In a recent publication by The Health Foundation, it is projected that approximately 9.1 million individuals in England will grapple with significant illnesses by the year 2040, signifying a substantial 37% surge equating to 2.5 million more people compared to the statistics of 2019.
This projection signals a transition from nearly one in six of the adult population living with major ailments in 2019 to an estimated one in five individuals by 2040.
Analysing a range of health conditions, the report discloses that 19 out of 20 studied conditions are anticipated to rise in prevalence, encompassing an increase of over 30% in the numbers of those living with conditions such as cancer, diabetes, and kidney disease.
Remarkably, it is predicted that 80% of the anticipated growth in major illness cases (amounting to 2 million individuals) will be concentrated among those aged 70 and above, while the remaining 20% (equating to 500,000 individuals) will pertain to the working-age population aged between 20 to 69 years old.
The task of curbing the escalation in major illness cases is multifaceted and lacks a single solution. The complexities of enhancing care for an ageing population and extending independent living are not exclusive to England.
Amidst an aging demographic, decreasing birth rates, financial constraints in government funding, the impact of climate change, and the challenges of sustaining an affordable standard of living, countries worldwide are encountering similar pressures upon their healthcare systems.
Fortunately for the residents of the UK, the protection insurance industry presents a glimmer of hope. While products like Critical Illness Cover and Income Protection Insurance may not offer remedies or prevention for severe illnesses, the tax-free disbursements provided during these trying times can significantly alleviate the financial burden on affected individuals.
Heidi Loughlin, a mother of two sons hailing from Bristol, has been bravely facing stage 4 inflammatory breast cancer since 2015. In conversation with Protect Line, a prominent UK protection insurance brokerage, she asserts, “In this contemporary era, we are living remarkably well despite enduring incurable illnesses – it is imperative to contemplate the potential longevity of one’s life, which might span a considerable duration.”
“Amidst undergoing chemotherapy, radiotherapy, surgical procedures, and hormone treatments, the aspect of my financial stability remains a concern. I wholeheartedly implore anyone, regardless of whether they have dependents or not, to secure appropriate insurance coverage,” Loughlin fervently appeals.
