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Future-Proof Your Flourish

WeCovr Editorial Team · experienced insurance advisers
Last updated Feb 2, 2026
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TL;DR

The Freedom to Flourish: How Proactive Protection for Income, Health, and Family Security Unlocks Your Full Personal Potential and Builds a Resilient Future Amidst 2025's Evolving Health Landscape. To 'flourish' is to do more than simply exist. It's about growing, thriving, and reaching your full potential personally and professionally.

Key takeaways

  • NHS Waiting Lists: According to NHS England, the waiting list for routine hospital treatment continues to be a significant concern, with millions of people waiting for appointments. In early 2025, figures show this number remains stubbornly high, meaning longer, more anxious waits for diagnosis and treatment.
  • The Rise of Long-Term Conditions: The Office for National Statistics (ONS) reports a notable increase in the number of working-age adults living with long-term health conditions that limit their day-to-day activities. Conditions like long COVID, musculoskeletal issues, and mental health disorders are contributing to a sicker workforce.
  • Mental Health in Focus: While awareness has improved, the need for mental health support is soaring. The charity Mind reports that approximately 1 in 4 people in the UK will experience a mental health problem each year. Accessing timely support through the NHS can be challenging, leading many to suffer in silence or face the high cost of private therapy.
  • Depleted Savings: The Money Charity's research highlights a worrying trend: a significant portion of UK households have little to no savings to fall back on. Their latest statistics for 2025 show that millions of working families would be unable to cover their essential outgoings for even a single month if their primary income stopped.
  • The Gig Economy Reality: The rise of freelancing and self-employment offers flexibility but often at the cost of security. Data from IPSE (the Association of Independent Professionals and the Self-Employed) shows that a record number of people are now self-employed. For this growing segment of the workforce, there is no employer sick pay, no death-in-service benefit, and no safety net beyond what they build themselves.

The Freedom to Flourish: How Proactive Protection for Income, Health, and Family Security Unlocks Your Full Personal Potential and Builds a Resilient Future Amidst 2025's Evolving Health Landscape.

To 'flourish' is to do more than simply exist. It's about growing, thriving, and reaching your full potential personally and professionally. It’s the confidence to pursue a passion project, the freedom to start a business, the peace of mind to be truly present with your family. Yet, in our increasingly complex world, this freedom can feel fragile. Lurking in the back of our minds are the 'what ifs' – what if I get sick? What if I can't work? How would my family cope?

In 2025, these aren't abstract fears. They are shaped by a very real and evolving landscape of health challenges and financial pressures. The lingering effects of the pandemic, growing NHS waiting lists, and the rising prevalence of long-term conditions mean that our health is less guaranteed than ever. Financially, the cost-of-living crisis has squeezed household savings, leaving many families just one missed paycheque away from difficulty.

This is where the power of proactive protection comes in. Far from being a reluctant expense, think of it as the foundational investment in your ability to flourish. By strategically safeguarding your income, your health, and your family's future, you remove the biggest roadblocks of uncertainty. You create a safety net that doesn't just catch you if you fall—it gives you the confidence to climb higher in the first place. This guide will explore how you can build that resilience and unlock your freedom to truly flourish.

The Modern Briton's Dilemma: Navigating the New Realities of Health and Finance

The ambition to build a better life for ourselves and our families is a constant. However, the ground beneath our feet is shifting. The challenges facing the average UK household in 2025 are a unique blend of health-related anxieties and financial fragilities.

An Unprecedented Strain on Health Services

The National Health Service remains a source of immense national pride, but it is under undeniable pressure. The latest data paints a stark picture:

  • NHS Waiting Lists: According to NHS England, the waiting list for routine hospital treatment continues to be a significant concern, with millions of people waiting for appointments. In early 2025, figures show this number remains stubbornly high, meaning longer, more anxious waits for diagnosis and treatment.
  • The Rise of Long-Term Conditions: The Office for National Statistics (ONS) reports a notable increase in the number of working-age adults living with long-term health conditions that limit their day-to-day activities. Conditions like long COVID, musculoskeletal issues, and mental health disorders are contributing to a sicker workforce.
  • Mental Health in Focus: While awareness has improved, the need for mental health support is soaring. The charity Mind reports that approximately 1 in 4 people in the UK will experience a mental health problem each year. Accessing timely support through the NHS can be challenging, leading many to suffer in silence or face the high cost of private therapy.

