How would you carry on paying your household bills, including your mortgage, and continue to put food on the table if your primary income was stopped or greatly reduced because of an accident or long-term illness?
The bottom line is that without any set plans in place, many families struggle when their main breadwinner’s income is affected by a change in their circumstances.
Despite this inevitable reality, the number of people with income protection is still worryingly low. And, while state support does exist, recent changes to the benefits system have left many people wondering, will the state support me if I am sick?
To highlight the importance of planning for financial uncertainty, the Income Protection Task Force set up the Seven Families project. This charity-led campaign was created to raise public awareness of the significant financial impact a disability or long-term illness can have on a family. In addition, the project has been helping seven real families who have lost their income due to a serious illness or disability.
‘An Inspiring Campaign’
Continuing to garner support, the Seven Families initiative has just secured its first ambassador. Patrick McIntosh, a surrey-based financial adviser, who has overcome three different types of cancer, will provide advice and support to Seven Families.
McIntosh said: “Seven Families is an inspiring campaign and underlines two very important issues.
“Firstly, that most people are desperately vulnerable financially if they become seriously ill, and secondly, that there is a way back to health and work after a serious illness.
“Some of the people in this project are going through incredible life changes and it is so important to highlight their struggle. I’m honoured to be the first ambassador of the campaign.”
McIntosh will be seen as an inspiration by the families, with his successful Kilimanjaro climb and expedition to the South Pole; both of which he completed after undergoing major surgery for bowel cancer.
Nobody ‘More Worthy’
The Income Protection Task Force’s chairman, Peter Le Beau, said: “I cannot think of a more worthy or appropriate person to become an ambassador of Seven Families than Patrick.
“He embodies the courage and resilience that is such an important aspect of the campaign, and as a financial adviser he realises the importance of a financial safety net such as income protection.”
To-date, the Seven Families project, which is administered by the Income Protection Task Force and Disability Rights UK, and supported by insurance providers, including Aviva, Zurich, British Friendly and Royal London, has raised £4,122 via its JustGiving page.
Premier Choice is following the work that the Seven Families project is doing with great interest. We encourage all our clients to take a look as the stories unfold as it really hammers home the need to get protected.
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