Insurance is a plan that is necessary for everyone. Wise people always recommend taking life insurance for the safety and convenience of their families. In today’s time, there is no option of term life plan. This is a pure risk protection scheme. On the other hand, health insurance plans have to cover hospital expenses in case of any emergency. It provides cover against the cost of treatment of the disease. Everyone talks about taking insurance from common people and explains its benefits, but sadly, no one recommends insurance plans for doctors. Why? Doctors also need insurance like any normal citizen. So through this article, we are going to give you information about insurance plans for doctors.
Why Doctors Need Insurance Plans?
Doctors not only have to worry about the health of the patient, but they also have an external risk like professional companies. The patient’s relatives demand accountability from the doctors. Sometimes the relatives of the patient consider the doctor to be responsible for the patient’s condition, there is a lot of dispute between the family and the doctors and many times the family kills the doctors. Many times doctors are accused and they have to fight legally. It is necessary to insure the doctors keeping in mind the following conditions –
Legal battle has to be fought
Often, doctors have to get into litigation. This is a major risk associated with this profession. Medical cases are difficult to control and predict. A doctor has many patients, although he has a responsibility to carry out his duties with full devotion, but sometimes the situation worsens. The patient’s relatives start behaving unpredictably. They have feelings towards the patient and they blame the doctor for any negative result. The family fights with the doctors and demands compensation. In many cases the courts are known to favor patients. When the case goes to court, doctors have to hire lawyers to defend themselves. It also wastes the time of the doctor and it can also be expensive to hire a lawyer. In such a situation, doctors require professional indemnity insurance. In such cases, if the court says, then the compensation expenses are borne by the insurance company. In addition, the insurer hires a panel of lawyers to defend the doctor. The premium of the plan depends on the specialty of the doctor.
Scuffles can be done with doctors
There are many cases in which the patient’s relatives dispute with the doctors and sometimes even scramble. The family members of the patient often accuse the doctors of negligence and exploitation etc. Many doctors and hospitals employ bouncers for safety. Many times the mob has also attacked doctors. Many times they get serious injuries in this. Some become disabled. Therefore doctors need cover against accidental injuries and disability. In such a situation, doctors can take a personal accident insurance plan. If you are a doctor and your clinic has expensive equipment, then you should take Burglary Insurance. A fire can occur at the clinic anytime and all your equipment can burn. Doctors also need a fire insurance plan to protect their property from fire damage. You can get a fire insurance plan with an insured amount of 25 lakh rupees for only 2500 to 3000 rupees. The cost of public liability insurance of 50 lakh rupees is about 6 thousand to 7 thousand rupees.
What is professional compensation insurance?
Professional indemnity insurance covers legal costs and expenses if you are accused of providing inaccurate advice or services to a client (a patient in the case of doctors). Professional indemnity insurance should be availed by engineers, architects, doctors, chartered accountants and lawyers to protect their businesses from legal claims. Insurers also provide group cover in case of professional indemnity insurance scheme. A discount on insurance premium is provided based on the number of members added to the Professional Indemnity Insurance Scheme. It provides cover against legal liabilities such as loss or injury to property of a third party due to omission, error or negligence. You can claim only during the insurance period, so you have to renew the plans on time. The plan does not provide cover for claims made before or after the policy term.