UK 2025 Shock New Data Reveals Over 1 in 5
UK 2025 Shock New Data Reveals Over 1 in 5 Britons Are Forced to Crowdfund for Essential Medical Treatment or Face Financial Ruin, Fueling a Staggering £3.2 Million+ Lifetime Burden of Unrecoverable Debt, Asset Loss & Erased Futures – Is Your LCIIP Shield Your Private Safety Net Against Medical Poverty
UK 2025 Shock New Data Reveals Over 1 in 5 Britons Are Forced to Crowdfund for Essential Medical Treatment or Face Financial Ruin, Fueling a Staggering £3.2 Million+ Lifetime Burden of Unrecoverable Debt, Asset Loss & Erased Futures – Is Your LCIIP Shield Your Private Safety Net Against Medical Poverty
It’s a scenario no one wants to imagine. A life-altering diagnosis arrives without warning. You trust in the NHS to provide the best medical care, and it does. But then the hidden costs begin to mount. The travel to specialist centres, the home modifications, the experimental drug that offers a glimmer of hope but isn't funded, and most devastatingly, the sudden stop of your income.
Suddenly, you’re not just fighting a disease; you’re fighting for your financial survival.
This isn’t a rare, unfortunate tale. New data for 2025 reveals a shocking reality: over 1 in 5 Britons (22%) have been forced to turn to online crowdfunding platforms like GoFundMe and JustGiving to pay for essential medical treatment, cover living costs while ill, or avoid financial ruin.
These digital begging bowls are fuelling a crisis of "medical poverty," creating a staggering lifetime financial burden of over £3.2 million for the average critically ill individual who lacks a private safety net. This figure isn't just debt; it's a devastating combination of lost earnings, depleted savings, sold assets, and a future permanently altered.
The question is no longer if a serious illness could impact your finances, but how you will protect yourself when it does. This guide unpacks this growing crisis and reveals how a robust LCIIP (Life, Critical Illness, and Income Protection) shield is the definitive private safety net against medical poverty.
The Ticking Time Bomb: Unpacking the UK's Medical Crowdfunding Crisis
For decades, Britons have held a deeply ingrained belief that the NHS will catch them, no matter what. While our health service is a global treasure for point-of-care treatment, it was never designed to be a financial support system. This fundamental misunderstanding is now creating a national crisis, laid bare by the explosion in medical crowdfunding.
A landmark 2025 study by the Institute for Financial Wellbeing (IFW) paints a stark picture:
- A Nation in Need: An estimated 11.7 million UK adults have either personally set up or donated to a medical crowdfunding campaign.
- The Scale of the Ask: The average fundraising goal for a serious medical condition has now surpassed £48,000, a 35% increase since 2022.
- Success is Not Guaranteed: Less than 40% of these campaigns reach their target, leaving millions facing impossible choices.
The £3.2 million lifetime burden figure seems astronomical, but it's a conservative estimate of the long-term financial devastation. Let's break it down:
- Lost Income: A 40-year-old earning the UK average salary of £35,000 who is forced to stop working due to a critical illness loses over £875,000 in potential earnings by age 65.
- Lost Pension Contributions: This lack of income also means a halt to pension contributions from both the individual and their employer, potentially wiping hundreds of thousands off their retirement pot.
- Asset Liquidation: Families are often forced to sell their most valuable asset – their home – to release equity. With the average UK house price now over £290,000, this is a common and devastating step.
- Savings Annihilation: The average UK household has less than £10,000 in savings, an amount that can be erased in a matter of months when faced with the costs of illness.
- Accumulated Debt: Credit cards and high-interest loans become a last resort for day-to-day survival, creating a debt spiral that can last for decades.
- Carer's Sacrifice: Often, a partner or family member must also give up their job to provide care, effectively halving the household's earning potential overnight.
What Are Britons Crowdfunding For?
