Tom & Janet : The Importance of Critical Illness Cover

Tom & Janet were clients of mine for many years.

I helped them with their savings, investments and retirement planning.

I saw their children grow up and have children.

Tom & Janet were both looking forward to retiring at 55. All the plans we made were put in place so that they could achieve this some 10 years before their state pension was due. We also ensured that their mortgage was fully protected in event of death or critical illness. Protecting your mortgage can often be overlooked but we are firm believers that this is a key foundation of financial planning.

Sadly Tom was diagnosed with a life threatening illness and their dreams, aspirations and goals caved in around them.

As well as the emotional turmoil of someone that had always been fit, healthy and rarely even visited the doctor becoming critically ill to deal with, there were also the financial implications of Tom not working to deal with. For example, Tom and Janet worried how would they manage the bills.

Fortunately, because we had previously laid correct foundations with our financial planning, the Critical Illness Plan we arranged for Tom and Janet took care of the mortgage and repaid it in full.

This significantly reduced their outgoings and we also reorganised their investments to provide an immediate income.

This allowed Tom to recover with peace of mind, and the knowledge that their finances were taken care of with the added bonus of still being able to choose when, or if, to return to work and if so for how long.

Whilst we put all of the necessary plans in place to help Tom and Janet reach their end goals, the way we work means flexibility is always part of the plan. No one can predict just what path their life will take, or what twists and turns they will face along the way.

Because we understand this, we ensure you always have options in case plans change.