Future-Proof Your Growth: The Resilience Edge
The 2025 Health Reality: With 1 in 2 UK Individuals Expected to Face a Lifetime Cancer Diagnosis, Discover How a Proactive Strategy for Financial Protection — Encompassing Comprehensive Income Security (Personal Sick Pay for Tradespeople, Nurses), Robust Life & Critical Illness Cover (including Family Income Benefit and Gift Inter Vivos for Legacy), and Priority Access with Private Health Insurance — Becomes the Indispensable Blueprint for Empowering Personal Growth, Strengthening Relationships, and Cultivating a Future of Unshakeable Resilience and True Peace.
The numbers are stark, and they demand our attention. According to the latest analysis from Cancer Research UK, an estimated 1 in 2 people in the UK will be diagnosed with cancer in their lifetime. This isn't a forecast for a distant future; it is the unfolding reality for us, our friends, our families, and our colleagues.
For generations, we have viewed growth—personal, professional, and financial—as a linear path, an upward climb marked by milestones and achievements. But in 2025, true growth is no longer just about the climb. It is about building the resilience to withstand the inevitable storms. It's about having the strength not just to survive a health crisis, but to continue to thrive through it and beyond.
This is not a message of fear, but a call to empowerment. A proactive strategy for your health and financial well-being is the most powerful tool you have to transform uncertainty into unshakeable confidence. It is the bedrock upon which you can build a life of purpose, secure your relationships, and achieve a profound sense of peace, knowing you have prepared for life’s most challenging moments.
This comprehensive guide is your blueprint. We will explore the three essential pillars of modern financial resilience:
- Unshakeable Income Security: How to ensure your income continues, even when you can’t work.
- Robust Life & Critical Illness Cover: How to protect your family, your home, and your legacy.
- Priority Health Access: How to get the best medical care, faster.
By understanding and implementing these strategies, you are not just buying insurance; you are investing in your future, your family's security, and your own peace of mind. You are building your resilience edge.
The Unspoken Financial Impact of a Health Crisis
When a serious illness like cancer, a heart attack, or a stroke strikes, the immediate focus is rightly on health and recovery. But beneath the surface of medical appointments and emotional turmoil, a financial storm can be gathering. The financial toxicity of a health crisis is a real and debilitating side effect that is too often overlooked until it's too late.
Consider the facts. Research from Macmillan Cancer Support highlights that four in five people with cancer are, on average, £891 a month worse off as a result of their diagnosis. This isn't just a single cost; it's a cascade of financial pressures:
- Loss of Income: Being unable to work is the single biggest financial blow. For the self-employed, income can stop overnight. For employees, company sick pay eventually runs out.
- Increased Household Bills: Spending more time at home during recovery often leads to higher heating, electricity, and water bills.
- Travel Costs: Frequent trips to hospitals for treatment, consultations, and scans can add up significantly, especially if specialist centres are far from home.
- Home Modifications: Adjustments may be needed to make your home more accessible, such as installing a stairlift or creating a downstairs bathroom.
- Additional Care: You might need to pay for extra childcare or help with cleaning and daily chores.
The Stark Reality of Statutory Sick Pay (SSP)
For those in employment, the state provides a safety net in the form of Statutory Sick Pay (SSP). However, this "net" has significant holes. As of 2025, SSP provides a payment of just £116.75 per week and is only payable for a maximum of 28 weeks.
To put that into perspective, let's compare it to average UK household expenditure.
| Expense Category | Average Weekly Cost (UK Household) | Statutory Sick Pay (SSP) | Shortfall |
|---|---|---|---|
| Housing, Fuel & Power | £195 | £116.75 | -£78.25 |
| Food & Drink | £85 | £116.75 | +£31.75 |
| Transport | £70 | £116.75 | +£46.75 |
| Total of Just 3 Categories | £350 | £116.75 | -£233.25 |
Source: ONS data on average household expenditure, adjusted for inflation. SSP figure based on latest government rates.
As the table clearly shows, SSP alone is not enough to cover even the most basic living costs for an average family. It creates an immediate and significant financial deficit at the worst possible time. This is the gap that personal protection insurance is designed to fill.