A Precarious Financial Foundation

Alongside these health concerns, the financial resilience of many UK households is being tested.

  • Depleted Savings: The Money Charity's research highlights a worrying trend: a significant portion of UK households have little to no savings to fall back on. Their latest statistics for 2025 show that millions of working families would be unable to cover their essential outgoings for even a single month if their primary income stopped.
  • The Gig Economy Reality: The rise of freelancing and self-employment offers flexibility but often at the cost of security. Data from IPSE (the Association of Independent Professionals and the Self-Employed) shows that a record number of people are now self-employed. For this growing segment of the workforce, there is no employer sick pay, no death-in-service benefit, and no safety net beyond what they build themselves.
  • The Inadequacy of State Support (illustrative): Statutory Sick Pay (SSP) in the UK stands at just £116.75 per week (2024/25 rate). For the vast majority of people, this is a fraction of their regular earnings and wholly insufficient to cover mortgage or rent payments, utility bills, and food costs.

This convergence of health uncertainty and financial fragility creates a perfect storm. A sudden illness or injury doesn't just impact your wellbeing; it can trigger a devastating financial crisis, derailing your life plans and placing immense strain on your loved ones.

Building Your Fortress: The Three Pillars of Proactive Protection

To counter this uncertainty, you need a robust defence. A comprehensive protection strategy is built on three core pillars, each designed to shield a different aspect of your life from financial shock. Think of them as the foundations, walls, and roof of your financial fortress.

Pillar 1: Safeguarding Your Income with Income Protection

Your ability to earn an income is your single most valuable asset. It pays for everything – your home, your food, your family's lifestyle. What would happen if it suddenly stopped?

Income Protection insurance is designed to answer that question. It pays out a regular, tax-free monthly income if you are unable to work due to any illness or injury. It continues to pay out until you can return to work, your policy ends, or you retire, whichever comes first.

Who is it for?

Frankly, almost every working adult. But it is absolutely essential for:

  • The Self-Employed & Freelancers: You have no employer sick pay to fall back on. Income Protection is your personal safety net.
  • Small Business Owners & Company Directors: Your income may be tied directly to your ability to run the business.
  • Tradespeople & Manual Workers: Those in riskier jobs, like electricians, plumbers, and construction workers, face a higher physical risk of injury. A specialised form of short-term income protection, sometimes called Personal Sick Pay, can be ideal.
  • Anyone with limited employer benefits: Even if your employer offers sick pay, it's often for a limited period (e.g., 3-6 months). Income Protection kicks in when your employer's support runs out.

Understanding the Jargon:

  • Deferment Period: This is the waiting period between when you stop working and when the policy starts paying out. It can be anything from 1 day to 12 months. The longer the deferment period you choose, the lower your premium. You can align this with any employer sick pay or your savings.
  • Benefit Amount: You can typically cover 50-70% of your gross monthly income. This is to ensure you have an incentive to return to work. The income is paid tax-free.
  • Definition of Incapacity: This is crucial.
    • Own Occupation: The best definition. It pays out if you are unable to do your specific job.
    • Suited Occupation: Pays out if you cannot do your own job or a similar one based on your skills and experience.
    • Any Occupation: The most basic. Only pays out if you are unable to do any kind of work. We always recommend an 'Own Occupation' policy where possible.

Statutory Sick Pay vs. Income Protection

FeatureStatutory Sick Pay (SSP)Typical Income Protection
Payout Amount£116.75 per week (fixed)50-70% of your salary (e.g., £2,000/month)
DurationMax. 28 weeksUntil you return to work or retire
Who Gets ItEmployees earning above a thresholdAnyone who takes out a policy
ControlGovernment-set rateYou choose your benefit level

For company directors, Executive Income Protection is a fantastic, tax-efficient alternative. The company pays the premium, which is typically an allowable business expense, and the benefit is paid to the company to then distribute as income to the director.

Pillar 2: Shielding Your Health with Critical Illness Cover

While Income Protection replaces a lost salary over time, Critical Illness Cover is designed to provide a large, tax-free lump sum on the diagnosis of a specified serious illness.

Imagine being diagnosed with cancer, or suffering a heart attack or stroke. The last thing you or your family should be worrying about is money. This lump sum provides immediate financial relief and, crucially, options.

What can the lump sum be used for?

