What am I on about I hear you say?  Think about this: imagine a family member being diagnosed with say, cancer.  Of course this is not conducive to wanting to celebrate as a family is it?  Rather you may be thinking more about things like how serious or severe is the cancer?  What treatment is needed?  What treatment is available?  How much time off work or household duties will be required?  How does this impact on the rest of the family?  So many questions to answer and least of all, what will the financial impact be? 

For example, if you can’t work due to the cancer, how many weeks do you have to wait before your income protection policy kicks in?  Or, do you need to pay for childcare whilst you deal with having treatment?  Or, if your child has cancer, how much time off work will you need to take to look after your child?  These are all very scary but valid issues you would need to think about.

So what does this have to do with family celebrations?  The good news is this: what if you had the foresight to put in place Trauma Cover?  You could have access to a lump sum trauma pay-out that could assist you financially during this traumatic period.  Let’s face it, when you’re faced with a family trauma, if you have cover in place at least you don’t need to concern yourself so much about the financial side of things.  Isn’t that worthy of celebration?

These days, advances in modern medicine has meant that many serious conditions are now treatable and survivable compared to say, 30 years ago when diagnosis often meant you were terminal.  But whilst critical illness survival rates have improved significantly, dealing with treatment and recovery still does come at a cost, even for conditions diagnosed in the early stages.  Not only a financial cost, but a physical and emotional cost too.  There are providers that cover children for free up to a certain limit, there are providers that have trauma products that allow you to claim just the one time, or a couple of times depending on what options have been selected or best case scenario, you can claim on your trauma cover multiple times.

So what can you do to protect yourself and your family from this risk?  Talk to your adviser about Trauma cover for all the family.   They can help you choose the best cover for your family.  Celebrate in knowing your family are financially covered so that you can focus on getting better and getting back to enjoying life.

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Vinessa is passionate about assisting clients to achieve their financial goals. This passion, combined with specialist financial qualifications, and years of work and life experience makes her eminently qualified for advising families and individuals on the most appropriate way to protect assets and build wealth. Vinessa is married to Graham and together they have two boys and one daughter, Marc, Liam and Olivia. Disclosure and Disclaimer: A disclosure statement is available on request and free of charge. While every care has been taken to supply accurate information, errors and omissions may occur. Accordingly, Milestone Direct Ltd accepts no responsibility for any loss caused as a result of any person relying on the information supplied

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