Life Insurance UK The 2025 Buyer’s Guide
Life insurance. It’s a topic many of us prefer to put off, filed away under ‘important, but not for today’. Yet, in the space of a single moment, it can become the most critical financial decision you ever made. For your loved ones, a life insurance policy isn't just a document; it's a lifeline. It’s the security that keeps the family home, the funds that support your children's future, and the breathing room to grieve without the immediate pressure of financial collapse.
Navigating the world of life insurance in the UK can feel like trying to read a map in a foreign language. With a dizzying array of policy types, providers, and jargon, it's easy to feel overwhelmed. But it doesn’t have to be this way.
This comprehensive 2025 guide is designed to be your definitive resource. We will demystify the products, break down the costs, clarify the exclusions, and introduce you to the key providers in the UK market. Whether you're a first-time buyer, a business owner, or simply reviewing your existing cover, this article will equip you with the knowledge to make an informed and confident choice for your family's future.
What to know about types of cover, costs, exclusions and providers before you buy
Before diving into the specifics, let's establish the four pillars of a smart life insurance decision. Understanding these will form the foundation of your search and ensure you find a policy that truly fits your needs.
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Types of Cover: Not all life insurance is the same. The right type for you depends entirely on your circumstances. Are you looking to cover a mortgage that's reducing over time, or provide a fixed lump sum for your family no matter when you pass away? Do you need an income stream rather than a single payout? We'll explore Term, Whole of Life, and other crucial protection policies.
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Costs (Premiums): Your monthly premium is determined by a range of factors, including your age, health, lifestyle, and the amount of cover you need. The good news is that for most healthy individuals, comprehensive cover is far more affordable than you might think. We'll break down what influences the price and how to get the most value.
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Exclusions and the Small Print: An insurance policy is a contract. Knowing what is not covered is just as important as knowing what is. We’ll shine a light on common exclusions, the critical importance of full disclosure on your application, and why reading the terms and conditions is non-negotiable.
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Providers: The UK market is home to a host of reputable and financially strong insurers. While many offer similar core products, they differ in their additional benefits, claims service, and underwriting approach. Using an expert broker, like us at WeCovr, allows you to compare the entire market in one place to find the provider that best aligns with your profile and needs.
Demystifying Life Insurance: The Core Concepts Explained
At its heart, life insurance is a simple concept. It's a contract between you (the policyholder) and an insurance company. You agree to pay a regular fee, known as a premium, and in return, the insurer promises to pay out a tax-free lump sum, called the sum assured, to your chosen beneficiaries if you pass away during the policy's term.
But why is it so important? Consider these common financial responsibilities:
- Mortgage Repayment: The average outstanding mortgage debt for a UK household is substantial. A life insurance payout can clear this debt, ensuring your family keeps their home.
- Dependant Support: If you have children or a partner who relies on your income, a policy can replace those lost earnings for years, covering everything from household bills to university fees.
- Funeral Expenses: The cost of dying continues to rise. The SunLife Cost of Dying Report 2024 found the average cost of a basic funeral is now £4,141. A life insurance payout can cover these costs without placing a burden on your family.
- Inheritance Tax (IHT): For larger estates, a Whole of Life policy can be used to provide the funds needed to pay a potential IHT bill, preserving the value of the assets you pass on.
Key Terminology at a Glance
| Term | Simple Explanation |
|---|---|
| Premium | The monthly or annual fee you pay for your insurance policy. |
| Sum Assured | The amount of money the policy will pay out. Also known as the 'cover amount'. |
| Term | The length of time your policy is active. You are only covered if you die within this period. |
| Policyholder | The person who owns the insurance policy (usually the person whose life is insured). |
| Beneficiary | The person(s) or entity (like a trust) who will receive the payout. |
Let's look at a simple example:
Sarah, aged 35, is a non-smoker in good health. She has a £250,000 repayment mortgage with 25 years remaining and a young child. She takes out a decreasing term life insurance policy with a sum assured of £250,000 over a 25-year term. She pays a premium of around £12 per month. If Sarah were to pass away at any point in the next 25 years, the policy would pay out a lump sum sufficient to clear the outstanding mortgage, securing the family home for her partner and child.
