Latest statistics provided by Cancer Research UK, accessed 25^th May 2016, state that 1 in 2 people born after 1960 in the UK will be diagnosed with some form of cancer during their lifetime.

However, it is important to add that not all cancers kill you. In fact, cancer at an early stage does not kill you. If cancer is diagnosed at an early stage, before it has had the chance to get too big or spread is more likely to be treated successfully.

That’s why it is so important for us all to be aware of any changes in our bodies and report anything suspicious straight away to the GP.

Having been made aware of this statistic, it’s not surprising that more adults in UK families are worried about the threat of serious illness to themselves, a partner or their children than was the case five years ago – which raises concerns that so many people lack financial protection as the latest Aviva Family Finances Report published earlier this year shows.

This report states that there has been a rise in the number of people who say they have not made any financial preparations for the future: 22% now say this is the case, up from 18% a year ago.

Each year one million workers suddenly find themselves unable to work due to serious illness or injury (abi.org.uk)  

There are 17.4 million working households in the UK and the Association of British Insurers (ABI) estimated in 2014 that less than 1.2 million people have bought individual income protection insurance. Around 2 million more people are covered by group income protection insurance provided by their employer.

If a long term illness or disability brings you to a standstill and you still need a regular income to pay off all the bills and any additional ones relating to your illness, income protection insurance is designed to provide you with a monthly income and so some level of normality can be maintained.

Providers of income protection insurance also offer rehabilitation and other return to work support services. These services help people recover and return to work faster than would otherwise the case, benefiting the individual, their employer, the State (in terms of reduced welfare benefits, and increased income tax and national insurance revenues), as well reducing the burden on the NHS.

One of the reasons for such a relatively small number of people purchasing income protection is thought to be because finding the right policy seems complex. There are choices in when it starts to pay out, how long it lasts for, what is classed as an inability to work, how much cover to purchase and whether to link that to inflation. Some jobs and occupations are out-of-bounds for cover, and the list varies from insurer to insurer.

With income protection insurance everything depends on getting the right policy – and that’s why the Money Advice Service suggest it’s best to get advice.

At Essential Insurance, we believe that buying insurance should be kept simple, our experienced advisors will give you the guidance you need, explain all your options in a way that you’ll understand and they’ll deal with the necessary paperwork quickly and efficiently - saving you time and effort.

Our team of experts offer no obligation advice to find a policy that will best suit your circumstances and budget. You can call us on 0800 612 8005.