  • Clearing or reducing your mortgage
  • Covering lost earnings for a spouse who needs to take time off to care for you
  • Funding private medical treatment or specialist consultations
  • Making adaptations to your home (e.g., a wheelchair ramp)
  • Paying for a recuperative holiday to aid your recovery
  • Simply reducing financial stress so you can focus 100% on getting better

The 'big three' conditions covered by all policies are cancer, heart attack, and stroke, but modern policies can cover over 100 specified conditions, including multiple sclerosis, motor neurone disease, and major organ transplant. It's vital to check the policy documents for the exact definitions and conditions covered.

A Real-Life Example:

Mark, a 45-year-old graphic designer and father of two, suffered a major stroke. His employer's sick pay ran out after six months, but his recovery was slow. His Critical Illness policy paid out a lump sum of £150,000. This allowed his wife to reduce her working hours to support him, cleared their outstanding car loan, and paid for intensive private physiotherapy to accelerate his recovery. The financial cushion removed a huge layer of stress, allowing the family to focus on what mattered most: Mark's health. (illustrative estimate)

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Pillar 3: Securing Your Family's Future with Life Insurance

Life insurance is perhaps the most well-known form of protection, but its purpose is often misunderstood. It's not for you; it's for the people you leave behind. It pays out a lump sum or a regular income upon your death, providing a financial lifeline for your loved ones at the most difficult of times.

There are several different types, designed for different needs.

  • Level Term Assurance: You choose a lump sum amount (the 'sum assured') and a policy term (e.g., 25 years). If you die within that term, the policy pays out the fixed lump sum. This is ideal for covering an interest-only mortgage or providing a significant legacy for your children's future.
  • Decreasing Term Assurance: The sum assured decreases over the policy term, usually in line with a repayment mortgage. As you pay off more of your mortgage, you need less cover. This makes it a very cost-effective way to ensure your family can remain in their home.
  • Family Income Benefit: This is a clever and often overlooked alternative. Instead of a single lump sum, it pays out a regular, tax-free monthly or annual income from the point of claim until the end of the policy term. This can be easier for a bereaved family to manage than a large lump sum and directly replaces the lost monthly income.

Comparing Core Life Insurance Products

ProductBest ForHow It Works
Level TermInterest-only mortgages, family legacyPays a fixed lump sum on death during the term.
Decreasing TermRepayment mortgages, covering a specific debtPayout amount reduces over time. Cheaper.
Family Income BenefitYoung families, replacing a monthly salaryPays a regular tax-free income until the policy ends.

A more specialist policy, Gift Inter Vivos Insurance, is designed for Inheritance Tax (IHT) planning. If you gift a large sum of money or an asset, it may be subject to IHT if you die within seven years. This policy provides a lump sum to cover that potential tax bill, ensuring your beneficiaries receive the full value of your gift.

Beyond the Basics: Tailoring Protection for Your Unique Life

Once you understand the three pillars, you can begin to tailor your protection to your specific circumstances. This is particularly important for those running their own business.

Essential Cover for Company Directors and Business Owners

If you own or are a key director in a limited company, your personal and business finances are intertwined. A personal illness doesn't just affect your family; it can threaten the entire business.

  • Key Person Insurance: Imagine your top salesperson, your lead developer, or you yourself were suddenly unable to work long-term. How would that impact your company's profits, client relationships, and ability to operate? Key Person Insurance is taken out and paid for by the business. It pays a lump sum to the business if a key individual dies or is diagnosed with a critical illness, providing funds to recruit a replacement, cover lost profits, or reassure lenders.
  • Relevant Life Cover: This is a highly tax-efficient way for a small business to provide a 'death-in-service' benefit for an employee or director. The company pays the premiums, which are not treated as a P11D benefit-in-kind and are usually an allowable business expense. The payout goes directly to the individual's family, free of IHT.
  • Shareholder or Partnership Protection: What happens if one of your business partners dies? Their share of the business typically passes to their family, who may have no interest or skill in running the company. They may want to sell the shares, but to whom? This can lead to messy, protracted, and damaging disputes. Shareholder Protection provides a lump sum to the surviving partners, allowing them to buy the deceased partner's shares from their estate at a pre-agreed price, ensuring a smooth and fair transition of ownership.

