It was when I purchased my first home at the age of twenty three that I first met a financial adviser who arranged my mortgage and told me that I would require life insurance and buildings and contents insurance. It all seemed like pretty standard stuff to me as this is what most of my friends had. Five years later when I arranged my next mortgage – this time through a building society - I contacted the same fellow and he upped my life cover but told me that it would be prudent to take out some permanent health insurance. Initially it aroused my suspicion as I’d never heard of it before, but he went on to explain that should I fall ill or become incapacitated it would pay me a proportion of my wages until I retired which seemed to make an awful lot of sense.
I thought at the time, why on earth had he not mentioned it the last time we met? Since then some of my friends have taken this out and we have discussed just how reassuring we find it, knowing that whatever happens the cover is there should anything unexpected happen. I find it crazy that so few people are aware this type of insurance exists. Without an income I literally could not afford to pay for anything and although I would probably get some money from the state it wouldn’t be enough and my lifestyle, as I currently enjoy it, would end on the day I fell ill.