The Silent Architects of Success
The conventional wisdom of personal growth often focuses on mindset shifts and productivity hacks, yet it overlooks the single most profound barrier to true flourishing: the silent, gnawing anxiety of financial insecurity. In an era where health uncertainties loom larger than ever – with projections for 2025 indicating that an estimated 1 in 2 individuals in the UK will be diagnosed with cancer during their lifetime, and the specter of long-term illness or disability affecting millions more – ignoring the financial safety net is akin to building a dream home on quicksand. This groundbreaking discussion reveals how strategically implemented financial protection products are not just insurance policies; they are the bedrock of genuine personal development and resilient relationships. We explore how Family Income Benefit can preserve your loved ones’ lifestyle, how Income Protection ensures your earning power even if illness strikes, and why tailored Personal Sick Pay is vital for dynamic careers like tradespeople, nurses, and electricians. Learn how Life and Critical Illness Cover provide crucial lump sums when you need them most, how broader Life Protection safeguards legacies, and the unique benefits of Gift Inter Vivos for strategic financial gifting. Moreover, understand how private health insurance complements these protections by providing rapid access to specialist care and treatment, freeing you from public health system queues and empowering you to reclaim your health and future faster. This isn’t just about money; it’s about liberating your mental energy, fostering deeper connections, and creating an unshakeable foundation for the life you truly aspire to live – a blueprint for thriving in uncertainty.
You can have the most ambitious goals, the most refined morning routine, and a library of self-help books, but if a persistent worry about money hums in the background, your progress will always be stifled. This isn't a personal failing; it's a fundamental human response. Our brains are wired for survival, and financial instability is a modern-day predator, constantly triggering our fight-or-flight response.
This low-grade, chronic stress, often referred to as 'financial anxiety,' erodes our cognitive resources. It makes it harder to focus, to think creatively, and to make sound long-term decisions. It can strain our relationships, making us irritable and withdrawn. How can you be fully present with your family or invest energy in a new business venture when a part of your mind is perpetually calculating the fallout of an unexpected illness or job loss?
The statistics paint a stark picture. According to the Money and Pensions Service, millions of UK adults feel overwhelmed by their finances. This isn't just about debt; it's about the precariousness of their situation. A 2024 report from the Financial Conduct Authority (FCA) highlighted that a significant portion of the population has low financial resilience, meaning they would struggle to cope with an unexpected financial shock.
This is where the paradigm shifts. Financial protection isn't about planning for the worst-case scenario in a pessimistic way. It's about building a fortress of security that liberates you to pursue the best-case scenario with confidence. It is the ultimate act of self-care and a profound investment in your personal development journey.
Income Protection: Your Financial Underpinning in Sickness and Health
For most of us, our ability to earn an income is our single greatest asset. It funds our homes, our families' needs, our pensions, and our dreams. Yet, it is often the most unprotected asset. What would happen if a serious illness or injury prevented you from working for six months, a year, or even longer?
Statutory Sick Pay (SSP) in the UK offers a minimal safety net. As of 2025, it amounts to just over £116 per week, paid for a maximum of 28 weeks. For the vast majority of households, this is nowhere near enough to cover mortgage payments, bills, and daily living costs.
This is the critical gap that Income Protection (IP) insurance is designed to fill.
What is Income Protection?
Income Protection is a long-term insurance policy that provides a regular, tax-free replacement income if you are unable to work due to any illness or injury. It continues to pay out until you can return to work, reach retirement age, or the policy term ends, whichever comes first.
Think of it as your own personal sick pay scheme, one that you control.
Key features to understand:
- The Deferment Period: This is the waiting period between when you first stop working and when the policy starts paying out. It can range from 4 weeks to 52 weeks. The longer the deferment period you choose, the lower your monthly premiums will be. You can align this with any sick pay you receive from your employer.
- Level of Cover: You can typically insure up to 50-70% of your gross annual income. The income is paid tax-free, so this often equates to a similar take-home pay.
