In November 2022, British TV presenter and personality Jonnie Irwin revealed to the world that he had sadly been diagnosed with terminal lung cancer. Jonnie had been a staple of British television for the last 18 years, most famously as the host of Channel 4’s A Place In The Sun and the BBC’s Escape To The Country. Over the last month Jonnie has been very outspoken about his condition and how unprepared he was for the devastating financial impact of having an incurable illness. Specifically he has discussed a topic very close to our hearts, not taking out cancer cover insurance.
The Cost Of Cancer And The Benefit Of Getting Cancer Cover
What is more scary than cancer? The cost of cancer. A lot of people diagnosed with cancer get wrapped up in improving their health and focus on trying to get better…which they should. However, most don’t fully understand the financial pressures that having cancer can have on an individual and their family. Cancer can be an expensive disease and if you aren’t properly prepared for it, you can find yourself seriously struggling.
There are many different types of insurances that you can take out that will support you and your family if you are diagnosed with the disease, and seeing as 1 in 3 people are diagnosed with cancer, getting cancer cover insurance will probably be the most sensible decision you could make. There are policies that can replace income if you are unable to work, there are policies that can provide you with lump sums of cash if you are diagnosed with cancer, and there are policies that can provide your family with an ongoing income if you should die.
Cancer treatments can be expensive. Luckily this country has the NHS so most treatments through the NHS are free however there may be some specialist treatment that you need or some specialist medicine that is not covered by the NHS. This could end up costing thousands in medical bills. Similarly, if you decide that you want to receive private care rather than NHS care, this could also cost a significant amount to cover the medical bills.
If your treatment unfortunately does not work, you might decide to receive end of life hospice care, in which case your family could be left with a large bill for the time you spent in the hospice before you passed away. All of these things aren’t often considered by people, but definitely should be. If you arrange the correct insurances through an insurance advisor before you or anyone in your family is diagnosed with the disease, you could be entitled to tax free pay outs to help you pay your medical bills. The last thing you want to worry about when battling cancer is whether or not you can afford the treatment.
Lack Of Income Due To Cancer
Another major thing that people don’t consider before they are diagnosed with cancer is the potential inability to work and subsequent lack of income. Whether you are employed or self-employed, cancer can strike anyone and can force you out of your livelihood. Due to cancer, you may be physically unable to do some of the things you were once able to, either long term or short term. For example, you may be a builder who is active around a building site all day. Cancer and the treatments for it such as chemotherapy can be seriously debilitating and you might have to be signed off work or in the worst case scenario, let go from your position.
Cancer and it’s treatments can cause exhaustion, physical pain, nausea, mental anguish among other things. That means that even if your job is not particularly physically demanding, people such as office workers may also be unable to work and earn an income. Again, the last thing you want to worry about if you are battling cancer, is where your next paycheque is coming from and whether you can afford to keep a roof over your head.
By speaking to an insurance advisor, you can secure cancer cover that can supplement or even completely replace your income if you find yourself unable to work. Also, if you should succumb to the disease, there are insurance policies that can pay money to your beneficiaries to ensure that they are financially secure if you aren’t around anymore.
Statistics From Insurance Providers
This week our senior protection advisor Jade Pinkerton attended insurance provider Aviva’s webinar on personal protection. Here are some of the shocking statistics that Aviva shared with Oportfolio:
- 64% of people are worried about loss of income if they were unable to work due to cancer or another life threatening disease.
- Most people believe they wouldn’t be able to cope financially for even 6 months if they weren’t working, but even then, psychology says they are most likely to over-estimate.
- People often think they have benefits that would help them, however, 81% of people don’t have any work benefits that would help if they were sick or off work. Benefits with employers are often only related to death and are not enough to protect people properly.
- Self-employed people don’t even have access to statutory sick pay.
The simple fact is that people cant afford to NOT have personal protection in place and as cancer is the biggest concern, It is better to have something in place than nothing. But as professional cancer cover insurance advisors, we can help advise on what policies you should have and your areas of potential exposure. Some thing come at a cost but are necessary. From family to family these vary, but most view their Sky TV, Spotify, mobile phone bill and pet insurance as necessary – and we understand this. however it is our mission to ensure that our clients understand that it is a necessity to ensure that you and your family are financially secure should the worst happen.
Forced To Keep Working Due To Cancer
Talking to the Daily Mail, TV presenter Jonnie Irwin (diagnosed with terminal lung cancer) comments on his regret at not having cancer cover in place. Walker, who was diagnosed 2 years ago and given only 6 months to live at the time has spoken about how he was forced to continue working rather than spending the last few months and years of his life with his friends and family. Because he did not have critical illness cover in place, he literally couldn’t afford to stop working.
‘So when you get a terminal diagnosis, insurance covers you for when you’re gone. But a terminal diagnosis can go on for years and it will affect things. Your illness affects your work, so if you’re unable to work and you’re waiting for this pay out, who is going to pay the rent?’
Irwin continues, ‘So critical illness is a policy you take alongside that and that kicks in as soon as you’re ill. I didn’t take that and that put a lot of pressure on having to work on days when I didn’t want to go to work, and that’s one mistake I say to everyone.’
Speak To An Insurance Advisor Today To Cover Your Finances
We cannot stress how important it is to have personal protection in place. The difference it will make to you and your family, should you be diagnosed with a critical illness such as cancer or a heart attack is huge. There will be money in your bank so you don’t have the financial stresses while trying to get better. If you are one of the millions of people in the UK who don’t have insurances in place or think you might need to re-structure your existing policies, we are here to help. Give us a call today to have a free consultation with one of our expert insurance advisors.