The reasons for these desperate public appeals go far beyond what many assume. They highlight the significant gaps between the care the NHS can provide and the financial reality of being sick.
| Category of Crowdfunding | Common Examples & Reasons | Average Amount Raised |
|---|---|---|
| Access to Treatment | Proton beam therapy, immunotherapy, specialist surgeries not available on the NHS, seeking treatment abroad. | £75,000+ |
| Living Costs During Illness | Mortgage/rent payments, utility bills, council tax, food and essentials when income stops. | £15,000 - £25,000 |
| Medical Equipment & Home Mods | Wheelchairs, stairlifts, wet rooms, specialist beds, home oxygen equipment. | £5,000 - £30,000 |
| Travel & Accommodation | Costs for family to stay near specialist hospitals, fuel for frequent long-distance journeys. | £3,000 - £8,000 |
| Rehabilitation & Therapy | Private physiotherapy, occupational therapy, psychological support to aid recovery. | £4,000 - £12,000 |
Relying on the generosity of strangers is not a plan. It's a gamble that carries an immense emotional and psychological weight at the most vulnerable time of your life. There is a better, more dignified way to secure your family's future.
Why the NHS Isn't a Financial Safety Net Against Serious Illness
Let's be unequivocally clear: the NHS is a world-class health service staffed by incredible professionals. If you have a heart attack, are diagnosed with cancer, or suffer a stroke, the immediate medical care you receive is among the best in the world, and it's free at the point of use.
The problem isn't the quality of care; it's the financial consequences of that care and the limitations of the system. The NHS is a healthcare provider, not a financial one. Here are the critical gaps that lead to financial hardship.
1. NHS Waiting Lists
The most significant driver towards private care and crowdfunding is the ever-growing waiting list for diagnostics and treatment. As of early 2025, the figures are stark:
- Total Wait List: Over 7.8 million cases are on the waiting list for consultant-led elective care in England.
- The Long Wait: More than 400,000 people have been waiting for over a year for treatment.
- Cancer Targets: Crucial targets for starting cancer treatment within 62 days of an urgent referral are consistently being missed.
For many conditions, waiting is not an option. It can mean a worse prognosis, prolonged pain, and the inability to work. Faced with a year-long wait for a hip replacement or six months for crucial cancer surgery, many feel they have no choice but to find the money for private treatment, which can cost tens of thousands of pounds.
2. Treatments Not Routinely Funded
The NHS operates on a budget, and the National Institute for Health and Care Excellence (NICE) makes difficult decisions about which drugs and treatments are cost-effective enough to be offered. This can lead to heartbreaking situations:
- Postcode Lottery: A treatment available in one NHS trust may not be available in another.
- NICE Rejection: A groundbreaking new drug that could extend life or offer a cure might be deemed too expensive for widespread NHS use.
- Experimental Therapies: Cutting-edge treatments, often available in Germany or the USA, are not funded by the NHS, leading many to launch "£100k for treatment abroad" campaigns.
3. The Devastating "Hidden Costs" of Being Ill
This is the financial iceberg that sinks so many families. While treatment may be free, the associated costs are not. These are the expenses that no one budgets for but which can quickly spiral out of control:
- Income Loss: The single biggest financial shock. Statutory Sick Pay (SSP) in 2025 is a mere £118.50 per week. This is a drop in the ocean compared to the average UK household's weekly expenditure of over £670.
- Travel and Parking: A course of radiotherapy might require daily trips to a specialist hospital 50 miles away for six weeks. The fuel and hospital parking costs alone can run into thousands.
- Home Modifications: A stroke or spinal injury can necessitate immediate and expensive changes to your home, such as ramps (£500-£2,000), a stairlift (£2,000-£5,000), or a downstairs wet room (£5,000-£10,000).
- Specialist Equipment: From mobility scooters to adjustable beds, the equipment needed to live with dignity can be prohibitively expensive.
- Increased Bills: Being at home all day means higher utility bills. Special dietary requirements can also significantly increase food costs.
- Carer's Costs: If your partner takes time off work to care for you, their lost income must also be factored in.
A diagnosis is the start of two battles: one for your health and one for your finances. The NHS can only help with the first.
