Limited Protection for chip

If you mean that you will place copper plate between the heatsink and the bottom of the chip, while you use proper insulation pads and/or heatsink grease without air pockets between, then all should be fine. Just little less heat transfer than direct contact.

There is L-bracket in Vfet amp, similar situation.
 
The copper plate may not be a good radiator. An actual heat sink with fins would be better.

That said, as @adason points out, the thermal resistance from the IC die to the top of the package is pretty high so a heat sink won't help much. Surface mounted packages are better in this respect as they're thinner.

Tom