Serious illness affects millions of British families every year and the emotional strain of seeing a loved one go through the pain and trauma of recovery is difficult to deal with. As well as the emotional strain, millions of families also have to deal with serious financial problems, especially if the main earner in the family is the one struck down with illness.
New research shows that almost two thirds of us know someone who has suffered a long term illness or injury, but 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. Furthermore, only a third of people surveyed currently have Life Insurance, less than a fifth have Critical Illness Cover, while only one in ten have Income Protection.
So 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? Even if you have something in reserve, how long would it last before you would have to turn to friends, family or the state for help? And what would you and your family have to sacrifice once your income was taken away?
Having to deal with financial worries when you are already having to cope with serious illness can cause massive strain, at what is already an incredibly difficult time. So how can you make sure that if it happens to you, money is not a worry.
Log on to our web TV show where 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 where 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.