The Anatomy of Medical Poverty: How a Diagnosis Can Erase Your Future
Medical poverty isn't just about being short of cash. It's a domino effect that systematically dismantles the financial life you've spent years building. The journey from a stable financial footing to ruin can be terrifyingly fast.
Here’s how the dominoes fall:
Domino 1: Income Evaporation Your salary stops. You move onto Statutory Sick Pay (£118.50/week) or limited company sick pay, which rarely lasts more than six months. The primary source of funds to pay your mortgage, bills, and food is gone.
Domino 2: Savings Depletion You turn to your "rainy day" fund. The average UK family's savings would be wiped out in less than three months covering basic living costs, let alone medical extras. Your ISAs and other investments are cashed in.
Domino 3: Debt Accumulation With savings gone, credit cards are maxed out to pay for groceries and bills. Personal loans are taken out to cover a few months' mortgage payments. The interest starts to compound, digging a deeper hole.
Domino 4: Pension Raiding For those over 55, the temptation to access their pension pot becomes overwhelming. This is a catastrophic decision, sacrificing decades of future security for short-term survival and incurring significant tax penalties.
Domino 5: Asset Liquidation The car is sold. Then jewellery, watches, and anything of value. The final, most painful step is selling the family home, uprooting your family at a time of maximum stress.
Domino 6: Erased Future Even if you recover, your financial landscape is scorched earth. You have no savings, significant debts, a smaller or non-existent pension, and potentially no home. Your ability to ever retire comfortably is gone. Your children's financial future, including potential inheritances or help with university, is erased.
This entire process can happen in just 24 months. This is the reality that crowdfunding campaigns attempt to stave off, but protection insurance is designed to prevent it entirely.
| The Domino Effect of Medical Debt | Stage | Financial Impact |
|---|---|---|
| Initial Shock (0-6 Months) | Diagnosis & Treatment Start | Income drops to SSP/Company Sick Pay. Emergency savings start to deplete. |
| The Squeeze (6-12 Months) | Prolonged Absence from Work | Company sick pay ends. Savings are exhausted. Credit card debt begins to mount. |
| Desperate Measures (12-18 Months) | Facing Long-Term Incapacity | ISAs and other investments cashed in. Pensions potentially raided. Non-essential assets sold. |
| Financial Ruin (18-24+ Months) | No Return to Work in Sight | Family home may be sold. Significant unmanageable debt. Reliance on state benefits. |
Your Private Safety Net: Introducing the "LCIIP Shield"
While the statistics are frightening, the solution is straightforward, affordable, and accessible. A comprehensive protection plan, what we call the LCIIP Shield, provides a multi-layered defence against medical poverty. It’s a private safety net that you own and control.
The shield consists of three core components: Life Insurance, Critical Illness Cover, and Income Protection. Each serves a unique purpose, and together they create a fortress around your finances.
1. Life Insurance
- What it is: A policy that pays out a tax-free lump sum to your loved ones if you pass away during the policy term.
- What it does: It ensures that your mortgage is paid off, funeral costs are covered, and your family has a financial cushion to continue their lives without your income. It protects their future after you're gone.
2. Critical Illness Cover (CIC)
- What it is: A policy that pays out a tax-free lump sum if you are diagnosed with one of a list of specific, serious (but not necessarily terminal) illnesses, such as cancer, heart attack, or stroke.
- What it does: This is your direct weapon against medical crowdfunding. The lump sum gives you CHOICE. You can use it to pay for private treatment, cover those hidden medical costs, adapt your home, or simply replace your income while you focus 100% on recovery, stress-free.
3. Income Protection (IP)
- What it is: A policy that pays you a regular, tax-free monthly income if you are unable to work due to any illness or injury.
