FINANCIAL IMPACT OF CANCER IS £891 A MONTH

83% of people with cancer in the UK experience some kind of financial impact from their diagnosis, new research¹ has found. At the most challenging times, critical illness cover can ease some of this financial burden.

Cancer cost

The research showed that the average financial impact of a cancer diagnosis is £891 a month – a substantial sum on top of regular monthly expenditure.

Amidst the cost-of-living crisis, this additional financial burden can seem especially troubling. Thankfully, critical illness cover is designed to support you and your loved ones should you find yourselves in such a situation.

Top cause

Cancer is the most common cause of critical illness claims, accounting for 63.8% of all claims made in 2021. It is the leading reason both women and men make critical illness claims.

Indeed, 78% of claims made by women and 50% of claims made by men are for cancer, far ahead of heart attack (5% for women and 15.7% for men) and stroke (4% for women and 9.5% for men).

Crucial support

Critical illness cover can play an invaluable role in supporting people with cancer. Although it’s impossible to predict the future, critical illness cover provides a degree of certainty for whatever lies ahead. 

As with all insurance policies, conditions and exclusions will apply

¹ Macmillan Cancer Support

Sources:

https://adviser.scottishwidows.co.uk/assets/literature/docs/2022-05-protection-claims.pdf

To understand more about the protection services we offer visit our Protection page.

If you are looking to arrange review your mortgage arrangements and would like advice Contact us

If you found this article useful and would like more market updates visit our articles page