Most financial plans treat cancer as a rare event, or as though a diagnosis always means the end of the road.
New joint research from Scottish Widows and Macmillan, tells a different story. By 2045, cancer prevalence in the UK is forecast to rise by 58%, taking the number of people living with or beyond cancer to 5.4 million and survival rates have doubled in the last forty years. So, cancer is no longer the death sentence it once was, and that changes what financial planning needs to do.
That’s why we invited Scottish Widows national account manager, Jonathan Hall, to join host Richard Allum and talk through what the research means and help paraplanners understand what it might mean to their day-to-day paraplanning.
John unpacks what’s driving the increase (an ageing population, earlier diagnosis through screening, and improving survival rates), and what it means for clients at every stage: building cash flow models that stress test a plan against a cancer diagnosis, why premiums for the same cover roughly triple by your thirties and more than double again by your forties, and how needs shift from a client in their twenties protecting a lifestyle to one in retirement assuming their savings will simply see them through.
Tune in now to find out how to bring this conversation to life for your clients.
What can you expect?
- the numbers behind a forecast 58% rise in UK cancer prevalence by 2045, and what’s driving it
- how to use cash flow modelling to bring a “what if” conversation to life for clients
- how protection needs and objections shift across generations, from Gen Z to those approaching retirement
- why “I’ve already got cover” and “I’ve got savings to fall back on” are worth gently challenging
- how protection can work as an intergenerational planning tool, including for clients’ adult children
Request a CPD certificate and download Jonathan’s slides
Once you have watched or listened to this episode, you can request a certificate of attendance for 35 minutes’ CPD. To do that, follow the link below where you will also be able to download Jonathan’s slides.