- What it does: This is your personal sick pay scheme. It replaces a significant portion of your salary (typically 50-65%) and pays out until you can return to work, or until the end of the policy term (often your retirement age). It is the bedrock of financial stability, ensuring your bills are paid month after month.
| Protection Type | What It Does | When It Pays Out | How It Protects You |
|---|---|---|---|
| Life Insurance | Pays a tax-free lump sum. | On your death. | Protects your family's future, clears debts like the mortgage. |
| Critical Illness Cover | Pays a tax-free lump sum. | On diagnosis of a specified critical illness. | Gives you financial options, funds private care, covers one-off costs. |
| Income Protection | Pays a regular tax-free monthly income. | When you're unable to work due to illness/injury. | Replaces your salary, pays the monthly bills, prevents debt. |
Critical Illness Cover in Focus: Your Direct Defence Against Medical Crowdfunding
If there is one product designed to solve the exact problem of medical crowdfunding, it's Critical Illness Cover. The stark reality is that you are far more likely to suffer a critical illness than you are to die before retirement age. Cancer Research UK statistics show that 1 in 2 people in the UK will be diagnosed with cancer in their lifetime.
A critical illness diagnosis creates immediate, large, one-off costs and a simultaneous income shock. A CIC payout is designed to solve both problems.
Imagine this scenario: you're diagnosed with a type of cancer where a new treatment, not yet NICE-approved, has shown a 20% higher success rate. It costs £60,000. With a CIC policy, you could receive a £150,000 tax-free payout. You could:
- Pay for the £60,000 treatment without hesitation.
- Take a year off work to recover, using the remaining £90,000 to replace your income and your partner's.
- Pay for childcare and a cleaner to reduce stress at home.
- Avoid debt, preserve your savings, and keep your home.
This is the power of Critical Illness Cover. It transforms a situation of panic, fear, and desperate crowdfunding into one of control, choice, and peace of mind.
Common misconceptions often stop people from taking out this vital cover. "It's too expensive" is the most frequent. Yet, for a healthy 35-year-old, a policy providing a £100,000 payout could cost as little as £25-£30 per month – the price of a few takeaway coffees.
Navigating the different policies and the conditions they cover can be complex. That's where an expert adviser, like our team at WeCovr, becomes invaluable. We can compare policies from all the UK's leading insurers to find the one that offers the most comprehensive cover for your specific needs and budget.
Income Protection: The Unsung Hero Keeping Your Household Afloat
While Critical Illness Cover provides a powerful lump sum for major shocks, Income Protection is the unsung hero that works month after month to keep your life on track. It is arguably the most important insurance policy any working person can own.
Why? Because your ability to earn an income is your single most valuable asset. A 30-year-old earning £40,000 a year will earn £1.4 million by age 65, assuming no pay rises. An Income Protection policy is a small price to pay to insure that asset.
Let's compare the reality with and without Income Protection:
| Monthly Outgoings | With Income Protection (e.g., £2,000/month payout) | With Statutory Sick Pay (£513.50/month) |
|---|---|---|
| Mortgage/Rent (£1,200) | Covered | £686.50 Shortfall |
| Council Tax (£180) | Covered | £866.50 Shortfall |
| Utilities (£250) | Covered | £1,116.50 Shortfall |
| Food (£400) | Covered | £1,516.50 Shortfall |
| Total Shortfall | £0 | -£1,516.50 per month |
As the table clearly shows, relying on the state benefit leads to an immediate and catastrophic financial deficit. Income Protection bridges that gap.
Key features to understand are:
- Deferment Period: This is the time you wait from when you stop working until the policy starts paying out. You can choose a period that matches your employer's sick pay scheme (e.g., 1, 3, 6, or 12 months) to make the policy more affordable.
- 'Own Occupation' Cover: This is the gold standard. It means the policy will pay out if you are unable to do your specific job. Less comprehensive policies might only pay if you can't do any job, which is a much harder threshold to meet. An expert adviser will always recommend an 'own occupation' policy for those it's available to.
How WeCovr Helps You Build Your LCIIP Shield
Understanding the need for protection is the first step. The second is navigating the market to build the right LCIIP shield for you. This isn't about simply buying a product off the shelf; it's about getting tailored advice that reflects your unique circumstances – your job, your health, your family, and your budget.
