Q: Who needs cover?
A: Because premiums for age-related unemployment accident and sickness policies are capable of costing a mere fraction of those of standard unemployment accident and sickness policies, even those who stand to be directly affected by some of these exclusions may still decide that this innovative approach provides them with good value.
After all, there aren’t too many people who can claim to have cast-iron job security these days and the chances of incurring health problems are far greater than generally supposed. For example, according to UK statistics provided by reputable and authoritative organisations:
*Someone suffers a heart attack every two minutes
*One in three people will be diagnosed with cancer during their lifetimes
*One in three people currently suffers from a bad back
*One in four people will experience some kind of mental health problems during the course of any one year.
Some individuals will be able to fall back on the support of a comfortably-off partner or family member in their hour of need, and a minority of people in good jobs will already enjoy all the health insurance protection they require via the workplace. But, for most people, being unable to work for any length of time will involve trying to get by on State benefits, which is unlikely to be a terribly pleasant experience.
Exactly what you will receive from the State if you are unable to work due to poor health or unemployment will depend on a range of factors, such as your savings levels, whether you have a full-time working partner, the number of dependants you are responsible for and whether you rent your property or own it. But, whatever you get, you can be certain that it will not be sufficient to do more than pay for the very barest of necessities.
A single stroke of misfortune can therefore result in a debt spiral that leads all the way to the bankruptcy courts, but taking out an unemployment accident and sickness policies can greatly reduce the chances of this happening. It is within your power to safeguard your future financial security, and the new age-related premiums are capable of being so inexpensive that many people are likely to conclude that they cannot afford to be without them.