The First Pillar: Unshakeable Income Security
Your ability to earn an income is your most valuable asset. It pays for your home, your bills, your food, and your future. Protecting it is the cornerstone of any robust financial plan. This is where Income Protection insurance comes in.
Income Protection (IP) is designed to do one thing brilliantly: pay you 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 are well enough to return to work, retire, or the policy term ends, whichever comes first. It is your personal financial safety net, ready to catch you if you fall.
Income Protection for Everyone
IP is not a one-size-fits-all product. It can and should be tailored to your specific circumstances.
- For the Employed: Many employers offer a period of full or half pay if you're off sick, but this is rarely indefinite. An IP policy can be set up with a "deferred period" to match your company's sick pay scheme. For example, if you get six months of full pay, your IP policy can be set to start paying out after six months, making it significantly more affordable.
- For the Self-Employed & Freelancers: For the UK's 4.2 million self-employed individuals, there is no employer sick pay. Income stops when work stops. IP is not just a 'nice-to-have'; it is an essential part of your business continuity plan. It provides the stability to keep your personal finances afloat while you focus on recovery, without the pressure of having to rush back to work before you are ready.
- For Company Directors: A highly tax-efficient option exists called Executive Income Protection. This policy is owned and paid for by your limited company and is treated as an allowable business expense. The premiums are not typically treated as a P11D benefit-in-kind, and the benefit is paid to the company, which then distributes it to the director via PAYE. It’s a powerful way to protect your key people while being tax-savvy.
Tailored Solutions for Hands-On Professions: Personal Sick Pay
For those in physically demanding or higher-risk jobs—such as electricians, plumbers, scaffolders, nurses, and dental hygienists—the risk of being unable to work due to injury or illness can be higher. While long-term income protection is the gold standard, a more affordable and accessible alternative is often referred to as Personal Sick Pay.
This is typically a type of income protection policy with a shorter payment period, for example, 1, 2, or 5 years per claim. It provides a crucial financial cushion to see you through recovery from most common conditions without the higher cost of a policy that pays out until retirement.
| Feature | Full Income Protection | Personal Sick Pay (Short-Term IP) |
|---|---|---|
| Payment Period | Until retirement or return to work | Fixed term (e.g., 1, 2, or 5 years) |
| Best For | Comprehensive long-term protection | Covering shorter-term illness/injury |
| Affordability | Higher premium | Lower premium |
| Ideal Candidate | Professionals, office workers, anyone wanting maximum security | Tradespeople, manual workers, those on a tighter budget |
The key is choosing the right level of cover for your needs and budget. At WeCovr, we help you navigate these options, comparing policies from leading UK insurers to find the income protection plan that aligns perfectly with your profession and budget.
The Second Pillar: Life & Critical Illness Cover for Total Peace of Mind
While income protection secures your present, Life and Critical Illness Cover secures your future and the future of those you love. These policies provide a lump sum of capital at a time of immense need, giving you choices and relieving financial pressure when you are at your most vulnerable.
Critical Illness Cover: A Financial Lifeline When You Need It Most
Critical Illness Cover (CIC) pays out a tax-free lump sum if you are diagnosed with one of a list of specified serious conditions. The "big three" covered by almost every policy are cancer, heart attack, and stroke, but modern policies can cover over 50, and in some cases over 100, different conditions.
Imagine receiving a diagnosis of cancer. Alongside the emotional shock, you're faced with decisions about treatment and time off work. A CIC payout could allow you to:
- Clear your mortgage: Removing your single biggest monthly outgoing instantly.
- Pay for private treatment: Accessing specialist care or drugs not yet available on the NHS.
- Adapt your home: Making necessary changes to aid your recovery.
- Replace lost income: Providing a fund for you or your partner to draw from, allowing you both to focus on what matters.
- Fund a recuperation period: Taking time after your treatment to travel and recover fully before returning to work.
The definitions of illnesses and the number of conditions covered can vary significantly between insurers. This is where seeking expert advice is invaluable to ensure the policy you choose provides the comprehensive cover you expect.
