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Odds of winning the lottery? 1 in 45 million. Odds of serious illness? 1 in 4 for couples. Are you ready?
We all remember those iconic adverts: the big pointing finger and the promise “It could be you.” That moment of excitement as you check your lottery numbers — only to realise you were so close, but not quite there.
According to national-lottery.com, the odds of hitting the jackpot by matching all six numbers are around 1 in 45 million. Yet most of us have bought a ticket at some point. After all, someone has to win — why not you?
Now, compare that with the odds of being diagnosed with a critical illness.
LV’s Risk Reality Calculator shows that a 30-year-old non-smoking man has a 15% chance of suffering a serious illness before the age of 67. For a woman, it’s 12%. And if you’re a couple? There’s a 26% chance that one of you will face a serious illness before 67.
Put another way: out of every 100 couples like this, 26 will experience a life-changing diagnosis.
Yet when I talk to people about critical illness cover as a financial planner, one of the most common responses I hear is: “It won’t happen to me.”
In many cases, hopefully, that’s true. But I personally know people — under 50 — who have had heart attacks, cancer, even strokes. These things strike without warning, turning lives and finances upside down overnight.
It’s part of human nature to be optimistic. We hope we’ll win the lottery. We hope we’ll stay healthy forever. But optimism alone isn’t a plan.
While you can’t stop illness from happening, you can prepare for it. Critical illness cover could give you a tax-free lump sum if you’re diagnosed with a serious condition. That payout could:
- Clear debts and reduce monthly bills
- Fund home or car adaptations
- Cover travel costs and extra childcare during treatment
- Or even help you take that once-in-a-lifetime trip you’ve always dreamed of
A financial planner can help you figure out what cover you really need, and find a policy that fits your lifestyle and your budget — so you have peace of mind if the worst should happen.
After all, the truth is:
It could be you.
Not just for the lottery win — but also for something far less welcome. The question is: would you and your family be ready?
Don’t delay, ask you advisor to do a free risk check to see you combined risk of such illness.
- These plans have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.
- Plans may not cover all the definitions of a critical illness. The definitions vary between product providers and will be described in the key features and policy document, if you go ahead with the plan.
Octo Financial Planning Ltd is an appointed representative of 2plan wealth management Ltd. It is authorised and regulated by the Financial Conduct Authority and is entered on the FCA register (www.fca.org.uk ) under reference 972331. Registered office: Charles Lake House, Claire Causeway, Crossways Business Park, Dartford, Kent, DA2 6QA. Registered in England and Wales Number: 13922409.
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