The Main Types of UK Life Insurance Policies in 2025
Choosing the right policy type is the most important step. Your choice will depend on what you want the money to be used for.
1. Term Life Insurance
This is the most common and affordable type of life insurance. It covers you for a fixed period (the 'term'). If you die within that term, the policy pays out. If you survive the term, the policy ends, and you get nothing back.
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Level Term Insurance: The sum assured remains the same throughout the policy term. If you have £300,000 of cover on day one, you still have £300,000 of cover in the final year.
- Best for: Covering an interest-only mortgage, providing a lump sum for family living costs, or leaving a financial gift.
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Decreasing Term Insurance (Mortgage Protection): The sum assured gradually reduces over the term, broadly in line with a repayment mortgage. As you pay off your mortgage, the amount of cover you need decreases.
- Best for: Covering a repayment mortgage. It's the most cost-effective way to protect your home.
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Increasing Term Insurance: The sum assured increases each year by a set amount (e.g., in line with the Retail Prices Index - RPI) to protect its real-terms value against inflation. Your premiums will also likely increase.
- Best for: Protecting a growing family's future lifestyle and covering rising living costs or potential school fees.
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Family Income Benefit: This is a variation of term insurance. Instead of a single lump sum, it pays out a regular, tax-free income to your family for the remainder of the policy term.
- Best for: Replacing a lost salary to cover ongoing monthly expenses. It can be easier for beneficiaries to manage than a large lump sum.
2. Whole of Life Insurance
As the name suggests, this policy covers you for your entire life. As long as you keep paying the premiums, a payout is guaranteed when you die. This makes it more expensive than term insurance.
- Guaranteed Premiums: You pay a fixed amount for the entire duration of the policy. This provides certainty but starts at a higher cost.
- Reviewable Premiums: Premiums start lower but are reviewed by the insurer every 5 or 10 years. They will likely increase over time based on factors like age.
- Best for: Covering a guaranteed future cost, such as a funeral or an Inheritance Tax liability.
3. Over 50s Life Insurance
This is a type of whole of life plan aimed at UK residents aged 50-85. Acceptance is guaranteed with no medical questions asked.
- Key Features: Premiums are fixed, but the sum assured is generally smaller (typically up to £20,000). There is usually a 'waiting period' of 12 or 24 months. If you die from natural causes during this period, the insurer will not pay the full sum assured but will refund the premiums paid.
- Best for: Those with pre-existing health conditions who might struggle to get other types of cover, or for individuals looking to cover their funeral costs.
Joint Life vs. Single Life Policies
When taking out cover with a partner, you can choose between two single policies or one joint policy.
| Feature | Single Life Policies | Joint Life Policy |
|---|---|---|
| Structure | Two separate policies, one for each person. | One policy covering two people. |
| Payout | Each policy pays out independently on the death of the person covered. Can provide two payouts. | Pays out once, on the first death. The policy then ends, leaving the survivor without cover. |
| Cost | Usually more expensive than a single joint policy. | Typically cheaper than two single policies (by around 25%). |
| Recommendation | Often the better option. If one partner dies, the other's policy continues, which is crucial if they still have dependents. | Can be suitable for couples whose primary need is to clear a joint mortgage on the first death. |
Beyond Life Insurance: Essential Protection You Shouldn't Overlook
Thinking about what happens when you die is vital, but what about protecting yourself against life-changing events while you're alive? The "big three" protection policies are Life Insurance, Critical Illness Cover, and Income Protection. They work together to create a robust financial safety net.
Critical Illness Cover (CIC)
Critical Illness Cover pays out a tax-free lump sum if you are diagnosed with one of a specific list of serious medical conditions defined in the policy. It's designed to provide a financial cushion to help you cope with the significant costs and lifestyle changes a major illness can bring.
