Sponsored Content
Following a difficult year, Michael Barney, managing director and partner at HBFS, reflects on the importance of taking out critical illness cover
FINANCIAL Services thrive where trust, reputation and consistency of service levels come together to present clients with the confidence that their financial futures are in good hands.
HBFS has been servicing Jersey since 1988 and, in that time, the one thing that remains true is that confidence is built not on one person, but rather on the team of people in place to deliver our services.
The past year has been a challenging one for me personally. Towards the end of 2023 I was diagnosed with mouth and throat cancer. I spent six weeks in Southampton Hospital followed by radiotherapy and chemotherapy and then a recovery period. The treatment was not entirely successful, which meant major surgery was required and a further four-week stay in hospital with another period of recovery to complete the medical treatment.
Throughout this period, I have been in regular contact with our team at HBFS when unable to come into the office. However, what this difficult period has confirmed to me is the great value of a stable, high-performing team of professionals.
In those absences while in hospital, my business partner, and all staff members, have ensured that HBFS has continued to operate to the highest standard of customer care.
In this, we have been supported by an outstanding management and wider team. I hold these colleagues in such high esteem not only for how they have continued to care for over 1,000 people we are proud to call clients but because they have done this consistently and regardless of my illness.
This really is what HBFS is all about; a company focused on meeting, and exceeding, the needs of our valued clients. In large part, then, this piece is a public thank you to our team for all they have done and continue to do.
However, as you might expect, it also brought to mind the value of critical illness cover – yes, even while recovering from treatment and surgery, I was reflecting on the HBFS service lines.
Critical illness cover is often forgotten about by both individuals and companies, despite the fact that nearly half of us will have to deal with a critical illness during our lifetime. While the reported figures do vary to a degree, around a third of young adults have never heard of critical illness cover, and almost three-quarters of 18-40-year-olds do not have critical illness cover.
From experience, it is wise to ensure that you have your income covered for at least a year if you find yourself incapacitated. That means that if you earn £35,000, you should take out £35,000 critical illness cover. I say a year because, as I found, within a year, the worst is often behind you.
Critical illness cover may well be something we want to ignore because it asks us to consider how our health may present an unpleasant challenge at some time in the future. However, to ignore is also to potentially open ourselves up to a financial risk that need not exist.
While recovering, I was able to focus on just that, a key feature of the critical illness cover HBFS offers our client. Contact us today and let us walk you through the benefits of our critical illness policies.
