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Virgin Money comments on Macmillan research into financial impacts of cancer

Virgin Cancer Cover
Research from Macmillan Cancer Support has confirmed the financial pressures of being diagnosed with cancer. The research suggests that people face overwhelming financial pressures including home repossession.

According to Macmillan Cancer Support:

  • One in seventeen people lose their home after being diagnosed with cancer and one in six have difficulties in keeping up with their mortgage or rental payments.
  • For those with cancer who are self-employed, the figure is higher still with one in nine losing their home.
  • Each year over 250,000 people are diagnosed with cancer in the UK.

Virgin Money's Scott Mowbray says: "The research from Macmillan is disturbing. Having cancer should not cost you your home. Since we launched Virgin Cancer Cover in January 2006 the talk from the industry has been focused on, 'advice versus buying direct' instead of getting behind the idea of getting more people covered financially against cancer and other diseases. Macmillan would like to see all patients given specialist benefits advice and financial help after being diagnosed with cancer. We would like people to have peace of mind with cancer cover in place before that eventuality.”

Related links
Critical illness insurance : News update: December 2006