CI is essential cover for families

For most of us it was the London 2012 Olympic Games that proved to be the highlight of the summer.

Roger Edwards

For one lucky couple it was the news that they had won the lottery jackpot of £148m. Say it slowly and it still doesn’t sink in – one hundred and forty eight million pounds.

They now have a fortune that rivals Jamie Oliver’s and it took him more than 15 years to earn that amount.

When celebrities reach a certain level of fame and earning millions they don’t actually have to pay for anything.

A company will be happy to have the endorsement of a well-known face. It’s great advertising, and for the celebrity, well, they can laugh all the way to the bank.

It’s unlikely the recent lottery winners will find themselves in that situation but if they invest wisely they won’t have any financial concerns for the rest of their lives.

Most people are not so lucky. Without millions or even thousands to fall back on many would be hard pressed to survive financially if they were unable to work due to a serious illness or accident. But taking out critical illness cover or income protection is a way for any family to be prepared.

A payout from a policy will mean they can concentrate on getting better rather than worrying about how to pay the mortgage.

Let’s face it, most people aren’t going to win the lottery or have the perks a celebrity enjoys, so it pays to be financially prepared in other ways.