While you may not like to think about serious illnesses, you are probably aware of its medical implications and the effects it could have. But often overlooked is the financial impact a diagnosis could have on your life.
Patients will likely have increased medical costs such as consultant fees and expensive medications. These costs are a necessity and shouldn’t be something that anyone needs to worry about while they focus on getting the care they need.
Out of pocket expenses
Travelling in and out of hospital can be very expensive, even more so for those that do not have the facilities they need in their home county. Along with this, treatments can result in side-effects, leaving patients unable to use public transport (if this is even available).
Utility bills & childcare costs
Patients may experience increased utility bills due to the extra time spent at home recovering from surgery. Patients with children could also gave the extra cost of childcare, which they may not have needed before. For example, a married couple with a stay-at-home mother, now have to pay the extra costs of childcare if one of them becomes unwell.
Reduction in earnings
Patients (and their family members) may experience a reduction in earnings. Most serious illness patients need to take time off work during treatment and most suffer a substantial fall in income. This can lead to further stress as they may not know how long their employer will pay sick leave for and to what amount. This is particularly relevant for those who are self-employed. Self-employed people, many of whom might not be eligible for illness benefit or disability allowance, sometimes try to continue work between treatments, this an extra worry.
Having Serious Illness Cover will give you one less thing to worry about and letting you concentrate on the main thing – getting better!
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