Navigating these options can be complex. This is where an expert broker like us at WeCovr can be invaluable, helping you understand the nuances of products like Key Person Insurance or Relevant Life Cover and comparing the market to find the most suitable, tax-efficient solutions for your business.

Protecting Your Most Precious Assets: Your Family

For parents, protection takes on an even greater significance.

  • Writing Policies in Trust: This is one of the most important yet underused aspects of life insurance. Placing your policy in a trust is a simple legal arrangement that ensures the payout goes directly to your chosen beneficiaries without delay. It bypasses the lengthy process of probate and ensures the money is not considered part of your estate for Inheritance Tax purposes. Most insurers offer this service for free.
  • Children's Critical Illness Cover (illustrative): Many adult Critical Illness policies now include a smaller amount of cover for your children as a standard benefit (e.g., £25,000). This provides a financial buffer if your child is diagnosed with a serious condition, allowing a parent to take time off work to care for them without financial worry.

The Wellness Dividend: How Protection Fuels a Healthier Lifestyle

The benefits of a robust protection plan extend far beyond the financial. There is a powerful, often overlooked 'wellness dividend'.

Firstly, there is the immense psychological benefit. By removing the gnawing anxiety of 'what if', you free up mental and emotional energy. This reduction in chronic stress has a direct positive impact on your physical health and allows you to focus on growth, creativity, and being present in your life.

Secondly, the insurance industry itself is evolving. In 2025, the best insurers are no longer just passive providers of cheques. They are active partners in your wellbeing. Many top-tier policies now include a suite of value-added benefits at no extra cost, such as:

  • 24/7 Virtual GP Services: Skip the NHS queues and get a video consultation with a GP at a time that suits you.
  • Mental Health Support: Access to counselling sessions, therapy, and digital mental wellbeing tools.
  • Second Medical Opinions: If you receive a serious diagnosis, you can get access to a world-leading specialist to review your case and treatment plan.
  • Fitness and Nutrition Programmes: Get discounts on gym memberships, fitness trackers, and expert-led health coaching.

At WeCovr, we believe in supporting our clients' holistic wellbeing. That’s why, in addition to finding you the right insurance policy, we provide complimentary access to our AI-powered calorie tracking app, CalorieHero. It's our way of going the extra mile, helping you proactively manage your health, which is, after all, your greatest asset.

Taking the First Step: How to Build Your Personal Protection Plan in 2025

Getting started can feel daunting, but it can be broken down into a simple, logical process.

  1. Assess Your Needs: This is your foundation. Grab a piece of paper and list your key financial commitments. What is your outstanding mortgage? Do you have other debts (loans, credit cards)? What are your essential monthly outgoings (bills, food, childcare)? How much income would your family need to maintain their lifestyle if you weren't around?
  2. Review Your Existing Cover: Check your employment contract. What sick pay do you receive, and for how long? Do you have any 'death-in-service' benefits? This cover is valuable, but remember it is tied to your job – if you leave, you lose it. It's rarely enough on its own.
  3. Understand Your Budget: Protection is about what's affordable and sustainable for you. A small amount of cover is infinitely better than no cover at all. A good adviser will work within your budget.
  4. Speak to an Expert: This is the most crucial step. The world of protection insurance is complex, with hundreds of products and definitions. An independent specialist broker, like our team here at WeCovr, doesn't just sell you a policy. We take the time to understand your unique circumstances, your health, your job, and your family's needs. We then search the entire UK market, comparing plans from all the major insurers to find the policy that fits you, not the other way around. This expert guidance costs you nothing and ensures you get the right cover at the best possible price.
  5. Be Honest on Your Application: When applying for insurance, you will be asked questions about your health, lifestyle, and family history. It is absolutely vital that you answer these with 100% honesty and accuracy. Withholding information, even if it seems minor, could give the insurer grounds to void your policy and refuse a claim just when your family needs it most.

Conclusion: From Financial Fear to Future Flourishing

In the uncertain landscape of 2025, leaving your future to chance is a gamble too great to take. The pillars of proactive protection—Income Protection, Critical Illness Cover, and Life Insurance—are not products born of fear. They are tools of empowerment.

They provide the concrete foundation upon which you can build your ambitions. They are the financial scaffolding that allows you to take calculated risks, whether that's starting a business, changing careers, or simply investing your energy into your passions and your family.

