Convalescence after a Serious Illness
Why it is important to have a full recovery
Due to medical advances, more and more people are surviving diagnosed illnesses than ever before, however the recovery process can be a tough time for anyone both physically and financially. The added emotional strain of not being able to work can often make the recovery time more difficult. How will you pay your bills or take care of your family? Depending on the illness you get you may not be in a position to return to work for a while or in some cases you may never be able to return to work. How would you survive? Does your employer pay any sick leave? Do they have an income protection scheme for their employees in place? Would you have the financial stability or savings to be able to maintain your current standard of living if they don't have either? Probably not, who would! We save for holidays, rainy day shopping, upgrading our home....... who saves for the day we may need to cover our day to day bills after being unable to work due to being diagnosed with cancer or a serious heart issue maybe!
People often think that they don’t need serious illness cover or income protection because they are too young or too healthy and it will never happen to them. In reality though, the younger and healthier you are, the easier and cheaper it is to get cover so this really is the best time to consider your options. If you don't have it and you get sick, it will be too late. It may be difficult to get an insurer to cover you or you might find that the premiums are too expensive to go ahead with it.
A serious illness claim can be submitted once you are diagnosed with one of the illnesses listed on your policy. Having even a small amount of serious illness in place can help you hugely in the recovery process after an illness.
One of the big questions people always ask is how much cover do I need? This differs from person to person. You should consider your financial commitments and how you would be able to meet them if you had to stop working suddenly or for a couple of years. The more cover the better but you need to think about your budget and how much you can afford to pay every month. Even a small amount of cover is better than having nothing in place. Serious illness cover can relieve some of the financial burden, allowing you to concentrate on getting better.
Being diagnosed with a serious illness can affect you not only financially but also emotionally. Having some type of cover in place will allow you to look after yourself and your family without having to rely on others for support.
People often end up returning to work before they have fully recovered as they cannot afford to stay home and get better. Not giving yourself enough time to recover can lead to you falling sick again and may force you to take even more time off work. Serious illness cover allows you to take the time you need to fully recover before getting back to work.
For more information about serious illness and income protection cover check out our blog on The Living Benefits of Life Insurance or give us a call on 01 4003434 where we would be happy to help.