Johnny Timpson, protection specialist for Scottish Widows, said: “The Seven Families initiative has supported two families in particular which have been affected by stroke, so it is fitting that the Seven Families action day coincided with World Stroke Day.
“By highlighting the potential impact of a loss of income, and sharing the ways in which the income provided by Seven Families has supported these families through difficult situations, we want to encourage everyone to consider the benefits of financial protection.”
Approximately 152,000 strokes are reported in the UK every year, often resulting in a disruption to an individual’s ability to work.
In 2014, it was the third largest cause of critical illness claims at Scottish Widows, which according to Mr Timpson, paid £5.6m in response to stroke-related critical illness claims – the equivalent of £22,000 every working day.
On 29 October, Seven Families held an awareness campaign specifically to highlight the important work done by carers and to show the financial impact caused by giving up one’s work to support a loved one through their illness or disability.
Kevin Carr, chief executive of the Protection Review, which is one of the campaign’s backers, said: “We want to say a big thank-you to all the people out there who help those with disabilities and illness.”
Seven Families is a charity-led campaign providing financial support for one year to the breadwinners of seven families, unable to work.
Roy McLoughlin, IFA for London-based Master Adviser, said: “Seven Families is a call to arms for all advisers and insurers serious about growing the protection market.
“The Action Day aimed to raise awareness of the financial impact of long-term ill health.”