Ndubuisi 'Andy' EgwimMoney Coach for Medics|Ex-NHS GP|21+ Yrs Investor| Founder, MoneyWiseDoctor.com|Helping Medics Avoid Big Money Mistakes

Doctors! Protect Your Income, Your Most Valuable Asset

5 Aug 2026 · 1 min

Watch on YouTube

1:29

In this YouTube monologue, Ndubuisi 'Andy' Egwim argues that a doctor's greatest asset is their ability to earn, not physical possessions or pensions. He explains that NHS sick pay, while generous, only covers up to six months of full pay and another six months at half pay, leaving doctors vulnerable if they cannot return to work. Egwim highlights the common oversight of not insuring income, contrasting it with the routine insurance of phones, cars, and homes. He cites Dr. Ruth Machin, a senior NHS consultant, as a real‑world example of how income protection insurance saved her finances when illness forced her out of work. While acknowledging that the exact type of protection (income protection, life insurance, or critical illness cover) depends on individual circumstances, he stresses the importance of arranging coverage early to maximise options. Finally, he directs viewers to moneywise.com to connect with vetted independent financial advisors.

Chapters

Mistake number 8 is protecting everything except your income. So what's your most valuable asset in life? You think it's your house or your iPhone or your car or your pension? For most doctors starting out, it's none of those. Your income, your ability to earn, is your most valuable asset. So over the next 20 to 30 years, that ability could generate millions of pounds. Do the maths. Now imagine if it disappeared tomorrow through illness or injury. NHS sick pay is generous compared with many industries, but it has its limits. You could get full pay for 6 months. At most on half pay for another 6 months. If you can't return to work, the income can reduce dramatically. So we insure our phones, our cars, and our homes. Many doctors never insure the one thing that pays for all of them— their income. On one of my podcasts here on this channel, I remember Dr. Ruth Machin, a senior NHS consultant, who shared how her income protection insurance saved the day when she became unwell and could no longer work in her role as a consultant radiologist. Now, the type of protection, financial protection you need depends entirely on your circumstances, and that's not something this video will answer. I've made other videos on that. But the earlier you arrange it, the more options you have, whether it's income protection, life insurance, or critical illness protection. Check it out. If you head over to moneywise.com, you can find a qualified, vetted independent advisor to speak to about your financial protection.