In January I lost a very good friend to cancer. She was 30 and it was the fifth time she had been forced into a face-off with the big C. She was also a trusted and much loved colleague, a reporter of mine when I worked at This is Money, upstairs from the i. Her talent and diligence in carrying out her job were second to none; her confidence in her own abilities took some nurturing.
During the five years we worked together, Emma Gunn flourished as a journalist and also as a pioneer in her work writing about where those dealing with cancer either themselves or alongside loved ones could go for help with their finances. Given the insidiousness of cancer in society, those affected by it have to work hard to find out what support they are entitled to and how to deal with financial worries if they arise.
Emma wrote a series of pieces, still available online, on the subject of cancer and your finances. Her work revealed just how incredibly complex the financial side of dealing with cancer is. From health, income and travel insurance claims and negotiations to benefits available, support from charities and what you’re entitled to from your employer – the admin headache of sorting all of this out while dealing with the emotional trauma of cancer and the physical trauma of treatment is just unspeakable.
It is why, when Virgin Money said it has joined forces with Macmillan Cancer Support to train some of its customer-facing staff to help provide the best possible support to people affected by cancer, I was deeply affected.
Macmillan has done so much in this area – they were intrinsic in the help and information they gave to Emma while she researched her series. No-one wants to deal with cancer and have to worry about money at the same time. That a bank has taken this step to recognise the often overwhelming anxiety that accompanies this illness when faced with the prospect of being unable to work, and realising too late that income protection insurance would have been useful, is just so heartening.
Macmillan research shows over a quarter of a million people with cancer in the UK, one in 10 dealing with the illness, feel they have no one to talk to about their worries because of the pandemic. Around half a million people with cancer in the UK told the charity they were experiencing some kind of financial impact from the pandemic in the run-up to the current national lockdown. And they estimate more than 100,000 people with cancer are struggling to pay for basic essentials such as food, bills, rent or their mortgage as a result of the impact of Covid-19.
By training guides appropriately, to provide vital emotional support, information and signposting for further support to people in store, over the phone or via webchat, Virgin Money has set a bar that all banks, insurers, energy companies and financial services firms should meet.
iMoney discusses ethical and sustainable choices when it comes to our personal finances every week. Often, this means focusing on the green agenda and investing our pension and savings into endeavours that will help combat climate change. But being environmentally responsible is just part of what it means to be a decent, responsible member of society. Another part is how we treat other members of society, particularly those who are vulnerable and in need of support. Those with cancer deserve this. May more follow.
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