- What does it cover? Core conditions almost always include specific definitions of cancer, heart attack, and stroke. Most comprehensive policies cover 40-50 conditions, with some covering over 100, including multiple sclerosis, major organ transplant, and Parkinson's disease.
- Why is it important? According to Cancer Research UK, someone in the UK is diagnosed with cancer every two minutes. Survival rates are improving, but recovery can be long and costly. A CIC payout could allow you to clear debts, adapt your home, pay for private treatment, or simply take time off work to recover without financial stress.
- Key Consideration: The policy definitions are crucial. A "heart attack" or "cancer" diagnosis must meet the specific wording in your policy document to trigger a payout. This is where an expert broker's guidance is invaluable.
Income Protection Insurance (IP)
Often described by experts as the most important protection policy of all, Income Protection is designed to do one thing: replace a portion of your lost earnings if you are unable to work due to any illness or injury.
- How does it work? It pays a regular monthly income until you can return to work, reach retirement age, or the policy term ends—whichever comes first.
- CIC vs. IP: A critical illness policy pays a lump sum for a specific condition. An income protection policy pays a monthly income for almost any medical reason that stops you from working (e.g., a bad back, stress, depression, as well as more serious illnesses).
- Deferment Period: This is the waiting period from when you stop working until the policy starts paying out. It can be set from 1 to 12 months. The longer the deferment period you choose (e.g., to match your employer's sick pay), the lower your premium will be.
Personal Sick Pay
This is a term often used for a type of short-term income protection policy. It's particularly relevant for those in riskier jobs or the self-employed who have no employer sick pay to fall back on.
- Features: These policies have shorter deferment periods (as little as one week) and a limited payment period (typically 1, 2, or 5 years per claim). They are a more affordable way to secure an income safety net, ideal for tradespeople like electricians, plumbers, and construction workers, as well as nurses and other hands-on professionals.
Gift Inter Vivos Insurance
This is a specialist type of term insurance designed for Inheritance Tax (IHT) planning. If you make a large financial gift (a 'Potentially Exempt Transfer'), you must survive for seven years for that gift to be completely free of IHT. If you die within that seven-year window, the gift becomes part of your estate and could be subject to a tax of up to 40%. A Gift Inter Vivos policy pays out a lump sum to cover this potential tax bill.
Specialist Cover for Business Owners, Directors, and the Self-Employed
If you run your own business or are self-employed, your financial protection needs are unique. The standard safety nets of death-in-service benefits and company sick pay don't exist, making personal and business protection absolutely essential.
For Company Directors & Business Owners
- Key Person Insurance: Imagine your business losing its top salesperson, its technical genius, or you, the founder. Key Person Insurance protects the business against the financial fallout. The policy is owned and paid for by the business and pays out a lump sum to cover lost profits, recruit a replacement, or clear business debts.
- Relevant Life Insurance: This is a highly tax-efficient way for a limited company to provide death-in-service benefits for its employees and directors. The premiums are typically an allowable business expense, and the benefits are not treated as a P11D benefit-in-kind. For a higher-rate taxpayer, this can be almost 50% cheaper than a personal policy.
- Executive Income Protection: Similar to Relevant Life Cover, this allows a company to pay the premiums for a director's income protection policy. It's a tax-efficient way to secure an income for a key decision-maker if they are unable to work.
- Shareholder or Partnership Protection: If a business owner or partner dies, what happens to their share of the business? Often, their family inherits it. Do the remaining owners have the funds to buy the shares back? Shareholder Protection provides a lump sum to the surviving owners, allowing them to purchase the deceased's shares and maintain control of the business, while providing fair value to the deceased's family.
For the Self-Employed & Freelancers
For the UK's millions of self-employed workers, there is no safety net. If you can't work, your income stops. This makes Income Protection Insurance a non-negotiable part of your financial toolkit. It is the only way to guarantee an income if illness or injury strikes. Combining it with Critical Illness Cover and a personal Life Insurance policy creates a comprehensive shield for both you and your family.
Calculating Your Cover: How Much Life Insurance Do You Really Need?
