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The Unseen Pillars of Personal Power

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

In our relentless pursuit of self-improvement, we invest in gym memberships, mindfulness apps, organic food, and career coaching. We strive to build resilience, cultivate a positive mindset, and optimise our lives for success and happiness. Yet, a fundamental truth is often overlooked: true personal power isn't just built on a strong mind and body, but on an unshakeable financial foundation.

Key takeaways

  • Increased Survival, Longer Recovery: Medical advancements mean more people than ever are surviving serious illnesses. However, survival often entails long and arduous treatment periods, followed by extended recovery. This can mean months, or even years, away from work.
  • Prevalence of Other Conditions: Beyond cancer, cardiovascular diseases remain a leading cause of disability. The Office for National Statistics (ONS) reported that in 2023, a staggering 185.6 million working days were lost due to sickness or injury in the UK. Musculoskeletal problems and mental health conditions are also major contributors.
  • NHS Pressures: The National Health Service is a national treasure, but it's under immense strain. In early 2025, NHS England figures show millions are on waiting lists for consultant-led elective care. This isn't just about inconvenience; waiting for diagnoses or treatments can have a profound impact on your health, your ability to work, and your mental wellbeing.
  • The Rise of Flexible Working: The growth of the gig economy, freelancing, and contract work offers freedom but comes at a cost. An estimated 4.3 million people are self-employed in the UK. For them, there is no employer sick pay, no death-in-service benefit, and no safety net beyond what they build themselves.
  • Precarious Savings: Despite our best intentions, saving is a challenge. The Financial Conduct Authority's (FCA) Financial Lives survey consistently shows a significant portion of UK adults have very little in savings, with many having less than £1,000. An unexpected loss of income for even a single month could push millions into financial crisis.

In our relentless pursuit of self-improvement, we invest in gym memberships, mindfulness apps, organic food, and career coaching. We strive to build resilience, cultivate a positive mindset, and optimise our lives for success and happiness. Yet, a fundamental truth is often overlooked: true personal power isn't just built on a strong mind and body, but on an unshakeable financial foundation. The most potent form of resilience is the one that protects you when life, inevitably, deviates from the plan.

Beyond self-help: How strategic financial protection – including income cover for every profession, critical illness cover, and private health access – builds true resilience, empowers bold choices, and future-proofs your dreams against the unpredictable realities of 2025, where one in two UK lives faces cancer.

We live in an era of unprecedented uncertainty. While we focus on controllable factors like diet and exercise, the uncontrollable ones pose the greatest threat to our ambitions. A sudden illness, a serious accident, a life-altering diagnosis – these are the seismic shocks that can demolish even the most carefully constructed life plans.

The stark reality, according to Cancer Research UK, is that one in two people in the UK will be diagnosed with cancer in their lifetime. This isn't a statistic to induce fear, but a call for pragmatic foresight. It underscores a critical question: is your lifestyle, your home, and your family's future secured against the unexpected?

This guide moves beyond conventional self-help to explore the 'unseen pillars' of personal empowerment. We will delve into how a strategic portfolio of financial protection—tailored to your unique life and career—is the ultimate tool for building genuine, lasting resilience. It's the bedrock that allows you to take risks, chase dreams, and live boldly, knowing you have a powerful safety net woven from foresight and planning.

The Shifting Landscape of Risk in 2025 Britain

To build an effective defence, we must first understand the threats. The challenges facing UK households in 2025 are a complex mix of health, economic, and systemic pressures.

The Health Reality: More Than Just a Statistic

The "1 in 2" cancer statistic is just the headline. The full story involves:

  • Increased Survival, Longer Recovery: Medical advancements mean more people than ever are surviving serious illnesses. However, survival often entails long and arduous treatment periods, followed by extended recovery. This can mean months, or even years, away from work.
  • Prevalence of Other Conditions: Beyond cancer, cardiovascular diseases remain a leading cause of disability. The Office for National Statistics (ONS) reported that in 2023, a staggering 185.6 million working days were lost due to sickness or injury in the UK. Musculoskeletal problems and mental health conditions are also major contributors.
  • NHS Pressures: The National Health Service is a national treasure, but it's under immense strain. In early 2025, NHS England figures show millions are on waiting lists for consultant-led elective care. This isn't just about inconvenience; waiting for diagnoses or treatments can have a profound impact on your health, your ability to work, and your mental wellbeing.

The Economic Reality: A Vanishing Safety Net

The way we work and live has fundamentally changed, eroding traditional financial safety nets.

  • The Rise of Flexible Working: The growth of the gig economy, freelancing, and contract work offers freedom but comes at a cost. An estimated 4.3 million people are self-employed in the UK. For them, there is no employer sick pay, no death-in-service benefit, and no safety net beyond what they build themselves.
  • Precarious Savings: Despite our best intentions, saving is a challenge. The Financial Conduct Authority's (FCA) Financial Lives survey consistently shows a significant portion of UK adults have very little in savings, with many having less than £1,000. An unexpected loss of income for even a single month could push millions into financial crisis.
  • Insufficient State Support: Many assume the state will provide. Yet, Statutory Sick Pay (SSP) is just £116.75 per week (2024/25 rate) – a sum insufficient to cover rent or mortgage payments, let alone household bills, for the vast majority of people.

