By highlighting that cervical cancer really can happen to anyone – however famous – the press has raised awareness about the importance of regular check-ups.
It is vital that advisers discuss the possibilities of life’s risks during their sales process and that critical illness cover should be considered an essential part of your client’s financial plan.
If their budget means they can’t set their critical illness cover to meet the full amount of their mortgage, advisers can offer consumers as much as they can afford and provide them with a financial contingency plan.
For example, a 35-year-old male non-smoker with a £100,000 mortgage could pay as little as £11.72 a month for £25,000 worth of critical illness cover and a 35-year-old female non-smoker £19.49 a month for £50,000.
This could make all the difference in terms of affording extra care or keeping up with mortgage repayments. And cover can always be added later when clients are in a position to afford it.
For many clients, protection is just another cost when they have stretched their budget to the limit with a new mortgage.
Advisers should stress to their clients that a little bit of cover is always better than none at all and highlighting the recent coverage about cervical cancer could persuade consumers to put their financial priorities in order.