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Looking after your family

It is traumatic enough to be told you have a life threatening disease but the consequences this will have on your future existence and your families is often too much to bear for some. It''s not something we like to even consider, let alone talk about, but tragically at some point in our lives a third of us will be affected by cancer.

Every two minutes, someone in the UK is diagnosed with cancer and overall cancer rates have increased by one quarter since 1975. On the positive side, in the last 30 years the average 10-year survival rate has doubled and in the last 10 years the cancer death rate has fallen by 10%.

The effects of treatment, operations, loss of work and the general stresses and strains are hard enough and place a huge drain on both the cancer suffer as well as their family but there are also financial implications too.

Outstanding jobs are done every day by doctors, nurses and hospital but they cannot offer financial assistance to help cover loss of earnings and to pay for expensive treatments and care that are not always available on the NHS.

What is worse however is if a child is diagnosed with a critical disease. Every year approximately 1,500 children are diagnosed with cancer and despite 7 in 10 being treated successfully the life-time affects on all those involved are immense. Treatment can last months and can be highly intrusive and disruptive.

Life insurance policies with critical illness cover are becoming more common amongst adults. However, a lot of people don''t take policies out on their children because they don''t think it is possible too or they may not fully grasp how much their own lives will be impacted if their children become ill.

In 2008, according to Friends Provident, 4% of claims on critical illness cover were for children, and sadly most were for cancer. According to figures collected by Lifesearch, you are unlikely to actually pay more for adding children''s cover to your policy.

According to the Association of British Insurers, there is a maximum payout for a child on a critical illness policy of around ?20,000 or 20% of the sum assured. But bear in mind that the rate you will pay will not only depend on whether you add a child or not, but also on the types of illness covered and any pre-existing conditions.

Scherbring has critical illness cover with Legal

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