By taking thoughtful, deliberate steps today to shield yourself and your loved ones from the financial consequences of illness, injury, or death, you are doing more than just buying an insurance policy. You are buying freedom. The freedom from worry. The freedom of choice. The freedom to flourish.


What's the difference between Income Protection and Critical Illness Cover?

They serve different purposes and work well together. Income Protection pays a regular monthly income if you can't work due to any illness or injury, replacing your lost salary. Critical Illness Cover pays a one-off, tax-free lump sum if you are diagnosed with a specific serious condition listed on your policy. The lump sum can be used for anything you like, such as clearing a mortgage or paying for private treatment.

Do I need life insurance if I'm single with no children?

It depends on your circumstances. If you have a mortgage with a partner, life insurance could pay it off so they don't have to worry about losing their home. If you have no financial dependents or large debts, it may be less of a priority. However, you should still strongly consider Income Protection and Critical Illness Cover, as you would have no one to rely on financially if you were unable to work due to sickness.

How much does protection insurance cost?

The cost (the 'premium') varies significantly based on several factors: your age, your health, whether you smoke, your occupation, the type of cover you want, the amount of cover, and the policy term. For example, a young, healthy non-smoker in a low-risk office job will pay significantly less than an older smoker in a manual trade. An adviser can provide personalised quotes and help you find a plan that fits your budget. It's often more affordable than people think.

Is it worth getting advice from a broker?

Absolutely. A good independent broker or adviser provides two key benefits. First, they conduct a detailed fact-find to understand your specific needs and recommend the right type and level of cover. Second, they have access to the whole market and can compare policies and prices from dozens of insurers to find the best value. This expertise doesn't cost you anything and ensures you don't make a costly mistake by choosing an unsuitable policy.

Do I need to declare pre-existing medical conditions?

Yes, you must be completely honest and disclose your full medical history when you apply. Non-disclosure is one of the main reasons that claims are declined. If you have a pre-existing condition, the insurer might increase the premium, place an 'exclusion' on that specific condition, or in some cases, decline cover. An adviser can help you approach the insurers most likely to offer favourable terms for your condition.

Can I get cover if I'm self-employed?

Yes. In fact, for the self-employed, protection insurance is arguably even more important as you have no employer safety net. Insurers are very used to dealing with self-employed applicants. For Income Protection, they will typically look at your net profit or salary and dividends over the last 1-3 years to determine the level of cover you can have. Life and Critical Illness cover are assessed in the same way as for an employed person.

Sources

  • Office for National Statistics (ONS): Mortality, earnings, and household statistics.
  • Financial Conduct Authority (FCA): Insurance and consumer protection guidance.
  • Association of British Insurers (ABI): Life insurance and protection market publications.
  • HMRC: Tax treatment guidance for relevant protection and benefits products.

Related tools

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WeCovr is an FCA‑regulated insurance broker. We may earn a commission if you purchase a policy via us. This guide is written to be impartial and informational.

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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!

There is no need to wait until the renewal of your current policy.
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 experienced 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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Any questions?

Life, income protection, and/or critical illness insurance are safety nets, very important at a difficult time. If anything happened to you before your cover ends, your life or critical illness insurance would pay a lump sum to your family and/or you (if you took a critical illness or income protection cover) to help cover the losses. Being diagnosed with a critical illness can be devastating, and it won't help matters to be also worrying about how you would cope financially. With a life, income protection, or critical illness policy, you can choose how much cover you need, how you want the policy to pay out, and whether you want cover for both you and your partner. Income protection insurance pays you a regular income if you can't work because of sickness or disability and continues until you return to paid work or you retire. Also known as permanent health insurance, it is quite important for anyone who relies on a paycheck to cover their living costs, but it's particularly important if you're self-employed or own a small business, where your income might be a bit less stable.

Life, income protection, and critical illness insurance pay out millions to families every day. Your expert will explain to you that you need to be honest and open when applying for your insurance.

If you're single with no dependants then it may be that you don't need life assurance. However, if you were to become seriously ill and unable to work, you may benefit from a critical illness or income protection policy. They can help you keep up to date with your rent, bills, food, and other expenses.

It's free to use WeCovr to find life, income protection, and critical illness insurance - we never charge you for quotes. Critical illness, income protection, and life insurance is an investment that pays many times over for you and/or your loved ones.

Life, income protection, and critical illness insurance are important financial products that insurance companies take a lot of care and diligence, so speaking to real human beings ensures that they understand your requirements fully so that you can get the right cover.