There's no magic number; the right amount of cover is unique to you. A simple way to estimate your needs is to use the D.E.B.T.S. framework, which ensures you account for all major financial obligations.
- Debts: Total up all your outstanding debts. This includes your mortgage, car loans, personal loans, and credit card balances.
- Everyday Expenses: How much income would your family need to maintain their current lifestyle? Multiply your monthly household outgoings by 12 to get an annual figure, then multiply that by the number of years you want to provide support for (e.g., until your youngest child is 21).
- Bereavement: Factor in the cost of a funeral, which can easily be £4,000 - £5,000.
- Tuition & Childcare: If you have children, consider the future costs of their education, from childcare and school uniforms to university fees.
- Spouse/Partner Provision: Do you want to leave a fund that your surviving partner can use for their own retirement or future needs?
Example Calculation:
| Need | Amount |
|---|---|
| Debts (Mortgage) | £200,000 |
| Everyday Expenses (£3k/month for 15 years) | £540,000 |
| Bereavement (Funeral) | £5,000 |
| Tuition (2 children, £30k each) | £60,000 |
| Total Cover Needed | £805,000 |
This figure can seem daunting, but this is where a broker like WeCovr can provide invaluable assistance. We can help you explore different scenarios, perhaps using a mix of a decreasing term policy for the mortgage and a level term or family income benefit policy for living costs, to create an affordable and effective protection portfolio.
What Factors Influence Your Life Insurance Premiums?
Insurers are in the business of assessing risk. The higher your personal risk profile, the higher your premium will be. Here are the key factors they look at:
| Factor | Impact on Premium | Why? |
|---|---|---|
| Age | Lower for younger applicants | Younger people are statistically less likely to claim. |
| Health | Lower for good health | Pre-existing conditions (e.g., diabetes, high BP) increase risk. |
| Smoking/Vaping | Significantly higher | Smokers' premiums can be double that of non-smokers. |
| Alcohol Intake | Higher for heavy consumption | Excessive alcohol use is linked to numerous health problems. |
| Occupation | Higher for risky jobs | An office worker pays less than a scaffolder or deep-sea diver. |
| Hobbies | Higher for dangerous pastimes | Motorsport, mountaineering, or scuba diving increase risk. |
| Cover Amount | Higher for larger sums | A £500k policy costs more than a £100k policy. |
| Policy Term | Higher for longer terms | A 30-year term is riskier for the insurer than a 10-year term. |
Understanding the Small Print: Common Exclusions and Clauses
A staggering 97% of all life and protection insurance claims were paid out in 2022, according to the Association of British Insurers (ABI). The overwhelming reason for the few that are declined is non-disclosure.
Honesty is the only policy. When you apply for insurance, you must be completely truthful about your medical history, lifestyle, occupation, and hobbies. Hiding a condition or the fact you smoke might get you a cheaper premium initially, but it could invalidate your policy, meaning your family gets nothing when they need it most.
Other common exclusions include:
- Suicide Clause: Most policies will not pay out if the policyholder dies by suicide within the first 12 or 24 months of the policy.
- Dangerous Activities: If you didn't declare a risky hobby and die while participating in it, the claim may be denied.
- Drug or Alcohol Misuse: A death directly attributable to substance abuse may be excluded.
For Critical Illness Cover, it's vital to read the definitions. A claim for a stroke, for example, will only be paid if the event results in 'permanent neurological deficit', as defined in the policy wording.
The UK's Leading Life Insurance Providers in 2025
The UK has a mature and competitive insurance market with many excellent providers. While we work with all major insurers to find you the best deal, here are some of the key players you will encounter:
- AIG: A global insurer with a strong presence in the UK protection market.
- Aviva: One of the UK's largest and most well-known insurance companies.
- Guardian: A newer entrant focused on policy clarity, comprehensive cover, and a strong claims promise.
- Legal & General: A dominant force in the UK life insurance market, often praised for competitive pricing.
- LV= (Liverpool Victoria): A mutual society known for its strong customer service and income protection products.
