New research, to coincide with Breast Cancer Awareness Month, shows the importance of women ensuring they are financially protected.
Figures from Breast Cancer Care, show that approximately 60,000 women are diagnosed with the disease each year in the UK.
That’s the equivalent of one women every 10 minutes.
Furthermore, breast cancer is the most common form of the disease with 1 in 8 women contracting it during their life.
Improving survival rates
Despite the prevalence of the disease, survival rates are improving, with 85% of women living longer than five years following their diagnosis.
However, figures from Macmillan Cancer Support, show that those women affected by Breast Cancer are, on average, £570 worse off per month.
It is also apparent that women are not protecting themselves against the financial effects of cancer. Research from Scottish Widows shows:
- Only 32% of women have Life Cover, to protect their family and other dependents against the financial implications of dying
- Only 8% of women have Critical Illness Cover, which would pay out a lump sum should they be diagnosed with the illness and help cushion the financial effects of contracting the disease
Sarah Moore, Senior Protection Proposition Manager at Scottish Widows, said: “Breast cancer is the most common cancer in the UK and more than 99% of cases are in women. It’s astonishing, therefore, that so few women have protection in place, which means that they could be exposed to potential financial hardship should the unthinkable happen.”
Moore continued: ““The situation is particularly worrying for women with dependent children, a third (33%) of whom admit they could only pay three months of household bills if they or their partner lost their income due to unforeseen circumstances, and 10% think they wouldn’t be able to pay them at all.”
We are here to help
If you are worried that you or your family would be financially impacted by the effects of serious illness, we are here to help.
We will discuss your concerns and make a suitable recommendation having considered all the options available to you.
Call Bev or Sarah on 0115 933 8433 or email info@investmentsense.co.uk
