It’s not nice to think about, but how would you cope financially if you or a member of your family was seriously ill?
When William Westley’s young daughter, Summer, was diagnosed with Leukaemia, he had just set up a new business, was renting a home and was paying off his Nan’s mortgage. He and his fiancé, Nicky, were worried that they would be unable to cope because their finances were stretched and their time was taken up caring for their two and a half year old daughter. They ran out of money in just a week. William says…
“When I was told the news I literally dropped to the floor and started crying. Summer at the time was two and a half. To us it was a death sentence – we didn’t know anything about childhood cancer, except for one person we knew had Leukaemia and they passed away”.
The doctor began Summer’s treatment, but William and his fiancée were beginning to run out of money. They were staying in the hospital and away from home, and William was also trying to balance being a carer for his nan with keeping his business running.
He wasn’t able to negotiate a freeze on his mortgage payments, and his bank asked for his overdraft to be paid back within seven days, so the couple were in serious financial trouble.
“We thought we were going to lose our house, we thought my Nan was going to lose her house, and we thought that the business was going to go down the pan and that my bank charges would just go up and up and put us into debt for the rest of our lives, we’d have no house, no money, no job”, he explains.
“In fact, all the way through treatment we didn’t know for a fact that Summer was going to be okay”.
Then a friend mentioned that they had critical illness for their family on their own life insurance. William wondered whether he might have a qualifying policy, because he had taken out life cover when he arranged a mortgage on a property. He didn’t have any paperwork, but contacted Legal & General to check.
“The people at Legal & General checked my account for me and they said: “It turns out you are covered, but we need to get a letter from your doctor”.
Within a month, the couple had a £15,000 pay out. “It lasted long enough to get us through that situation, pay off the overdraft to the bank that I owed to, pay the mortgage, pay the rent and generally, I don’t think we would have anything left if it wasn’t for that initial payout”, he says.
“Legal & General is the only insurance company I would recommend to anyone for any form of Life insurance”.
“They really did sort our lives out, and I know people say money doesn’t buy happiness, but it really, really helps. We really appreciate what Legal & General did for us”.