How do we cope financially if we get really sick?

Life is full of up’s and downs, joyous occasion and difficult challenges. When things are good, we hope to have people to share those good times with, and when things are challenging, we hope to have the supports around us to help us weather the storm.

Out of action

One of the biggest challenges we can face, is encountering a serious illness that takes us out of action for a period of time. Everything from work to play needs to take a pause as we take on what could be the challenge of our lives. 

Hopefully we’re in a position where we can get sick pay from work, or benefit from social welfare if it’s a prolonged battle, but not all employers operate the same, and not all of us are eligible for social welfare entitlements.

Continuing costs regardless

Unfortunately however, not everything can be paused. Mortgage Payments, Childcare, Household Running Costs, just to name a few, still need to be paid.

Depending on your illness you may even find additional expenses that Health insurance doesn’t cover, such as household alterations to help us live in a new norm. What if you’re sick for longer than your employer will pay an illness benefit for (if they have one)?

How can you ensure that you and your family can focus 100% on battling an illness, and avoid the added burden of financial concerns?

Specified Illness Protection

Specified Illness protection pays a tax-free lump sum to the person who stands to benefit from the policy in the event of the insured person(s) being diagnosed with one of a range of illnesses. Most commonly these cover Heart Attack, Cancer or Stroke, but some products cover 44 + illnesses such as Alzheimer’s disease, loss of limbs and Parkinson’s disease, to name just a few.

Specified Illness Cover is commonly combined with Life Assurance, as its cheaper than having two separate policies, and it provides that extra reassurance if the worst was to happen and the illness was terminal.

Start the Conversation

Planning for the unexpected to ensure your family are financially comfortable is what we do.  The first step is a quick conversation to understand your circumstances and what you’d like for your family if something unexpected happened.

Arrange a quick conversation at a time that suits below.