We are a charity and rely on donations

Charity Number: 1117194 (England and Wales)

Registered Company: 06000961

Registered address:
Shift.ms, Platform, New Station Street, LS1 4JB, United Kingdom

London office:
Shift.ms, Somerset House, Strand, West Goods Entrance, London WC2R 1LA, United Kingdom

©2024 Shift.ms

@beccamc99 

Last reply

beccamc99

Finances

I got diagnosed last Oct. I bought a house with my partner in March this year, I couldn't get life insurance or critical illness cover, surprisingly! I'm still working full time and had a meeting with our pension provider last week. It was pretty depressing! If I continue to pay in at the rate I am until I can take my pension I'll be able to afford to live in a shoe! There is no ill health retirement available with the pension. I can't take anything until I'm 55. I'm basically trying to establish what financial safety net I can set up should I be unable to work in future. I don't feel comfortable with the thought of relying on state disability benefits if it comes to it just because I know how difficult it seems to be able to make assessors understand MS. Anyone have any advice when it come to finances? Is it worth me looking in to Income Protection?
2
@Bloomers1968
@Bloomers1968
 

Nobody will give you Income Protection, just build up a fund the best you can do while fit and healthy. Just because you got MS doesn't mean that you wont be able to work live for the moment and not what may happen

@Stumbler
@Stumbler
 

@beccamc99 , all forms of life/health insurance is like a bet. You're are wagering against a major life event, even death, happening, whilst the insurance company are wagering it won't - well, not until they've received enough of your money. Unfortunately, a diagnosis of MS tips the odds against you. So, the insurance companies refuse to take the risk, or raise their premiums to reflect their greater risk. Whilst MS isn't terminal, it is still regarded as a potentially life-limiting condition, meaning that we might "pop our clogs" a few years earlier than maybe we should do. But, things are changing all the time to level the playing field. Perhaps the insurance industry should be kinder to us MSers! @bloomers1968 is quite correct in offering a solution. Consider the money that you would pay out on insurance premiums (include extended warranty on consumer items too) and pay this into a savings scheme. It will soon build up and provide you with a fund to cover some of life's surprises. You will effectively be your own insurance company!