- Definition of Incapacity: This is crucial. The best policies use an 'Own Occupation' definition, meaning the policy will pay out if you are unable to perform your specific job. Other, less comprehensive definitions like 'Suited Occupation' or 'Any Occupation' make it harder to claim. An expert adviser at WeCovr can help you navigate these definitions to ensure you have the most robust cover.
Example in Practice:
Meet Chloe, a 40-year-old architect earning £60,000 a year. She develops a debilitating back condition that requires surgery and a long recovery, preventing her from working for 18 months. Her employer's sick pay runs out after three months. Thankfully, Chloe has an Income Protection policy with a 13-week deferment period. Once her sick pay ends, her IP policy kicks in, paying her £3,000 per month (£36,000 a year, tax-free) until she is well enough to return to her desk. Her mortgage is paid, bills are covered, and she can focus entirely on her recovery without the crippling stress of financial ruin.
Personal Sick Pay: Essential Cover for the UK's Dynamic Workforce
While traditional Income Protection is an excellent solution for many, the modern UK economy is powered by a diverse army of self-employed individuals, freelancers, contractors, and those in physically demanding roles. For these workers, a standard IP policy with a long deferment period might not be suitable.
Personal Sick Pay (also known as Accident & Sickness Insurance) is a form of short-term income protection designed for this exact need. It offers a more immediate financial lifeline.
This cover is particularly vital for:
- Tradespeople: Electricians, plumbers, builders, and carpenters whose income stops the moment they can't physically work.
- Self-Employed Professionals: Consultants, designers, and writers who have no access to employer sick pay.
- Healthcare Workers: Nurses, carers, and physiotherapists who are often on their feet all day and have a higher risk of injury or burnout.
- Gig Economy Workers: Delivery drivers and other flexible workers with fluctuating incomes and no safety net.
How Personal Sick Pay Works
The key difference lies in the immediacy and duration of the payout.
- Shorter Deferment Periods: You can often choose a 'Day 1' or 'Day 8' deferment period, meaning the policy starts paying out much faster.
- Shorter Payout Periods: Unlike long-term IP, these policies typically pay out for a maximum of 12 or 24 months per claim. This makes them more affordable and tailored for covering recovery from common illnesses and injuries.
| Feature | Statutory Sick Pay (SSP) | Typical Employer Sick Pay | Personal Sick Pay |
|---|---|---|---|
| Eligibility | Employees earning over a threshold | Most employees (discretionary) | Anyone who buys a policy |
| Weekly Amount | ~£116 (in 2025) | Varies (e.g., 3-6 months full pay) | Chosen by you (e.g., £500/week) |
| Payout Starts | After 4 consecutive days off | From Day 1 | Chosen by you (e.g., Day 1, Day 8) |
| Max Payout Duration | 28 weeks | Varies (often tiered) | Typically 12 or 24 months |
For the self-employed, Personal Sick Pay isn't a luxury; it's a fundamental business continuity tool. It ensures that a broken leg or a bout of pneumonia doesn't turn into a financial catastrophe.
Life and Critical Illness Cover: A Financial Shield in Your Darkest Hour
While income protection safeguards your monthly cash flow, lump sum policies provide a powerful financial injection to deal with life's most severe shocks: a critical illness diagnosis or the death of a loved one.
The statistics are sobering. Projections from Cancer Research UK suggest that 1 in 2 people in the UK born after 1960 will be diagnosed with some form of cancer during their lifetime. Meanwhile, the British Heart Foundation reports hundreds of thousands of hospital admissions for heart attacks each year.
A serious illness brings not only physical and emotional turmoil but also significant, often unexpected, financial costs. This is where Critical Illness Cover (CIC) becomes invaluable.
Critical Illness Cover: Freedom to Focus on Recovery
CIC pays out a one-off, tax-free lump sum if you are diagnosed with one of a list of specified serious medical conditions defined in the policy. The 'big three' covered by almost all policies are:
- Cancer (of a specified severity)
- Heart Attack
- Stroke
Most comprehensive policies today cover 50+ conditions, including things like multiple sclerosis, major organ transplant, and Parkinson's disease.
