Insurance...do I need it?!

[robnjc]

I'd say get professional indemnity insurance at least. If you don't need much (e.g. £250,000 or even £100,000) it will only cost a couple of hundred quid.

robnjc,
Do you know which provider your friend got his Critical Illness cover from? That insurance is notorious for refusing to pay out, so it would be good to know of a firm that has done.

I think it wsa actually offered through his mortgage supplier - though to be fair they have not paid out yet either....I think he was just surprised that Parkinson's was on there - not wishing to belittle the effects of the disease but its not exactly life threatening.

[Swiss Tony]

Whilst perhaps it is not life threatening it is certainly a large financial outlay.

Consider the costs of changing your home to make it more suitable, the cost of the latest drugs and the cost of having someone look after you full time, unless you already have enough in the bank to cover that for the remainder of your life. It soon adds up.

Plus if I was diagnosed I would like the ability to plan out the reminder of my life whilst I’m still all there, rather than worry about the financial security of my family once I become a liability.