Whether you suffer from a recurring health problem, or you have been diagnosed recently with a long-term illness, you may be worried about your financial situation. Not being able to carry out your current job, or not being able to work at all will certainly have an effect on your income, which in turn could cause further stress and anxiety.

How to handle long-term sickness

Some people have insurance that will pay out either a lump sum or a monthly amount if they are diagnosed with an illness that prevents them from working. If you think you have such an insurance policy, you should find it and read it thoroughly, to make sure that your particular illness is covered by the policy and to find out what you need to do to make a claim. If you are covered, the policy will provide some financial assistance to you, but it may not be enough to cover your living costs. You may need to also consider some of the following:

• Selling your home – depending on the nature of your illness or incapacity, your current house may be too big, or need improving in order to provide you with comfortable accommodation. It may also be too expensive to keep, particularly if you have lost a significant amount of income. A good option is to sell your home, so that you can release the money that's tied up in it. You can then buy somewhere smaller or more convenient, and invest any money that's left over for long-term income.

• Applying for benefits – you should be able to claim some form of benefits if you have been signed off with illness, or you are incapable of working. Try visiting your local Citizens Advice Bureau, or getting in touch with the Department of Work and Pensions, which handles all benefits of this type.

• Other work – although you may not be able to go back to your old job, there may be other things you can do. If you are able, look for part-time work, or even work that can be done from home. This will help to supplement your income, as well as keeping you busy.

If you need to sell your property to finance long-term sickness, contact us at Discount Property Auction. We're committed to helping you, whatever your circumstances. If you want to sell your home, you can use our dedicated online auction facility, which allows you to upload your property yourself and put it in front of genuine, interested buyers. Call us now on 0800 1313 999 or email admin@discountpropertyauction.co.uk to arrange a valuation today.