Life Insurance: Securing Your Legacy
Life Insurance is one of the most selfless purchases you can make. It's a promise to your family that they will be financially secure, even if you are no longer there. There are several different types, each suited to different needs.
- Level Term Insurance: Pays out a fixed lump sum (e.g., £250,000) if you pass away within a set term (e.g., 25 years). This is ideal for covering an interest-only mortgage or providing a substantial legacy for your children's future education and well-being.
- Decreasing Term Insurance: The potential payout reduces over time, usually in line with a repayment mortgage. As you pay off your mortgage, the amount of cover needed decreases. This makes it a very cost-effective way to ensure your family's home is always protected.
- Family Income Benefit: This is an innovative and often overlooked form of life insurance. Instead of a single large lump sum, it pays out a regular, tax-free income (e.g., £2,500 a month) from the point of claim until the end of the policy term. For a family dealing with grief, managing a regular income can be far less daunting than having to invest and manage a large lump sum.
| Policy Type | How it Works | Best For |
|---|---|---|
| Level Term | Fixed lump sum payout during the term. | Protecting an interest-only mortgage, providing a family legacy. |
| Decreasing Term | Payout decreases over the term. | Covering a repayment mortgage in a cost-effective way. |
| Family Income Benefit | Regular, tax-free monthly income payout. | Replacing lost salary, easier budgeting for a grieving family. |
Advanced Legacy Planning: Gift Inter Vivos Insurance
For those planning to pass on significant wealth to the next generation, Inheritance Tax (IHT) is a key consideration. When you make a large gift (e.g., cash or property) to someone, it is known as a Potentially Exempt Transfer (PET). If you survive for seven years after making the gift, it becomes fully exempt from IHT.
However, if you pass away within those seven years, the gift becomes part of your estate for IHT calculation purposes, and your beneficiaries could face a substantial tax bill.
Gift Inter Vivos (GIV) insurance is a specialised life insurance policy designed to solve this exact problem. It's a whole-of-life or term insurance plan written to cover the potential IHT liability. The amount of cover reduces over the seven years, mirroring the "taper relief" rules for IHT on gifts. It’s a simple, effective way to ensure your gift is received in full, exactly as you intended.
Navigating the nuances between these policies can be complex. That's where we come in. The team at WeCovr provides expert, no-obligation advice to help you build a protection portfolio that truly safeguards your family's future.
The Third Pillar: Priority Access with Private Health Insurance (PMI)
The National Health Service is one of the UK's greatest treasures, providing incredible care to millions. However, the system is under unprecedented pressure, and waiting lists for diagnosis and treatment have reached record levels. In 2025, waiting for a scan, a consultation, or an operation doesn't just cause physical discomfort; it creates immense anxiety and can delay a return to normal life and work.
Private Health Insurance (PMI), also known as Private Medical Insurance, offers a powerful solution. It works alongside the NHS to give you more control, choice, and speed when you need medical care.
The core benefits of PMI include:
- Prompt Diagnosis: Quickly access diagnostic tests and scans like MRI, CT, and PET scans, often within days. Getting a clear diagnosis is the first and most critical step in any treatment journey.
- Fast-Tracked Treatment: Bypass long NHS waiting lists for eligible conditions, from hernia repairs to heart surgery.
- Choice and Control: Choose the specialist consultant and the hospital where you receive your treatment.
- Enhanced Comfort: Recover in a private room with amenities like an en-suite bathroom, TV, and more flexible visiting hours.
- Access to Specialist Drugs: Gain access to breakthrough drugs and cancer therapies that may not yet be approved for widespread use on the NHS due to cost or other factors.
Let's look at a typical patient journey to see the difference PMI can make.
| Stage | NHS Pathway | Private Health Insurance Pathway |
|---|---|---|
| GP Visit | Refer to NHS specialist. | GP provides an open referral. |
| Specialist Consultation | Wait weeks or months. | See a specialist within days. |
| Diagnostic Scans | Further wait for an MRI/CT scan. | Scans often performed within a week. |
| Treatment (e.g., surgery) | Placed on a surgical waiting list. | Surgery scheduled promptly at a private hospital of choice. |
| Recovery | On a general ward. | In a private, en-suite room. |
For a self-employed person, a business owner, or anyone whose income depends on their well-being, the ability to get diagnosed and treated quickly isn't a luxury—it's a financial necessity. PMI is the tool that makes it possible.