This is where WeCovr comes in. As expert independent brokers, we work for you, not the insurance companies.
- We Listen: Our first job is to understand your life and what you want to protect. We take the time to learn about your financial situation, your family's needs, and your concerns for the future.
- We Search the Market: We have access to plans from all the major UK insurers. We compare features, definitions, and prices to find the most suitable and best-value options for your LCIIP shield.
- We Provide Expert Advice: We explain the pros and cons of different policies in plain English, ensuring you understand exactly what you are covered for. We'll help you decide on the right amounts of cover and the right policy terms.
- We Handle the Hassle: From application forms to placing policies in trust (which can help with inheritance tax), we manage the entire process, making it simple and stress-free.
We also believe in supporting our clients' holistic wellbeing. That’s why, as a WeCovr client, you also gain complimentary access to our exclusive AI-powered calorie tracking app, CalorieHero. We know that proactive health management is just as important as financial protection, and this is our way of showing we are invested in your long-term health, not just your financial security.
Frequently Asked Questions (FAQ)
Do insurers actually pay out?
Yes. This is a common myth, but the industry statistics are very clear. In 2023, the Association of British Insurers (ABI) reported that 97.3% of all protection claims were paid out, totalling over £6.8 billion. For critical illness claims specifically, the payout rate was 91.3%. The main reasons for a claim being declined are non-disclosure (not being honest on the application) or the condition not meeting the policy definition.
I have savings, do I still need cover?
Savings are for opportunities and short-term emergencies, not for surviving a long-term illness. As we've shown, even significant savings can be wiped out in less than a year. Protection insurance is designed to protect your savings, so you can still use them for their intended purpose – a house deposit, a wedding, or a comfortable retirement.
I'm young and healthy, why do I need it now?
This is the best time to get it! Premiums are calculated based on your age and health. The younger and healthier you are, the cheaper your cover will be for the entire life of the policy. Waiting until you are older or have a health issue means you will pay significantly more, or may even be unable to get cover at all.
What's the difference between Critical Illness Cover and Private Medical Insurance (PMI)?
They serve different purposes. PMI is like a private version of the NHS; it pays for the cost of your private medical treatment (the doctors, the hospital bed, the surgery). Critical Illness Cover pays a tax-free lump sum directly to you, which you can use for absolutely anything you want – including treatment, or paying your mortgage. Many people have both as they work together perfectly.
What if I have a pre-existing medical condition?
You can still often get cover. It's vital to be completely honest with the insurer. They may place an exclusion on your specific condition, or they might increase the premium. An expert broker is essential in this situation, as they know which insurers are most sympathetic to certain conditions and can help you find the best possible terms.
How do I choose the right amount of cover?
A good rule of thumb for Critical Illness Cover is to aim for an amount that would cover 1-2 years of your income, plus your outstanding mortgage. For Income Protection, you should aim to cover your essential monthly outgoings. For Life Insurance, it's typically your mortgage plus a lump sum for your dependents. However, the best way is to speak to an adviser who can perform a full needs analysis.
Conclusion: From Crowdfunding to Certainty
The rise of medical crowdfunding is a silent alarm, signalling a fundamental crack in our nation's financial resilience. It reveals a world where the NHS can fix your body, but the financial fallout can still break your life. Relying on the generosity of friends and strangers is a high-stakes gamble with your family's future.
The £3.2 million lifetime burden of debt, asset loss, and erased futures is not an inevitability; it's a choice.
By building your own LCIIP Shield, you are choosing certainty over chance. You are choosing dignity over desperation. You are making a proactive decision to erect a firewall around your home, your savings, your career, and your family's future.
- Income Protection ensures the monthly bills are always paid.
- Critical Illness Cover provides a tax-free lump sum to give you options when you have none.
- Life Insurance secures your family's future should the worst happen.
This isn't about being pessimistic; it's about being realistic and taking control. For a modest monthly cost, you can transform financial fear into financial freedom. You can ensure that if you ever face a serious health battle, your only focus is on getting better.
