A recent report released by The Health Foundation highlights that an estimated 9.1 million individuals in England will grapple with significant illnesses by the year 2040. This projection signifies a substantial surge of 37%, equating to an additional 2.5 million people, compared to the figures recorded in 2019.
The statistics anticipate a rise in the prevalence of major diseases, propelling the number of people affected from almost one in six of the adult population in 2019 to nearly one in five by 2040.
The comprehensive analysis of 20 health conditions demonstrates that the majority, 19 out of the 20, are poised to witness an escalation in their prevalence. Notably, conditions like cancer, diabetes, and kidney disease are expected to experience an increase exceeding 30% in the number of individuals living with them.
Furthermore, the report discloses that 80% of the projected rise in significant illnesses, encompassing 2 million people, will be concentrated among individuals aged 70 and above. The remaining 20% (500,000 individuals) will be within the working-age bracket of 20 to 69 years old.
Mitigating the escalation in the number of individuals grappling with major illnesses presents a multifaceted challenge with no singular solution. Enhancing care for an ageing population and fostering prolonged independent living are shared predicaments that extend beyond the boundaries of England.
As societies worldwide confront an ageing demographic, diminishing birth rates, financial constraints imposed by governmental austerity measures, the impact of climate change, and the enduring cost of living challenges, the pressures on healthcare systems are a common denominator.
Fortunately for individuals in the UK, the protection insurance industry offers a glimmer of hope. While products such as Critical Illness Cover and Income Protection Insurance do not possess the ability to prevent or cure severe illnesses, the provision of tax-free payouts during such critical times can undeniably alleviate the burdens faced by affected individuals.
Heidi Loughlin, a mother of two residing in Bristol, has been battling stage 4 inflammatory breast cancer since 2015. During a conversation with Protect Line, a leading UK protection insurance broker, Loughlin asserts, “In today’s era, even while living with incurable illness, one must contemplate the potential longevity of their life; it could indeed span a considerable duration.”
“Alongside undergoing chemotherapy, radiotherapy, surgeries, and hormone treatments, the matter of my financial stability is a constant concern. I wholeheartedly urge everyone, irrespective of whether they have children, to secure coverage,” Loughlin ardently implores.
