How would you and your family cope with the financial strain of illness or injury?

March 18, 2014
Jason Sibio

We all know how important our health is. Without good health, our ability to earn an income and enjoy all that life has to offer is sometimes greatly diminished.

This has really hit home for me in the past few months with two people I know well and in the prime of their lives, being diagnosed with cancer.

Looking at the statistics, this should not have come as a surprise. According to the Cancer Council of Australia, one in two Australian men and one in three women will be diagnosed with cancer by age 85. (1)

The good news is that many people will beat their illness with more than 60% of people diagnosed with cancer surviving more than five years. (2)

But will you survive financially?

Recovery from any major illness or injury requires rest and recuperation. Plus there’s the financial cost of your treatment and not working while you recover. Household bills, mortgage payments and other expenditure don’t stop when you get are sick or injured.

How would you and your family cope with the financial strain?

Critical Illness or 'Get Better' insurance pays an agreed lump sum if you suffer a listed serious illness or injury. This lump sum helps with costs of getting well again plus all those household expenses that don’t go away.

Fortunately for the two people I know, they have Critical Illness and Income Protection insurance in place. They can now focus on their treatment and recovery without having to worry about the financial strain of their costly treatment while not working.

As your Mortgage Choice Financial Adviser, I can assist you or someone you know with taking out critical illness cover. Please call me on 9432 6070 for a complementary assessment of your insurance requirements.

Jason Sibio - BBus ADFP - Financial Adviser
Mortgage Choice Fianancial Planning
Authorised Rep No 449850

(1) & (2).

Posted in: Financial planning

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