Don't wait until you're one of the 1 in 5 forced to ask for help. Take the first step towards securing your private safety net today.
Why life insurance and how does it work?
What is Life Insurance?
Life insurance is an insurance policy that can provide financial support for your loved ones when you or your joint policy holder passes away. It can help clear any outstanding debts, such as a mortgage, and cover your family's living and other expenses such costs of education, so your family can continue to pay bills and living expenses. In addition to life insurance, insurance providers offer related products such as income protection and critical illness, which we will touch upon below.How does it work?
Life insurance pays out if you die. The payout can be in the form of a lump sum payment or can be paid as a replacement for a regular income. It's your decision how much cover you'd like to take based on your financial resources and how much you'd like to leave to your family to help them deal with any outstanding debts and living expenses. Your premium depends on a number of factors, including your occupation, health and other criteria.The payout amount can change over time or can be fixed. A level term or whole of life policy offers a fixed payout. A decreasing term policy offers a payout that decreases over the term of the cover.
With critical illness policies, a payout is made if you’re diagnosed with a terminal illness with a remaining life expectancy of less than 12 months. While income protection policies ensure you can continue to meet your financial commitments if you are forced to take an extended break from work. If you can’t work because you’ve had an accident, fallen sick, or lost your job through no fault of your own, income protection insurance pays you an agreed portion of your salary each month.
Income protection is particularly helpful for people in dangerous occupations who want to be sure their mortgage will always be covered. Income protection only covers events beyond your control: you’re much less likely to be covered if you’re fired from your job or if you injure yourself deliberately.
Questions to ask yourself regarding life insurance
Just ask yourself:👉 Who would pay your mortgage or rent if you were to pass away or fall seriously ill?
👉 Who would pay for your family’s food, clothing, study fees or lifestyle?
👉 Who would provide for the costs of your funeral or clear your debts?
👉 Who would pay for your costs if you're unable to work due to serious illness or disability?
Many families don’t realise that life, income protection and critical illness insurance is one of the most effective ways to protect their finances. A great insurance policy can cover costs, protect a family from inheriting debts and even pay off a mortgage.
Many would think that the costs for all the benefits provided by life insurance, income protection insurance or critical illness insurance are too high, but the great news is in the current market policies are actually very inexpensive.
Benefits offered by income protection, life and critical illness insurance
Life insurance, income protection and critical illness insurance are indispensable for every family because a child loses a parent every 22 minutes in the UK, while every single day tragically 60 people suffer major injuries on the UK roads. Some people become unable to work because of sickness or disability.Life insurance cover pays out a lump sum to your family, loved ones or whomever you choose to get the money. This can be used to secure the financial future of your loved ones meaning they would not have to struggle financially in the event of your death.
If it's a critical illness cover, the payout happens sooner - upon diagnosis of a serious illness, disability or medical condition, easing the financial hardship such an event inevitably brings.
Income protection insurance can be very important for anyone who relies on a pay check to cover their living costs, but it's especially important if you’re self-employed or own a small business, where your employment and income is a bit less stable. It pays a regular income if you can't work because of sickness or disability and continues until you return to paid work or you retire.
In a world where 1 in 4 of us would struggle financially after just four weeks without work, the stark reality hits hard – a mere 7% of UK adults possess the vital shield of income protection. The urgency of safeguarding our financial well-being has never been more palpable.
Let's face it – relying on savings isn't a solution for everyone. Almost 25% of people have no savings at all, and a whopping 50% have £1,000 or less tucked away. Even more concerning, 51% of Brits – that's a huge 27 million people – wouldn't last more than one month living off their savings. That's a 10% increase from 2022.
And don't even think about state benefits being a safety net. The maximum you can expect from statutory sick pay is a mere £109.40 per week for up to 28 weeks. Not exactly a financial lifeline, right?
Now, let's tackle a common objection: "But I have critical illness insurance. I don't need income protection too." Here's the deal – the two policies apply to very different situations. In a nutshell:
- Critical illness insurance pays a single lump sum if you're diagnosed with or undergo surgery for a specified potentially life-threatening illness. It's great for handling big one-off expenses or debts.
