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UK Families At Risk Of Financial Shock As Death Remains Taboo

The taboo of mortality and a growing culture of “living in the moment” has left UK families woefully unprepared for the financial impact of death, Aviva’s latest Family Finances Report reveals.

Aviva’s data shows almost two in three UK adults (62%) feel death is a taboo subject, which makes it hard for people to discuss their concerns. While 43% say they talk openly about death and do not view it as a taboo subject themselves, more than half (51%) say they don’t want to think or talk about it because they just want to enjoy their life.

Funeral arrangements (18%) or life-changing illnesses (14%) rank among the topics people are most uncomfortable talking about with their wider adult family, alongside conversations about their sex life (55%), debts (22%) and general finances (21%).

Few have made the necessary practical preparations to protect their family in the event of their death, because of the discomfort and unwillingness to discuss the subject. Only 14% of parents have a formal, written plan of who will care for their children if anything was to happen to them, compared to 27% who have an organ donor card.

Couples with one child are the least likely to have a formal plan (11%), which may suggest that new parents are unlikely to have thought about making such provisions.

More worrying still is the fact that more than half (54%) of parents have made no plans whatsoever, including more than a quarter (28%) who don’t think they will ever need or want a plan for childcare if they were to pass away.

While one in five (20%) parents have an informal plan for contingency childcare which they have had conversations about, 13% have not discussed these plans with anyone yet.

Financial preparations stuck on families’ to-do list

Many families still haven’t made financial preparations for death, despite being aware of the need for these. More than half (55%) of UK adults feel they should have a will but have not yet arranged one, even though there is only a low cost attached.

Nearly six in ten (58%) have not yet made a list of financial arrangements and providers to help their family sort out their affairs should they die, despite feeling they should have. This rises to 61% of single parents raising children alone, who would arguably benefit most from these arrangements.

A similar proportion (57%) of all families recognise the need to have an accessible list of online account details but have not yet done this.

Some do not think making financial arrangements is even necessary: 14% do not think they will ever need or want a will, rising to a quarter (25%) of people who have not yet considered their own mortality. An even higher proportion don’t think they will ever need or want life insurance (26%) or death in service cover (44%), despite the fact that one in eight males and one in 12 females die during their working life.

Lack of practical preparation extends to parents’ wishes

Almost two in three (62%) adults whose parents are still alive have not had any conversations together about their wishes in the event of their death. Of these, most say it is because they’ve never thought about having this type of conversation (63%) although 14% say it is too upsetting while 13% do not want to upset their parents. One in ten (11%) say their parents find it too upsetting or uncomfortable.

Among those who have had these discussions, the majority have only done so because their parents initiated it (40%). Just 15% were responsible for bringing it up in conversation themselves. Even fewer have fully discussed the details of their parents’ funeral (13%) wishes and just one in five (20%) have fully discussed the details of their will.
Even among those who have already experienced the death of one parent, more than half (56%) have not discussed their remaining parent’s wishes, with 59% of these never thinking about having this type of conversation.

Louise Colley, managing director, protection, Aviva said, “It’s been said that there are only two things certain in life: death and taxes. It’s perfectly understandable why people are reluctant to talk about the latter, but if we can’t talk about something then it is impossible to plan for it."

“No-one likes to think of death, but it’s equally discomforting to think of family members being left financially vulnerable or unsure what to do if you were no longer around. There are certainly steps that can be taken to ease the practical and financial challenges that arise after the death of a loved one."

“We need to change the approach to conversations about mortality. Having honest and open discussions around financial and practical arrangements can really help to avoid even greater hardship if the worst should happen. Making sure your finances are in order – and taking appropriate steps to plan for the unforeseen – will provide peace of mind and mean you can continue to protect and support your family even after you are gone.”

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Cigna Global Health Benefits Network Expands To Provide Health Services & Benefits To Canadian Expatriates And Their Families

  • Integrates provincial & expatriate plans for eligible customers;

  • Gives employees access to a provider network of more than 30,000 health care professionals throughout Canada.

Cigna Global Health Benefits® (NYSE: CI) now offers medical, dental, vision and pharmacy benefits to Canadian expatriates and their eligible family members through its CignaLinks® network expansion intoCanada. Cigna Global Health Benefits worked with Cowan Insurance Group, a leading provider of third party administrator services in Canada, to bring this opportunity to market. This relationship is unique in that the provincial and expatriate health plans are managed together for eligible customers; making it easier for customers to use their benefits wherever they may be in the world.

