level premium structure for the one insurance type, allowing you to tailor your cover to benefit from the advantages of both premium structures.

True Level Premium

Premiums for any increased cover, from the application of the Indexation for the Professionals Benefit, is based on your age at the date of commencement of your cover and not your age at the time the indexation is applied.

Change of Ownership

The plan ownership may be transferred at any time with no underwriting.