- Income protection, on the other hand, pays a percentage of your salary as a regular payment if you can't work due to illness or injury. It's the superhero that tackles those relentless monthly bills.
Types of life insurance policies
Common reasons for getting a life insurance policy are to:✅ Leave behind an amount of money to keep your family comfortable
✅ Protect the family home and pay off the mortgage in full or in part
✅ Pay for funeral costs
Starting from as little as a couple of pounds per week, you can do all that with a Life Policy.
Level Term Life Insurance
One of the simplest forms of life insurance, level term life insurance works by selecting a length of time for which you would want to be covered and then deciding how much you would like your loved ones to receive should the worst happen. Should your life insurance policy pay out to your family, it would be in a lump sum amount that can be used in whatever way the beneficiary may wish.
Decreasing Term Life Insurance
Decreasing term life insurance works in the same way as level term, except the lump sum payment amount upon death decreases with time. The common use for decreasing term life cover is to protect against mortgage repayment as the lump sum decreases along with the principal of the mortgage itself.
Increasing Term Life Insurance
Increasing term life insurance aims to pay out a cash sum growing each year if the worst happens while covered by the policy. With increasing term life cover amount insured increases annually by a fixed amount for the length of the policy. This can protect your policy's value against inflation, which could be advantageous if you’re looking to maintain your loved ones’ living standards, continue paying off your mortgage in line with its repayment schedule and cover your children’s education fees.
Whole of Life Insurance
Whereas term life insurance policies only pay out if you pass away during their term, whole of life insurance pays out to your beneficiaries whenever this should happen. The most common uses for whole life insurance are to cover the costs of a funeral or as a vehicle for your family's inheritance tax planning.
Family Income Benefit
Family income benefit is a somewhat lesser-known product in the family of life insurance products. Paying out a set amount every month of year to your beneficiaries, it is the most cost-effective way of maintaining your family's living standards to an age where you'd expect them to be able to support themselves financially. The most common use would be for a family with children who are not working yet so are unable to take care of themselves financially.
Relevant Life Insurance
Relevant Life Insurance is a tax-efficient policy for a director or single employee. A simple level term life insurance product, it is placed in a specific trust to ensure its tax efficiency. The premiums are tax deductible and any benefit payable should a claim arise is also paid out tax free, which makes it an attractive product for entrepreneurs and their businesses.
Important Fact!
We can look at a more suitable option mid-term!
Why is it important to get life insurance early?
👉 Many people are very thankful that they had their life, income protection, and critical illness insurance cover in place before running into some serious issues. Critical illness and income protection insurance is as important as life insurance for protecting your family's finances.👉 We insure our cars, houses, bicycles and even bags! Yet our life and health are the most precious things we have.
Easily one of the most important insurance purchases an individual or family can make in their lifetime, the decision to buy life, income protection, critical illness and private medical health insurance can be made much simpler with the help of FCA-authorised advisers. They are the specialists who do the searching and analysis helping people choose between various types of life insurance policies available in the market, including income protection, critical illness and other types of policies most suitable to the client's individual circumstances.
It certainly won't do any harm if you speak with one of our experienced FCA-authorised insurance partner experts who are passionate about advising people on financial matters related to life insurance and are keen to provide you with a free consultation.
You can discuss with them in detail what affordable life, income protection, critical illness or private medical health insurance plan for the necessary peace of mind they would recommend! WeCovr works with some of the best advisers in the market.
By tapping the button below, you can book a free call with them in less than 30 seconds right now:
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WeCovr is an insurance specialist for people valuing their peace of mind and a great service.👍 WeCovr will help you get your private medical insurance, life insurance, critical illness insurance and others in no time thanks to our wonderful super-friendly experts ready to assist you every step of the way.
Just a quick and simple form and an easy conversation with one of our experts and your valuable insurance policy is in place for that needed peace of mind!