Protecting a vet’s income: what income protection is (and why it matters)

If your income stopped tomorrow, how long could you keep up with your monthly outgoings?

It’s not a question most of us spend much time thinking about – particularly when we’re busy with day-to-day work. But in a hands-on, high-pressure profession like veterinary medicine, periods off work due to illness, injury or mental health are a real possibility.

More broadly, time off work is more common than many people expect. In the UK, millions of working days are lost each year due to sickness or injury, with employees off for an average of around 4.4 days per year.

If you rely on your income – whether you’re employed, self-employed, a locum or a practice owner – it’s worth understanding what would happen financially if you couldn’t work for weeks or months. That’s where income protection can help.

What is income protection?

Income protection is a type of insurance designed to pay you a regular monthly income if you’re unable to work due to illness or injury (and often including mental health conditions, depending on the policy), subject to policy terms, conditions and insurer acceptance.

Typically, it pays a proportion of your earnings (often around 50–70%) and can continue until you return to work, reach the end of a chosen claim period, or (for longer-term cover) up to a selected age such as retirement.

It’s not about making a profit – it’s about helping you cover everyday living costs such as mortgage or rent, bills and other regular expenses while you recover.

Why income protection is particularly relevant for vets

1) The financial “safety net” may be limited

If you’re off work long-term, financial support can be lower than many people expect. Some employers offer enhanced sick pay, but many do not.

In the UK, statutory sick pay replaces only a small proportion of average earnings (around 17%), which can leave a significant gap if you’re unable to work for an extended period.

For self-employed or locum vets, there may be little or no income at all during time off.

2) It’s a physically demanding profession

Veterinary work often involves lifting, handling animals, repetitive movements, and working in physically challenging environments.

Research suggests the profession carries a higher-than-average risk of workplace injury and illness, with some injuries considered part of the day-to-day reality of the job.

This matters because across the UK, one of the most common reasons for income protection claims is musculoskeletal conditions such as back, joint and mobility issues.

3) Mental health plays a significant role

The veterinary profession can also bring emotional pressures — from workload and responsibility to managing difficult situations and client expectations.

Survey data suggests that mental health challenges affect a significant proportion of the profession, with many vets experiencing work-related stress or emotional strain at some point in their careers.

This is important because mental health conditions account for a significant proportion of income protection claims by value in the UK.

What income protection typically covers

Most policies are designed to cover inability to work due to:

• Illness
• Injury
• Mental health conditions (depending on policy wording)

Policies have specific terms, conditions, exclusions and definitions which vary by provider, and claims are subject to insurer assessment. It’s important to understand what is and isn’t covered before taking out a policy.

Key features to understand

Own occupation cover

For vets, ‘own occupation’ cover can be an important feature available on some policies. It means a claim can be assessed based on your ability to do your specific role as a vet, rather than any type of work, subject to policy terms and conditions.

Deferred period

This is how long you wait before payments start (for example, 4, 8, 13 or 26 weeks).

A practical way to choose this is to align it with:

• Any employer sick pay
• Savings you could rely on in the short term

Benefit term

Policies can be:

• Short-term (for example 1–2 years per claim)
• Long-term (potentially paying out until a chosen age)

Premium type

Common structures include:

• Guaranteed (stays the same)
• Age-banded (increases gradually)
• Reviewable (can change over time)

Mental health cover

Given the nature of veterinary work, it’s worth checking how policies define and support claims related to stress, anxiety and depression.

What does income protection cost?

Costs vary depending on factors such as age, health, income, job role and policy features.

The following figures are a broad guide only:

• Ages 25–35: around £20–£50 per month
• Ages 35–50: around £40–£90 per month
• 50+: around £70–£150 per month

These figures are indicative only and will vary based on individual circumstances.

What do people actually claim for?

Income protection claims are often linked to more common conditions rather than major life events.

Industry data shows:

• Musculoskeletal issues (such as back or joint problems) are one of the most common causes of claims
• Mental health conditions account for a significant proportion of claims by value

This highlights that time off work is not always caused by a single major event – but can result from conditions that develop gradually over time.

Final thoughts

For most vets, your ability to earn an income is one of your most valuable financial assets.

Income protection can act as a financial safety net if illness or injury prevents you from working, helping provide some financial stability during uncertain periods.

Choosing the right cover is about understanding your options, getting the key features right, and ensuring the policy reflects your individual circumstances.

About Chase de Vere and the BVA partnership

Chase de Vere is a partner of the British Veterinary Association (BVA).

Our advisers understand many of the realities vets face – including moving between practices, locum work, self-employment, ownership and changing working patterns.

As part of this partnership, BVA members can book a free initial chat with one of our specialist advisers to ask questions and gain clarity with no obligation.

Book a free initial chat with a Chase de Vere adviser