This lump sum gives you choices and removes financial pressure at a time when you need to focus all your energy on getting better. You could use the money to:
- Clear your mortgage or other major debts.
- Pay for private medical treatment or specialist therapies not available on the NHS.
- Adapt your home (e.g., install a ramp or stairlift).
- Allow a partner to take time off work to care for you.
- Simply replace lost income, allowing you to take a year or two off work without financial worry.
Life Protection: Securing Your Legacy
Life Insurance (or Life Protection) is perhaps the most well-known form of protection. It is a simple, powerful promise: if you pass away during the term of the policy, it pays a lump sum to your loved ones.
Its purpose is to replace the financial value you provide, ensuring that those who depend on you are not left in a vulnerable position. The payout can be used to:
- Pay off the mortgage, ensuring your family keeps their home.
- Cover funeral expenses.
- Provide a fund for your children's future education.
- Replace your lost income for a number of years.
- Clear outstanding loans or credit card debts.
There are two main types:
- Term Assurance: Provides cover for a fixed period (e.g., 25 years, to match your mortgage). This is the most common and affordable type.
- Whole of Life: Provides cover for your entire life, guaranteeing a payout whenever you die. This is often used for Inheritance Tax planning or to leave a guaranteed legacy.
Many people choose to combine Life and Critical Illness Cover into a single policy. This can be more cost-effective, but it's important to understand how the policy works (e.g., does it pay out on the first event and then end?). Speaking with a specialist adviser is essential to structure this correctly for your needs.
Family Income Benefit: A Smarter Way to Protect Your Loved Ones
While a large lump sum from a traditional life insurance policy sounds appealing, it can also be daunting for a grieving family to manage. How do you make a six-figure sum last for 20 years? How do you invest it wisely without taking on too much risk?
Family Income Benefit (FIB) offers an intelligent and often more manageable alternative.
Instead of paying a single lump sum upon death, an FIB policy pays out a regular, tax-free monthly or annual income to your family. This income is paid from the time of the claim until the policy's original end date.
How FIB Works in Practice:
Imagine you take out a 20-year FIB policy to provide £2,500 per month.
- If you were to pass away in Year 2 of the policy, your family would receive £2,500 every month for the remaining 18 years.
- If you were to pass away in Year 15, they would receive the income for the remaining 5 years.
The primary advantage is that it directly replaces your lost monthly salary, making budgeting simple and intuitive for your surviving partner. It removes the pressure of managing a large investment and ensures a steady, reliable income to cover everyday costs and maintain their standard of living.
Because the total potential payout decreases as the policy term progresses, FIB is also typically more affordable than a level lump-sum life insurance policy, making it an excellent choice for young families on a budget.
| Feature | Lump Sum Life Insurance (£500,000) | Family Income Benefit (£2,500/month for 20 years) |
|---|---|---|
| Payout Method | Single, large cash payment | Regular monthly/annual income |
| Management | Requires careful investment and budgeting | Simple, mimics a salary for easy budgeting |
| Purpose | Good for clearing large debts like a mortgage | Excellent for replacing lost income for daily living |
| Affordability | Can be more expensive | Often more affordable, especially for young families |
For the Entrepreneurial Spirit: Protecting Your Business and Yourself
For company directors, business owners, and key decision-makers, personal financial security is intrinsically linked to the health of their business. A personal health crisis can quickly become a business crisis. The UK market offers sophisticated, tax-efficient solutions designed specifically for this demographic.
Executive Income Protection
This is an Income Protection policy that is owned and paid for by your limited company, for your benefit as an employee/director.
The key advantages are:
- Tax Efficiency: The monthly premiums are typically considered an allowable business expense, meaning they can be offset against the company's corporation tax bill.
- No P11D Benefit: The premiums are not usually treated as a P11D benefit-in-kind, so there is no extra income tax for the director to pay.