According to a recent study (National Health Expenditure Trends, 1975 to 2014) conducted by the Canadian Institute for Health Information, in 2012 the private sector spent $60.3 billion on health care. Annual growth rates were forecast at 2.6% for 2014, which is higher than public-sector annual growth rates (forecast at 2.0%). Through this relationship, customers now have access to a direct reimbursement experience utilizing a strong national network of health care professionals that are part of the CignaLinks Canada network.

“Research and feedback tells us that customers want affordable health care services and products that are easy for them to use when they need it,” said Robyn Cameron, Senior Vice President, North America Market, Cigna Global Health Benefits. “By working with Cowan, we’re able to introduce a unique offering to customers that combines affordability with convenience without sacrificing quality of care or quantity of access to doctors.”

“Navigating the healthcare landscape of a foreign country can be very challenging for an expatriate employee and their dependents. Multi-national employers want their expatriate employees to have a comprehensive healthcare program so that when they travel, their medical needs will be covered,” said Jason McCormick, Vice President International Benefits, Cowan Insurance Group. “With this relationship, Cigna’s insured members who are working in Canada and their dependents, gain access to a significant network of providers from coast to coast that offer direct reimbursement, and tap into cost mitigation opportunities through our innovative tools, relationships and partners.”

In addition, customers receive:

  • Direct claims settlement for retail pharmacies, vision, medical and dental benefits across Canada;
  • Services accessed at discount rates in many cases due to local pricing and negotiated discounts with many of the health care professionals in the CignaLinks network;
  • No deductibles;
  • Provincial Health Plan Service eligibility and enrollment support, which simplifies the administration of medical health services across all provinces; and
  • Easy-to-use search capabilities when looking for health care professionals in the Cigna Envoy® online directory.
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You Are Global

You Are Global Overseas Health Insurance

 

You Are Global is a leading international health, expat, life and travel insurance broker and intermediary, based in Brazil. You Are Global works with leading private medical insurance providers and companies like IMG, Cigna, HCC, Now Health International and Allianz Worldwide Care. You Are Global caters specifically for expatriates, travelers and tourists, working, living and visiting Brazil. You Are Global has specific expertise working with Spanish speaking cultures around the world whilst also proving international health, medical, travel, expat and life insurance plan to the out bound travel market in Brazil.

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You Are Global

You Are Global Overseas Health Insurance

You Are Global is a leading international health, expat, life and travel insurance broker and intermediary, based in Brazil. You Are Global works with leading private medical insurance providers and companies like IMG, Cigna, HCC, Now Health International and Allianz Worldwide Care. You Are Global caters specifically for expatriates, travelers and tourists, working, living and visiting Brazil. You Are Global has specific expertise working with Spanish speaking cultures around the world whilst also proving international health, medical, travel, expat and life insurance plan to the out bound travel market in Brazil.

How can we help?

If you are an international citizen and need a medical coverage which knows no boundaries, you are in the right place. We understand the world has evolved and business and study programs are not limited to the place we live. And this also happens to international travel opportunities: nowadays, travel abroad is easy due to globalization. In the other hand, we know that having a comprehensive, continuous and worldwide medical coverage is mandatory to an international citizen. Therefore, from now on you can access all solutions ValenteRocha provides throughout “You are global – SeguroSaúdeemViagens” program.

You can have a global support, with online assistance, quoting and contracting your international medical coverage with adjustable options as you have never seen. Now you have access to the most comprehensive medical coverage plan available in the American Health Insurance Style. *You are Global – Seguro Saúde em Viagem”isValenteRochaproperty for international medical coverage plans.

Safe On-line Shopping

The whole process of your international medical coverage shopping can be on-line, throughout the internet. In this channel, you can have the quotation you need, revise the offered coverages, fulfill your personal data and send, directly to the enterprise, your international medical coverage request. We know that, due to the nature of our solutions, some personal information is confidential. Then, the entire information submitting process is confidential and all personal information is sent directly to underwriting department which is under a severe clause of confidentiality regarding our clients` information. All this provides you peace of mind. All the shopping system is secured by a safe site and digital certificate, which ensures the online shopping. In other words, we are ready for you to have what is the top of the best medical coverage available, aligned with an customer service and underwriting processes with are modern, safe and dynamic.

Company: You Are Global

Address: R.Lima Barreto, 442, Curitba, Brazil

Phone: +55 41 3527 2680

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Web: www.youareglobal.com

 

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Expatriate Health Insurance

Compare Expatriate Health and Medical Insurance Plans, Coverage, Quotes and Companies, with iPMI Magazine. iPMIM represents leading providers of expat medical, health and travel insurance plans. Find the right and most appropriate Expatriate Health Insurance for overseas travel, global mobility and relocation