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Point of View

Health checks: your health impacts on your financial plans

We can’t predict what is going to happen in the future, but what most of us hope for is health, wealth and happiness...  

When we speak to clients, there is often the assumption that good health is a given. Retirement plans are based around longevity and with the introduction of new pension freedoms, many assume that they we will be fit to go on working long past a given retirement date, should they choose.
We rarely have meetings where a client brings their most recent health check into the conversation. Yet taking care of our health and ensuring that there are no underlying serious concerns (as far as is possible) is an ideal partner to financial planning, if the mantra of wealth, health and happiness is what we are looking to achieve. 
Investing a small sum of money to book a health check is something many of us fail to do and yet when we stop to think about it, it should be considered as a priority. Many of us look after our cars with rigour with an annual service and MOT, yet fail to do the same for our own bodies. 
A health check can often flag up problems before they become a serious health condition. Silent illnesses, such as high blood pressure or cholesterol problems can be treated hopefully before long-term damage is done to your health. They can also identify more serious problems and prompt urgent treatment before the later stages of illness and symptoms present themselves. Medical screenings can be held near to work or close to home and will provide feedback and information in a number of areas which may include  general health markers, liver and kidney function, energy,  muscles and bones, a check for diabetes and gout, a full lipid test, an ECG, biometric analysis and lung function test. You can also include a thyroid and prostate or ovarian test as well as a full haematology profile.
If a serious health concern is flagged up the focus is on treatment, but inevitably, if it is a serious condition, then it can trigger a change in lifestyle. Health problems shift peoples priorities and can change financial plans both in the short and long term.
Some financial advisers now suggest that their clients periodically invest the time to have health screens. There are many private health care providers who offer screens, including Bupa, Nuffield, BMI, Prevent, Screenetics and Bluecrest to name but a few. If you are considering a health check then speak to your financial adviser who may be able to secure preferential rates for screening through group schemes they offer, which may be cheaper than arranging an appointment directly with the provider. It may also be worth checking with your current employer as they may provide health screens as an employee benefit.  
Sanlam have relationships with all health care providers to allow for us to offer health screening to both our corporate employer and personal clients, at preferential rates. To find out more speak to your adviser or email us at letstalk@sanlam.co.uk.

Please remember any views or facts expressed above are based on information received from a variety of sources which we believe to be reliable, but are not guaranteed as to accuracy or completeness. Any expressions of opinion are subject to change without notice. None of the information should be regarded as advice. Past performance is not a reliable indicator of future results. Investing involves risk and the value of investments and the income from them may fall as well as rise and is not guaranteed. Investors may not get back the original amount invested. Any tax treatment is dependent upon individual client circumstances and may be subject to change.

Sanlam is a trading name of Sanlam Wealth Planning UK Limited (Reg. in England 3879955) and English Mutual Limited (Reg. in England 6685913). English Mutual Limited is an appointed representative of Sanlam Wealth Planning UK Limited which is authorised and regulated by the Financial Conduct Authority.

Registered Office: St. Bartholomew’s House, Lewins Mead, Bristol, BS1 2NH.

Investing involves risk and the value of investments and the income from them may fall as well as rise and are not guaranteed. Investors may not get back the original amount invested.