- Royal London: The UK's largest mutual life, pensions, and investment company, with a reputation for quality cover.
- Scottish Widows: A long-established brand, now part of Lloyds Banking Group, offering a wide range of products.
- Vitality: Unique in its approach, Vitality links insurance to a wellness programme, rewarding healthy living with lower premiums and other benefits.
- Zurich: A major global insurer offering a comprehensive suite of protection products in the UK.
Choosing between them isn't just about price. Some are better for certain health conditions, some have more comprehensive critical illness definitions, and some offer better value-added benefits. This is why comparing the market through an independent broker like WeCovr is so effective. We know the nuances of each provider and can match you with the one that's the right fit for you.
The Application Process: A Step-by-Step Guide
Securing life insurance is more straightforward than you might think. Here’s a typical journey:
- Get Quotes & Advice: The first step is to understand your needs and get an idea of the cost. Using a broker allows you to compare quotes from across the market in minutes.
- Complete the Application: You'll complete a detailed application form. This will cover your personal details, health history, family medical history, lifestyle (smoking, drinking), and occupation. Be prepared and be honest.
- Underwriting: This is the insurer's risk assessment process. For most healthy applicants under 45 seeking moderate cover, this is often an instant or automated decision. For larger sums, older applicants, or those with medical conditions, the insurer might:
- Write to your GP for a medical report (a GPR).
- Arrange a mini-screening with a nurse.
- Request a full medical examination (rare).
- Receive Your Terms: The insurer will come back with a final decision. This will either be the price you were quoted ('standard rates'), a higher premium ('a loading'), or an offer with a specific condition excluded.
- Policy Goes 'On Risk': Once you accept the terms and set up your direct debit, your cover starts from the agreed date. You are now protected.
To show our commitment to our customers' long-term wellbeing, after your policy is in place, WeCovr provides complimentary access to our proprietary AI-powered calorie tracking app, CalorieHero. It’s a small way we can support you in leading a healthier life, something that benefits everyone.
Proactive Steps to a Healthier Life (and Lower Premiums)
Taking control of your health not only improves your quality of life but can also have a direct, positive impact on your insurance premiums.
- Quit Smoking & Vaping: This is the single biggest change you can make. Insurers typically classify you as a non-smoker if you have been nicotine-free (including patches and gum) for at least 12 months. The savings can be enormous.
- Maintain a Healthy Weight: A balanced diet and regular exercise can help keep your BMI, blood pressure, and cholesterol in a healthy range, all of which are assessed by insurers. The NHS Eatwell Guide is an excellent resource for healthy eating.
- Be Mindful of Alcohol: Sticking within the recommended weekly alcohol units (14 units per week for men and women) is good for your health and your insurance application.
- Stay Active: The NHS recommends at least 150 minutes of moderate-intensity activity a week. This could be a brisk walk, a cycle ride, or swimming.
- Prioritise Sleep: Good quality sleep is foundational to physical and mental health, helping to regulate everything from your immune system to your mood.
Conclusion: Securing Your Family's Future is a Priceless Investment
Life insurance is one of the most selfless and important purchases you will ever make. It is a fundamental act of love and responsibility, providing a shield for your family against the financial devastation that a sudden loss can cause.
By understanding the different types of cover, from simple mortgage protection to comprehensive income replacement, you can tailor a solution that fits your budget and provides peace of mind. Remember that cost is influenced by your health and lifestyle, and complete honesty during your application is the only way to guarantee the policy will be there when it's needed.
The world of insurance can be complex, but you don't have to navigate it alone. Don't let uncertainty lead to inaction. Taking the first step to explore your options is simple and costs nothing. Protecting the future of those you love is a legacy that is truly priceless.
Frequently Asked Questions (FAQs)
Is a life insurance payout tax-free in the UK?
Can I get life insurance with a pre-existing medical condition?
Do I need a medical exam for life insurance?
What happens if I stop paying my life insurance premiums?
How do my beneficiaries make a claim on my life insurance?
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!