Are You Covered For Serious Illness?

Many British families have to struggle with with each year with a loved one being affected by a serious illness. It’s not just the emotional strain though that hit, it’s often serious financial problems too.

Critical illness cover and Life insuranceWith research revealing that whilst some two thirds of us know someone who has suffered a long term illness or injury, almost half of us haven’t considered what would happen to ourselves and our family if we were unable to work because of illness or injury, or worse still if a loved one were to die.

Of those surveyed in fact only a third currently have Life Insurance, less than 20% have Critical Illness Cover, and only 10% have Income Protection.

A key question therefore is if you were diagnosed with a serious illness or injury would you and your family be able to cope financially if you were unable to work?

You may have some money in savings accounts but even with some cash in reservehow long would it last? Who would you then have to turn to? Perhaps your friends, family or the state for help? And what would you and your family have to sacrifice once your income was taken away?

Coping with a serious illness is of course incredibly difficult in itself. Adding to this the need to deal with financial worries just adds further to the strain.

There are steps you can take to help ensure that if it happens to you, at least money is not a worry.

Later today there’s a web TV show on which Martin Ledwick, Head of Cancer Information Nurses at Cancer Research UK will talk about his first hand experience of the financial strain of serious illness on both patients and their families, and Matthew Wyles from Nationwide will give an insight in to what you need to have in place to help make sure you and your family are protected financially against serious illness.

You can join the show live online at today, Tuesday 18 October at 5.30pm.

I’m sure you will find it very useful – above all having watched it, don’t site back and think it’ll never happen to you, do take action, consider taking out life insurance, critical illness cover and income protection as suits your needs, seeking professional advice if need be.

If you want to get involved with the show and submit a question beforehand, just do so using the form below.

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