Our founder and managing director, Monica Bradley, reveals that we’re seeing an increase in claims for serious and terminal conditions and explains why everyone needs financial protection.
The pandemic has impacted the lives of many people worldwide, and with it, financial protection claims have increased. Sadly, MB Associates is now receiving more claims than ever before – currently, we’re receiving a new one every other week.
Why is this happening, and what can you do to protect yourself?
Let’s be honest. It’s not easy getting a doctor’s appointment these days. Many people put off calling their GP when they feel unwell, thinking they won’t get seen. I’m sadly seeing a lot more claims for serious conditions like brain tumours and cancer. Unfortunately, being young and fit is no guarantee of good health. Some of the claims I’ve recently seen have involved young or middle-aged people who were previously healthy.
Increased cancer deaths
According to a Telegraph article published in November, figures show that hundreds more people than expected are dying from cancer. Charities and health experts say that missed diagnoses during lockdown may be one reason why this is happening, and the current NHS crisis clearly isn’t helping.
Since September, there have been almost 900 more deaths from cancer than would be expected.
A report from the National Audit Office showed that up to 740,000 potential cancer cases that should have been referred by GPs were “missed” since the first lockdown.
Patient waiting lists are now at a record high – with a backlog of over 7.1 million people.
It’s a similar story for heart disease. According to the British Medical Journal (BMJ), disruption caused by the pandemic is being linked to 30,000 excess heart disease deaths. The British Heart Foundation says that long waiting lists, ambulance delays and inaccessible care have resulted in a surge of excess deaths involving heart disease in England. The charity says that many people have not been able to access care for conditions such as high blood pressure, which can lead to strokes and heart attacks.
I appreciate this is depressing news, but I’m not saying this to cause you anxiety or bring you down. My intention is to help all my clients get prepared and plan ahead for a more secure future. Consequently, I strongly recommend that you consider having financial protection.
What is financial protection?
Simply put, financial protection offers a financial payout should you become ill and be unable to work or if you were to die. It offers peace of mind for you and your family in the event of the unexpected happening.
We offer the following cover:
This pays out a tax-free regular monthly sum if you are unable to work due to an illness or accident. It covers a portion of your salary – usually up to 70%.
This offers a tax-free one-off lump sum if you are diagnosed with a serious illness, such as cancer, heart attack or stroke.
Worth looking at if you have dependents; life cover pays out a lump sum if you were to die so that your family can pay bills and have financial security while coming to terms with their loss.
The key is to plan and prepare
In short, financial planning for a rainy day is more important than ever as uncertainty continues to linger in the world around us. If you don’t already have financial protection, now is the time to consider it so that you’re prepared no matter what life throws your way.
Protection doesn’t have to be expensive, and we will make a recommendation based on your personal situation and budget. To talk to us about financial protection, please get in touch, and one of our protection specialists will be glad to run through your options.
If you already have financial protection, but you’re not sure what’s covered or whether your current policy needs updating, don’t leave it to chance. Contact us today for a free financial protection policy review.
We’re here to help, so whatever your query, please get in touch.