Provide cover for your client, from the first signs of illness to end of life, by making VitalityHealth part of your protection advice.
Most advisers are familiar with the important role of products such as life insurance, Serious Illness Cover and Income Protection, which cover the costs of major financial commitments in the event of death, serious and/or long-term illness. The support and reassurance that these products provide cannot be overstated. But there’s an irony in the huge focus the insurance industry puts on the financial impact of ill health, without lending equal weight to preventing, diagnosing, or treating the very same illnesses. For every £100,000 lump sum paid out on diagnosis of a serious illness, how many clients, if they had their time again, would forgo this cash for a quick diagnosis and perhaps a cure of their condition?
Our health and the health of our loved ones are the most important things to us. But as with many things in life, good health is not guaranteed. One in two of us will suffer from cancer during our lives, resulting in a death every four minutes in the UK. But it’s not all bad news. Improvements in the early detection and treatment of major health conditions such as cancer and heart disease have seen a significant improvement in survival rates. However, providing timely healthcare via the NHS is arguably becoming more and more difficult, which is why private health insurance is a growing market.
Health insurance is a way of offering clients peace of mind and reassurance that if they do become ill, they have quick access to the treatment and medical advancements at a time and place that suits them. The illness and conditions health insurance covers can range from GP advice about a child’s high temperature, a few sessions of physiotherapy to cure a strained muscle, seeing a consultant about bouts of dizziness, or paying for essential tests to diagnose the cause of shortness of breath, through to complex heart surgery and the latest life-saving and life-prolonging chemotherapy treatments for cancer.
Let health insurance complement your advice, not compete with it
Some of the main causes of premature death, serious illness and time off work due to long-term illness are conditions such as heart disease, cancer, strokes, stress and musculoskeletal conditions. Health insurance covers the cost of diagnosing and treating all these conditions. And with the advent of severity-based Serious Illness Cover, the argument for clients having health insurance is even stronger. Quick diagnosis and treatment could in itself trigger an early and appropriate severity-based payment which can be used as it was intended and not to fund future care.
Currently, there are medical conditions such as Alzheimer’s and Motor Neurone disease that have no known cure. Health insurance typically covers the client up to the point of diagnosis, plus acute flare-ups of the condition or related acute illnesses. While the day-to-day monitoring or treatment of such conditions may no longer be covered by health insurance, Serious Illness Cover or Income Protection are ideally placed to complement the role of health insurance by providing financial support for the client. Advisers, therefore, can offer a full suite of protection by presenting health insurance as an essential part of a client’s protection toolkit.