1 August 2013

Insuring against Cancer

Cancer has reared its head among a number of my contacts recently (and some of it is a little too close to home for comfort). In fact Macmillan Cancer Support predict that half of Britons alive in 2020 will get cancer during their lifetime. I guess that's because other health issues are being beaten leaving the ones we are not yet fully on top of.

As a financial planner I look at all aspects of personal finances that could help people get the best out of life. And one thing that most people can do is to take out some Critical Illness (CI) insurance against cancer and other major illnesses. This pays out a lump sum on diagnosis of an illness that is covered by the policy.

That lump sum won't get rid of the illness but it could help with extra costs like travel to appointments, home adaptations, and time out of work, as well as providing a bit of comfort - some treats for yourself and your family perhaps.

One of the ongoing developments in the CI world is known as partial payments. This means that cancers and other illnesses which were previously excluded will at least get a partial payment of benefit. That might include the more common things like prostate cancer, and certain types of breast cancer, as well as a heart attack followed by coronary angioplasty (e.g. insertion of a stent).

It's worth knowing what your health concerns are and then ensuring that the policy you go for covers those concerns.

So contact us for peace of mind!

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