We all know life is a roller coaster, with tons of ups and downs and bad things can happen that are completely out of our control. This story just seemed like one worth telling.

Daniel Pym, Loan Market mortgage broker, met up with an existing clients in recent weeks to review their home loan. Little did he know what they were about to tell him!

Sally* and Dave* are a young couple in their mid 30’s who both used to work full time jobs, until Dave was made redundant. They have two children under the age of four. Dave tried very hard to find work but struggled for 8 months before finding another job – at a lower salary.

If that wasn’t enough to put them under pressure financially (never mind everything else), Dave was then diagnosed with cancer, meaning he had to take time off work for chemotherapy and recovery.

The combination of these two events can be devastating for any family. Fortunately however, the couple had set aside enough savings to live off one salary for the time Dave was away from work.

On the plus side though, Daniel had set up life, income and trauma insurance five years prior, obviously with no idea that this would happen. Daniel said “It was very relieving that night when a grateful family told me the income protection insurance I’d set up covered the majority of his wage whilst he was off work fighting cancer and even more relieved when the trauma insurance payment came through tax free, allowing them to have significant savings in the bank to cover medical bills.”

It just goes to show, that being responsible about savings and thinking ahead can sometimes be the best thing you ever do.

*Names have been changed.