All of our partners are carefully vetted and authorised by the FCA, which means they are held to the highest standards that the FCA expects from them and treat all customers fairly!

Our insurance partners give us a few pounds when you take out a policy with one of their experts.

The cost of life insurance depends on several factors, including your age, occupation, health status, and the level of coverage you choose. Your life insurance policy is tailored to your needs, and the cost can vary based on the sum assured, policy term, and other factors.

Some life insurance policies offer an option to add critical illness cover as a rider or as a separate policy. This provides a lump sum payment if you are diagnosed with a critical illness covered by your policy, offering financial support during a difficult time.

Yes, life insurance is available to self-employed individuals to provide financial protection for their loved ones in the event of their death. It ensures that your family can maintain their standard of living and cover expenses such as mortgage payments, bills, and education costs.

If you outlive your life insurance policy and it expires without a claim, you will not receive any payout. Term life insurance policies are designed to provide coverage for a specific period, and once that period ends, the policy terminates without any residual value. However, you can typically renew or purchase a new policy if you still need coverage.

Critical illness insurance provides a lump sum payment if you're diagnosed with a serious illness covered by your policy, offering financial support during a difficult time. It can help cover medical expenses, mortgage payments, and other financial obligations while you focus on recovery.

Critical illness insurance covers a range of serious illnesses and medical conditions specified in your policy, such as cancer, heart attack, stroke, and organ failure. The lump sum payment can be used to cover medical treatment, ongoing care, and living expenses during your recovery.

The cost of critical illness insurance varies depending on factors such as your age, health status, lifestyle, and the level of coverage you choose. Our experts can provide personalised quotes to help you find affordable coverage.

Yes, you can have critical illness insurance alongside your health insurance coverage. Critical illness insurance provides additional financial protection specifically for serious illnesses, complementing your health insurance benefits.

Critical illness insurance policies typically have exclusions for pre-existing conditions and certain medical conditions not covered by the policy. It's essential to review the terms and conditions of your policy to understand what is and isn't covered.

Some critical illness insurance policies may provide coverage for recurring illnesses, while others may not. It's crucial to review the policy terms and understand the specific conditions under which you can make additional claims for recurring illnesses. Your insurer can provide more details on their coverage for recurring critical illnesses.

Yes, you can customise your life insurance policy to suit your individual needs and circumstances. Options may include choosing the sum assured, policy term, premium payment frequency, and additional riders for enhanced coverage.

If you miss a premium payment for your life insurance policy, your coverage may lapse, and your policy could be terminated. However, many insurers offer a grace period during which you can make the payment to keep your policy active. It's essential to contact your insurer to discuss your options if you're unable to make a payment.

Yes, you can typically change the beneficiary of your life insurance policy at any time by completing a beneficiary change form provided by your insurer. It's essential to keep your beneficiary designation up to date to ensure that the proceeds are distributed according to your wishes.

Term life insurance provides cover for a fixed period, such as 10, 20 or 30 years, and pays out a lump sum if you die during that time. It’s often chosen to protect a mortgage or to provide financial support while dependants still rely on your income. Whole-of-life insurance is designed to last for the rest of your life and guarantees a payout whenever you die, as long as premiums are maintained. It’s usually more expensive than term insurance and is sometimes used to help with inheritance tax planning or to leave a guaranteed legacy.

Some term life insurance policies offer the option to convert to a whole life insurance policy without the need for a medical exam or new underwriting. This conversion feature allows you to maintain coverage beyond the term of your policy and provides lifelong protection.

Some life insurance policies offer accelerated death benefits or living benefits that allow you to access a portion of the death benefit if you are diagnosed with a terminal illness. This feature provides financial assistance to help cover medical expenses and other costs during your final months.

While having savings can provide a financial cushion during tough times, income protection insurance offers additional security by replacing a portion of your income if you're unable to work due to illness or disability. It ensures that you can maintain your standard of living and cover essential expenses even if your savings are depleted.

Yes, self-employed individuals can claim income protection insurance if they're unable to work due to illness or disability. Income protection provides a regular income stream to replace lost earnings, helping self-employed individuals cover their living expenses and business costs during periods of incapacity.

