Carol Kane from Surrey was worrying about the future until she took out financial cover to ensure her partner was secure if something happened to her.
I’m a fit and healthy middle-aged woman. I don’t drink, I exercise every day, and I maintain a healthy body weight. I’ve got no health problems, and I’m not taking any medication. I have no children, and I am in a stable job. Yet I insist on having financial protection. It offers much-needed peace of mind for me.
You may wonder why someone in my shoes might consider it so important. While on the surface, life seems fairly stable and I know I’m blessed to have my health, I know things can change in a heartbeat.
Back in 2018, my partner had a heart attack. He was only in his late 40s – a non-drinker and non-smoker. The irony is that we were exercising when it happened. He was trying to get fit and live a healthier life. While he survived, it served as a reminder to me of how fragile our health is.
The main breadwinner
I’m the main breadwinner in our household. My partner (now my husband) works in the entertainment industry. Work is unpredictable sometimes. It can be feast or famine. Too busy or not busy enough, with seasonal fluctuations.
My work is steady, and my income covers most of the mortgage. So, if I were to fall ill and be unable to work, we’d be in a difficult financial position. Our savings are limited due to having some renovation work done on our property, and we’re still recovering from two lockdowns. In his line of work, lockdown meant being unable to go out and perform. A full year’s worth of shows cancelled overnight. A significant loss of income.
‘I can sleep at night’
I have all the protection cover I need, and it helps me sleep at night. Critical illness, in case I am diagnosed with a serious illness and can’t work (which would pay out a lump sum). Income protection, in case I can’t work due to illness and injury (which would pay out a regular monthly sum). I also have life cover, which would clear our mortgage entirely if I were to pass away. Some of my friends think I’m being morbid or spending money I don’t need to spend. Yet I know only too well how fragile life is.
It’s not just my husband who had health challenges. I’ve recently had two close friends diagnosed with cancer, and my late father was my age (57) when he had his first heart attack. So I don’t take anything for granted. Having this cover gives me peace of mind and helps me sleep. It’s reassuring to know we’d be OK if the unexpected happened. Another friend of mine got cancer and said he actually felt well enough physically to keep working. Yet his emotional state meant he couldn’t focus. Fortunately, he had critical illness cover.
Before I had cover, I used to lie awake at night worrying. I honestly think you can’t put a price on peace of mind. In my view, everyone should have cover if they can.
Client’s name has been changed for privacy purposes.
For further information, read about MB Associates’ protection options or call us for advice on 020 8652 5240