For the Business Leaders: Protecting Your Greatest Asset
If you are a company director, business owner, or partner, your responsibilities extend beyond your own family. The health of your business and the livelihoods of your employees depend on your foresight and planning. Specialist business protection insurance is a critical component of a resilient commercial strategy.
Key Person Insurance: The Ultimate Business Continuity Plan
Who in your business is indispensable? Is it the founder with the vision, the sales director with the contacts, or the technical expert with the unique skills? This is your 'key person'. Their sudden death or diagnosis with a critical illness would trigger a direct financial loss for the company.
Key Person Insurance is a policy taken out by the business, on the life of that key individual.
- Who pays? The business pays the premiums.
- Who owns it? The business owns the policy.
- Who gets the payout? The business receives the tax-free lump sum.
This capital injection can be used to manage the disruption:
- Recruit and train a suitable replacement.
- Cover lost profits during the transition period.
- Reassure lenders and suppliers that the business is stable.
- Repay outstanding business loans.
It transforms a potential catastrophe into a manageable challenge.
Shareholder & Partnership Protection: Securing the Future of Your Business
Consider what happens if a co-owner in your business passes away. Their shares, representing their portion of the company, automatically pass to their beneficiaries via their will. Suddenly, you could find yourself in business with their spouse or child, who may have no interest in the company or, worse, wish to sell their stake to a competitor.
Shareholder or Partnership Protection is the elegant solution. It involves two components:
- A Legal Agreement: A 'cross-option agreement' is drawn up, giving the surviving owners the right to buy the deceased's shares, and giving the deceased's estate the right to sell them.
- The Insurance Policies: Each shareholder or partner takes out a life (and often critical illness) insurance policy on the other owners, with the policy written into a business trust.
If a shareholder dies, the insurance policy pays out to the trust. The trustees then provide the funds to the surviving shareholders, who use the money to purchase the shares from the deceased's estate at a pre-agreed valuation. The business ownership is consolidated, the deceased's family receives fair value for their asset in cash, and the company continues seamlessly.
Cultivating Resilience: Beyond Insurance – A Holistic Approach to Well-being
While a robust insurance portfolio is your financial shield, true resilience is also built from the inside out. Proactive steps to manage your health can significantly improve your quality of life and potentially lower your risk of developing serious conditions in the first place.
- Nourish Your Body: A balanced diet rich in fruit, vegetables, and whole grains is fundamental. The NHS 'Eatwell Guide' provides a clear framework. Limiting processed meats, red meat, and high-sugar foods can have a positive long-term impact on your health.
- Embrace Movement: The UK Chief Medical Officers recommend at least 150 minutes of moderate-intensity activity (like a brisk walk or cycling) or 75 minutes of vigorous-intensity activity (like running or tennis) each week, plus strengthening activities on two days. Exercise is a powerful tool for both physical and mental health.
- Prioritise Sleep: Consistent, quality sleep (7-9 hours for most adults) is essential for immune function, cognitive performance, and emotional regulation. Create a restful environment and a relaxing bedtime routine.
- Manage Your Mind: Chronic stress can negatively impact your health. Incorporate mindfulness, meditation, or simple breathing exercises into your day. Don't be afraid to seek support from a therapist or counsellor if you're struggling.
At WeCovr, we believe in a proactive approach to health. That’s why, in addition to finding you the best protection policies, we provide our clients with complimentary access to our AI-powered calorie and nutrition tracker, CalorieHero. It's a small way we can support your journey to better health, every single day, empowering you to make informed choices about your diet and well-being.
Building Your Resilience Blueprint: A Step-by-Step Guide
Feeling overwhelmed? That's understandable. The key is to break it down into manageable steps. Here is your action plan for building a robust financial protection strategy.