The waiting period, also known as the elimination period, is the length of time you must wait after becoming unable to work due to illness or disability before you can start receiving benefits from your income protection insurance policy. Waiting periods typically range from 30 to 90 days, but longer waiting periods may result in lower premiums.

Income protection insurance is designed to provide financial support if you're unable to work due to illness or disability, not for redundancy. However, some policies may offer optional redundancy cover or unemployment cover as an additional benefit, providing a lump sum or monthly payments if you're made redundant.

The tax treatment of income protection insurance benefits depends on whether the premiums were paid with pre-tax or after-tax dollars. Benefits from policies funded with after-tax dollars are typically tax-free, while benefits from policies funded with pre-tax dollars may be subject to income tax. It's essential to consult with a tax advisor to understand the tax implications of your income protection insurance benefits.

Income protection insurance provides a regular income stream if you're unable to work due to illness or disability, while critical illness insurance provides a lump sum payment if you're diagnosed with a covered critical illness, such as cancer, heart attack, or stroke. Critical illness insurance offers financial support to cover medical expenses, living costs, or other obligations during your recovery.

Income protection insurance policies typically have a waiting period (also known as an elimination period) during which you do not receive benefits. If you become unable to work before this waiting period ends, you will not receive any income protection benefits until the waiting period has elapsed. It's important to have sufficient savings or other financial resources to cover your expenses during this initial period.

Many income protection insurance policies allow you to increase your coverage amount if your income rises, without the need for additional underwriting or medical examinations. This feature, sometimes called a 'guaranteed insurability option,' ensures that your coverage keeps pace with your increasing income and financial obligations.

The maximum age to purchase critical illness insurance varies depending on the insurer and the specific policy. While some insurers may offer critical illness insurance up to age 70 or beyond, others may have lower age limits. It's essential to check with insurers to determine their age eligibility criteria for purchasing critical illness insurance.

Whether you can get critical illness insurance if you have pre-existing conditions depends on the insurer's underwriting guidelines and the specific medical conditions. Some insurers may offer coverage with exclusions for pre-existing conditions, while others may decline coverage altogether. It's essential to disclose any pre-existing conditions when applying for critical illness insurance and discuss your options with insurers.

While health insurance provides coverage for medical expenses, critical illness insurance offers financial protection for broader expenses associated with a serious illness, such as lost income, household bills, and lifestyle changes. Critical illness insurance complements health insurance by providing additional financial support during a challenging time, ensuring that you can focus on recovery without worrying about financial burdens.

If you don't make a claim on your critical illness insurance during the policy term, you won't receive a benefit payout. However, having critical illness insurance provides peace of mind knowing that you're financially protected if you're diagnosed with a covered critical illness during the policy term. It's a form of financial preparation for unexpected events and offers valuable protection for you and your family.

If you outlive your critical illness insurance policy and don't make a claim for a covered critical illness during the policy term, the coverage will expire, and you won't receive a benefit payout. Critical illness insurance provides financial protection for a specific period, typically until a specified age or policy term, and offers peace of mind knowing that you're prepared for the unexpected.

Yes, many insurers offer optional riders or add-ons that you can add to your critical illness insurance policy for enhanced coverage. Common riders may include waiver of premium, which waives future premium payments if you become disabled, or return of premium, which refunds a portion of your premiums if you don't make a claim during the policy term. It's essential to review available riders with insurers to customise your coverage to meet your specific needs.

To make a claim on your critical illness insurance policy, you'll need to notify your insurer of your diagnosis and submit a claim form along with any required medical documentation, such as medical reports, test results, and physician statements. Once your claim is reviewed and approved by the insurer, you'll receive the lump sum benefit payment, which you can use to cover medical expenses, living costs, or other financial needs during your recovery.

As we age, the likelihood of encountering health complications increases for us all. In the event that you develop a severe medical condition, critical illness protection can assist with the expenses of crucial bills – enabling you to concentrate on recuperation or adjusting to your new health circumstance.

The typical expense of a Critical Illness protection policy will fluctuate based on aspects such as your age and medical background. As per our investigation, you can secure a policy starting from as low as £8 (for a non-smoking 21-year-old individual).

The most prevalent critical illnesses in the UK are cancer, cardiac arrest, and cerebrovascular accident (stroke).

Cancer is one of the primary causes for critical illness insurance claims in the UK. Cancer constitutes over 80% of critical illness cover claims for females and about 45% of critical illness claims for males.

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