- Higher Cover Levels: Insurers often allow for higher levels of cover (up to 80% of remuneration) compared to personal plans.
- Comprehensive Definitions: These policies almost always use the superior 'Own Occupation' definition of incapacity.
For a director, this is an incredibly efficient way to secure their personal income while the business benefits from tax relief.
Key Person Insurance
What would happen to your business if your top salesperson, genius developer, or you yourself were suddenly unable to work due to critical illness or death? Key Person Insurance is designed to protect the business itself from this financial fallout.
The policy is taken out by the business on the life of a crucial employee. If that person passes away or is diagnosed with a critical illness, the policy pays a lump sum directly to the business. This money can be used to:
- Recruit and train a replacement.
- Cover a drop in profits during the transition period.
- Reassure lenders and investors.
- Repay a business loan that the key person had guaranteed.
Relevant Life Cover
This is a tax-efficient death-in-service benefit for individual employees or directors of small businesses that are too small to set up a full group scheme.
Like Executive IP, the policy is paid for by the company and is an allowable business expense. The premiums are not a benefit-in-kind, and crucially, the payout on death is made into a discretionary trust. This means it is paid free of Inheritance Tax to the employee's nominated beneficiaries, completely separate from their personal or business assets. It's a highly effective way for directors to provide substantial life cover for their families outside of their personal estate.
At WeCovr, we have specialist advisers who understand the unique challenges faced by business owners. We can help you navigate the nuances of Key Person, Executive IP, and Relevant Life policies from all the major UK insurers, ensuring both your family and your business are robustly protected.
Protecting Your Legacy: Gift Inter Vivos and Inheritance Tax
As you build wealth, you may wish to pass some of it on to your children or grandchildren during your lifetime. However, UK Inheritance Tax (IHT) rules can create a potential liability on these gifts.
Under the '7-Year Rule', if you give away an asset (a 'Potentially Exempt Transfer') and then die within seven years, that gift may be subject to IHT. The amount of tax due reduces on a sliding scale, known as 'taper relief'.
| Years Between Gift and Death | Tax Paid on Gift |
|---|---|
| Less than 3 | 40% |
| 3 to 4 | 32% |
| 4 to 5 | 24% |
| 5 to 6 | 16% |
| 6 to 7 | 8% |
| 7 or more | 0% |
A Gift Inter Vivos ("gift between the living") insurance policy is a specialised form of life insurance designed to solve this specific problem. It's a decreasing term assurance policy where the sum assured is designed to match the declining IHT liability on the gift over the seven-year period.
If the person who made the gift dies within the seven years, the policy pays out to cover the exact IHT bill, ensuring the beneficiaries receive the full value of the gift as intended. It's a simple, cost-effective tool for strategic and worry-free estate planning.
Beyond Financial Payouts: The Power of Private Medical Insurance
While the protection policies discussed so far provide a crucial financial safety net, they don't get you treated any faster. This is where Private Medical Insurance (PMI), also known as private health insurance, forms the final piece of the resilience puzzle.
With NHS waiting lists remaining a significant concern in the UK, gaining rapid access to specialist care has become more valuable than ever. According to NHS England data from early 2025, millions of people are on waiting lists for consultant-led elective care.
PMI works alongside the NHS to give you more control over your healthcare. It covers the costs of private treatment for acute conditions that arise after you take out the policy.
The core benefits include:
- Speed: Bypass long NHS waiting lists for consultations, diagnostics (like MRI and CT scans), and surgery. This can mean getting a diagnosis and starting treatment in days or weeks, rather than many months or even years.
- Choice: You can choose your specialist or surgeon and select a hospital that is convenient for you.
- Comfort: You'll typically get a private en-suite room, offering more peace and quiet during your recovery.
- Access to Treatment: Gain access to certain specialist drugs, treatments, and therapies that may not be routinely available on the NHS due to funding decisions.
For someone who is self-employed, a business owner, or in a key role, getting back to health and work quickly is not just a preference; it's a financial necessity. PMI complements Income Protection perfectly: the PMI gets you treated quickly, and the IP covers your income while you recover.