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Step 1: Conduct a Financial Health Check.
- Calculate your total monthly household outgoings.
- List your assets (savings, investments) and liabilities (mortgage, loans, credit cards).
- If employed, find out exactly what your company sick pay policy is (how much and for how long).
- If self-employed, calculate your average monthly pre-tax profit.
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Step 2: Define Your "Why".
- What are you most concerned about protecting? Your income? Your home? Your family's lifestyle? Your children's future?
- Prioritise these concerns. This will help you decide where to allocate your budget first. Income protection is often the foundation, as it protects everything else.
-
Step 3: Understand the Pillars of Protection.
- Review the core products: Income Protection (for your income), Critical Illness Cover (for a lump sum on diagnosis), Life Insurance (for your legacy), and Private Health Insurance (for faster medical access).
- Consider which ones align with the priorities you identified in Step 2.
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Step 4: Seek Independent, Expert Guidance.
- This is the most crucial step. An independent broker does not work for an insurance company; they work for you.
- They can compare policies from across the entire UK market to find the best cover and value.
- They will help you with the application forms, explain the medical questions, and ensure the policy is correctly set up (e.g., placing it in trust to avoid probate and potential inheritance tax).
-
Step 5: Review and Adapt.
- Your protection needs are not static. Review your cover every few years or after any major life event:
- Getting married
- Having a child
- Moving to a larger home with a bigger mortgage
- Getting a promotion or starting a business
- Getting divorced
- Your protection needs are not static. Review your cover every few years or after any major life event:
From Uncertainty to Unshakeable Confidence
The 1-in-2 statistic is not a prediction of your personal destiny. It is a powerful reminder that life is unpredictable. But while we cannot control every health outcome, we can absolutely control how we prepare for it.
Building a comprehensive financial protection plan is one of the most profound acts of responsibility and love you can undertake—for yourself, for your business, and for your family. It is the act of transforming "what if?" into "what's next?". It replaces anxiety with action, and fear with fortitude.
This is the resilience edge. It is the freedom to pursue your ambitions, to deepen your relationships, and to live your life with purpose, knowing that you have built a foundation strong enough to weather any storm. It is the ultimate peace of mind.
Your Questions Answered
Why should I use a broker like WeCovr instead of going direct to an insurer?
Going direct to an insurer only gives you one option—their own. An independent broker like WeCovr works for you, not the insurance company. We compare policies and prices from all the UK's leading insurers to find the best fit for your unique needs and budget. We also provide expert guidance on complex areas like policy definitions and writing policies into trust, ensuring your cover is set up correctly from the start. This service comes at no extra cost to you.
I have a pre-existing medical condition. Can I still get cover?
Yes, in many cases you can. It's essential to be completely honest about your medical history during the application. Depending on the condition, its severity, and when you last had symptoms or treatment, the insurer might offer cover on standard terms, apply an exclusion for that specific condition, or increase the premium. An experienced adviser can help navigate this and approach specialist insurers who may be more favourable to certain conditions.
How much cover do I actually need?
This is a personal calculation based on your circumstances. For Income Protection, you can typically cover 50-60% of your gross income. For Life and Critical Illness Cover, a good starting point is to aim to cover your mortgage, any other debts, and provide a fund for your family's living expenses for a number of years. A common rule of thumb is 10 times your annual salary, but a detailed assessment with an adviser will give you a more accurate figure.
Is this type of insurance expensive?
The cost (premium) depends on several factors: your age, your health and lifestyle (e.g., whether you smoke), your occupation, the type of cover, the amount of cover, and the policy term. Younger, healthier individuals will find cover very affordable. For example, a healthy 30-year-old could secure significant life cover for the price of a few cups of coffee a week. A broker can help tailor a plan to fit your budget.
Do I need a medical exam to get protection insurance?
Not always. For many people, especially if you are young and healthy, cover can be put in place based solely on the answers you provide on the application form. For larger amounts of cover, or if you disclose certain medical conditions, the insurer may request more information from your GP or ask you to attend a short medical screening, which they will pay for.
Related guides
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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Who Are WeCovr?
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!