Advances in modern medicine are being made every day. Conditions that were considered terminal only 20 years ago can now be managed successfully with surgery and pharmaceuticals.
In fact, from 2000 to 2012 the average life expectancy increased by three years.
It is worth noting that life insurance is actually where we see the least number of claims. Trauma is where the highest amount of claims are made.
Of course it is important to have your life insurance sorted for the family for when you do pass away (expectedly or unexpectedly). But what if you get really sick, and don't die?
Answer this question: if you or your partner had a heart attack, cancer, or a stroke, what's your plan?
After the initial shock of diagnosis has worn off, there are the practical questions to ask:
While you may be doing well in your medical recovery, suffering from a critical illness can have a huge impact on your financial situation - so this is where trauma cover comes in. It provides a lump sum payment if you suffer from a predetermined health condition and survive for 14 days.
Comprehensive trauma products cover a range of conditions (over 40 depending on the provider)––including the big ones like heart attack or cancer, along with a variety of others like dementia, major burns or loss of hearing.
After a major illness, your priorities often change. Spending time with family and friends becomes so much more important, and your focus moves to your wellbeing. This is when financial peace of mind comes into its own, and provides you with choices.
So the question is - have you got a plan in place for if you don't die?
For more information on getting the right level of insurance for your life stage, check out our free infographic below!