Critical illness cover can help you to maintain your standard of living during illness
Critical Illness protection from Dorset FInancial Planning
Critical Illness cover pays a lump sum upon diagnosis of a specified serious illness. A serious illness such as heart attack, cancer, Alzheimer’s disease or multiple sclerosis can seriously impair someone’s earning capacity and standard of living.
The Money Advice Service, set up by the government, provides free impartial money advice. The state the following about income protection:
"It’s tempting to think that you’ll never need income protection, but unfortunately no one is immune to things going wrong:
- Every year almost one million workers in the UK find themselves unable to work because of illness or injury.
- Studies by Cancer Research UK have shown that 1 in 2 people born after 1960 will be diagnosed with a form of cancer during their lifetime.
These figures can give you an idea of how important it is to make sure you and your family have a financial safety net in place should something happen to you."
The Money Advice Service goes onto explain:
"Don’t expect the state to replace your income if something goes wrong. More than one in six working families would receive little or no help from the state and see their income drop by a third, if the main earner became unable to work.
Welfare benefits range from around £70 a week to just over £100 a week, depending on your circumstances (i.e. whether or not you have children, a certain level of savings, or if your partner works).
If you find yourself unable to work because of an injury or illness you might be eligible for Employment and Support Allowance."
What to expect from your mortgage and protection adviser at Dorset Financial Planning
As your adviser, I have a duty of care to make sure you are protected against life’s unexpected events and I will discuss this at your initial meeting.
Any financial or mortgage adviser or mortgage broker should give you a copy of the risk report which is individual to you. Once you’ve had a chance to read it, ask yourself:
- How much income would you have if you were taken seriously ill and couldn’t work?
- How would your lifestyle change if you had a serious illness and couldn’t do the things you do today?
- How long would your savings last and how long will it take to build them up again after regaining work?
Our mortgage broker and advisers have expert product knowledge. We can help find the most appropriate solution for you. We can access high quality products from a range of handpicked providers including; Aviva, Legal and General, Vitality and Zurich.
So it’s worth considering how you’d cope financially.
You don’t think you can afford income protection?
Critical may not be as expensive as you think and some cover is better than none at all. By sacrificing a few take way cups of coffee and a few treats each month, not only will you be living a healthier life but you will be spending money on potential benefits that would ensure the financial security of those that mean so much to you.
A helping hand from Dorset Financial Planning
An adviser or mortgage broker at Dorset Financial Planning understand Critical Illness protection better than most and can help you find a product that is right for you in terms of cost, benefits and service.
Call us today on 07862 708429 and we will contact you to arrange a suitable time to discuss this and make sure you have the adequate protection in place for you and your family.