More Than Money: A Holistic Approach to Resilience
Building true resilience isn't just about insurance policies. It's about creating a lifestyle that supports your physical and mental well-being, reducing your risk of illness in the first place. This proactive approach is the ultimate foundation for personal growth.
- Nourish Your Body: A balanced diet rich in whole foods, fruits, and vegetables is proven to reduce the risk of many chronic diseases.
- Prioritise Sleep: Aim for 7-9 hours of quality sleep per night. Sleep is essential for cognitive function, emotional regulation, and physical repair.
- Move Every Day: Regular physical activity is a powerful tool for managing stress, improving cardiovascular health, and boosting your mood.
Insurers are increasingly recognising the power of proactive health. Many leading UK providers now include value-added benefits with their policies, such as:
- Discounts on gym memberships and fitness trackers.
- Access to virtual GP services.
- Mental health support and counselling sessions.
- Annual health checks.
This is a philosophy we wholeheartedly endorse at WeCovr. We believe in empowering our clients not just with financial safety nets, but also with tools to live healthier lives. That's why, in addition to finding you the best protection policies, we provide our customers with complimentary access to CalorieHero, our proprietary AI-powered calorie and nutrition tracking app. It’s our way of going the extra mile, helping you build a foundation of health and well-being from the ground up.
Your Blueprint for Action: How to Build Your Financial Fortress
Feeling motivated to act is one thing; knowing where to start is another. Here is a simple, step-by-step blueprint to build your personal financial fortress.
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Conduct a Personal Audit: Sit down and get a clear picture of your finances. What are your monthly outgoings? What debts do you have (mortgage, loans)? Who depends on your income? What savings or employer benefits do you currently have?
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Identify Your Vulnerabilities: Ask the tough "what if" questions. What would happen to your family's finances if your income stopped tomorrow? How long could you survive on your savings? This isn't about scaremongering; it's about honest assessment.
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Prioritise Your Needs: You don't have to get every type of cover at once. A common hierarchy of needs is:
- Priority 1: Protect Your Income. For most working people, Income Protection or Personal Sick Pay is the absolute foundation.
- Priority 2: Protect Your Home & Family. Life Insurance to clear the mortgage and provide for dependents is next.
- Priority 3: Protect Against Major Health Shocks. Critical Illness Cover provides a lump sum for serious illness.
- Priority 4: Accelerate Your Recovery. Private Medical Insurance gives you fast access to treatment.
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Seek Independent, Expert Advice: The UK protection market is complex. Premiums, definitions, and policy features vary wildly between insurers like Aviva, Legal & General, Vitality, Royal London, and Zurich. Trying to navigate this alone can be overwhelming and lead to costly mistakes.
This is where a specialist broker like us comes in. At WeCovr, our role is to understand your unique situation, scan the entire market on your behalf, and present you with the most suitable, cost-effective options. We translate the jargon, compare the small print, and help you tailor a protection portfolio that forms a truly unshakeable foundation for your life.
From Anxiety to Ambition: The True ROI of Financial Protection
We began by stating that financial anxiety is the silent barrier to personal growth. The solution, therefore, is to silence it.
Strategically implemented financial protection is not an expense. It is an investment in your most valuable asset: your peace of mind. It is the act of drawing a line in the sand and declaring that a health crisis will not become a financial crisis.
When you remove that deep-seated worry, you free up immense mental and emotional energy. This is the energy you can now redirect towards your career, your business, your relationships, and your personal ambitions. You can take calculated risks, chase bigger goals, and be more present in your daily life, knowing that your financial foundations are secure, no matter what.
This is the blueprint for thriving in an uncertain world. It’s about building a life not on quicksand, but on solid rock – a foundation that empowers you to become the architect of your own success.
Is financial protection insurance expensive?
Do I need a medical exam to get cover?
What if I have a pre-existing medical condition?
Can I trust insurers to pay out?
Why should I use a broker like WeCovr instead of going directly to an insurer?
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!