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Helping you focus on recovery, not your finances.

July 2021 

 

CRITICAL ILLNESS COVER

Everybody wants to feel that, even if they were diagnosed with a critical illness, they'd be able to cope financially.  Critical Illness cover can help minimise the financial impact on you and your family if you become critically ill.  Being diagnosed with a critical illness can affect anyone at any age, strike at any time and can turn lives upside down.

 

While it’s easier to explain the importance of life cover, one scenario people often overlook is what would happen if they were diagnosed with a critical illness. One in two people in the UK will develop some form of cancer during their lifetime, every seven minutes someone will have a heart attack and every 12 minutes someone will have a stroke. Focus on getting better In the event of being unable to work due to critical illness, having access to the right amount of money can alleviate some of the financial stress of the situation. The important thing is being able to focus on getting better and not having to worry about money. Critical illness can severely impact the way you live your life, especially when you have to consider supporting your family while you are recovering. People Finding themselves in this situation may use their savings to supplement their loss of income, some may rely on an employment benefit package, while others may find that critical illness cover is their best option.

Minimise the financial impact It’s easy to think ‘I’d cope, that’ll never happen to me’, but most of us know someone either directly or through friends and family that has been affected. Any of us can become ill at any age – and with appropriate critical illness cover in place, it could help to give some financial security at a difficult time. Critical illness cover can help to minimise the financial impact on you and your loved ones. For example, if you needed to give up work to recover or if you passed away during the length of the policy, the money could be used to help fund the mortgage or rent, everyday bills or even simple things like the weekly food shop – giving you and/or your family some peace of mind when you need it most. 

DO YOU HAVE A FINANCIAL CUSHION TO HELP ABSORB THE IMPACT OF A SERIOUS ILLNESS?

The good news is that medical advances mean more people than ever are surviving conditions that might have killed earlier generations. Critical illness cover can provide cash to allow you to pursue a less stressful lifestyle while you recover from illness, or you can use it for any other purpose.

Read or download our guide here - CLICK HERE

Want to discuss your requirements? Woodward Markwell provide an initial complimentary financial healthcheck meeting to discuss your individual needs. Whether you are an individual or a business,  an initial consultation with one of our experienced advisers is free of charge and without obligation.

Please contact us on 01473 408422 or e-mail ifa@wmibl.co.uk


 

Source data:

[1] Cancer Research UK, 2019

[2] Heart UK, 2019