This convergence of risks creates a perfect storm. A health crisis can quickly become a financial catastrophe, derailing your life and placing immense strain on your loved ones. This is where strategic protection becomes not just a 'nice-to-have', but an essential component of modern life.

Pillar 1: Income Protection – Your Personal Salary Safety Net

Of all the forms of financial protection, Income Protection (IP) is arguably the most fundamental. It addresses the single biggest financial risk for most working people: the loss of their ability to earn a living.

What is Income Protection?

Quite simply, Income Protection is a type of insurance that pays you a regular, tax-free monthly income if you are unable to work due to any illness or injury. It's designed to replace a significant portion of your lost earnings, allowing you to continue paying your bills and maintaining your lifestyle while you focus on recovery.

It is crucial not to confuse this with Payment Protection Insurance (PPI), which was often mis-sold and covered specific debts for a limited time. True Income Protection covers you and your income, for potentially as long as it takes for you to return to work, right up until retirement age if necessary.

Who Needs It? The Answer is Everyone Who Earns.

  • The Employed: "My company offers sick pay," is a common refrain. But it's vital to check the details. Many company schemes only pay your full salary for a few weeks or months, after which you could be dropped to half-pay, and then onto SSP. Income Protection is designed to kick in when your employer's support runs out.
  • The Self-Employed and Freelancers: For this dynamic and growing part of the workforce, Income Protection is not just important; it's critical. If you don't work, you don't get paid. There is no SSP. An IP policy is the only way to create your own sick pay arrangement, providing a stable income stream when you need it most.
  • Company Directors: For directors of limited companies, Executive Income Protection is a highly effective solution. The policy is owned and paid for by your company, making the premiums a legitimate business expense. The benefit, if paid, is channelled through the business and paid to you as salary, ensuring business continuity and personal financial security.

How Income Protection Works

Understanding the key features allows you to tailor a policy perfectly to your needs.

FeatureDescriptionImpact on Premium
Benefit AmountThe monthly income you receive. Typically 50-70% of your gross salary.Higher benefit = higher premium.
Deferment PeriodThe waiting period before the policy starts paying out (e.g., 4, 13, 26, or 52 weeks).Longer deferment = lower premium. Align this with your employer sick pay or savings.
Policy TermHow long the policy lasts. Usually set to your planned retirement age (e.g., 60, 65, 68).Longer term = higher premium.
Benefit PeriodHow long the policy will pay out for each claim (e.g., 2 years, 5 years, or 'full term' until the policy ends).Full term cover offers the best protection but costs more than limited-term options.

A Real-World Example: Consider Sarah, a 40-year-old self-employed marketing consultant earning £60,000 a year. She develops a severe repetitive strain injury (RSI) that prevents her from using a keyboard for long periods. Her work grinds to a halt. (illustrative estimate)

Without protection, Sarah would face a rapid depletion of her savings and immense stress. With Income Protection, her story is different. After her 13-week deferment period, her policy starts paying her £3,000 per month (60% of her gross income). This allows her to pay her mortgage, cover her bills, and invest in specialist physiotherapy. The financial pressure is gone, allowing her to focus entirely on her recovery. (illustrative estimate)

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Pillar 2: Critical Illness Cover – A Financial First Responder

While Income Protection shields your monthly budget, Critical Illness Cover (CIC) acts as a financial first responder, delivering a powerful lump sum of cash when a medical crisis hits.

What is Critical Illness Cover?

CIC pays out a tax-free lump sum on the diagnosis of a specified serious illness. Unlike IP, it is not linked to your ability to work. You could be back at your desk in a month, but if you've been diagnosed with a condition listed on your policy, you are entitled to the payout.

The "Why": Beyond Replacing Income

The purpose of this lump sum is to give you financial firepower and options at a time of immense emotional and physical distress. It can be used for anything, but common uses include:

  • Eliminating Debt: Paying off a mortgage or other significant loans to drastically reduce your monthly outgoings, easing the pressure on your household finances permanently.
  • Funding Medical Needs: Paying for specialist treatments or drugs not yet available on the NHS, or seeking consultations with leading global experts.
  • Adapting Your Life: Making modifications to your home (like installing a stairlift) or buying specialist equipment to aid your recovery and improve your quality of life.
  • Creating Breathing Space: Allowing your partner or a family member to take an extended period off work to care for you without plunging the family into financial hardship.
  • Protecting Your Business: For a business owner, it could provide the capital needed to hire a temporary replacement to keep the business running smoothly during their absence.

What Does It Cover?

All policies cover the "big three": cancer, heart attack, and stroke, which account for the majority of claims. However, comprehensive policies today cover a wide range of other conditions.

Common Covered ConditionsExamples
CancerInvasive cancers, and often early-stage cancers for a partial payment.
Heart ConditionsHeart attack, coronary artery bypass surgery.
Neurological ConditionsStroke, Multiple Sclerosis, Parkinson's Disease.
Organ-relatedMajor organ transplant, kidney failure.
DisabilitiesLoss of limb, permanent blindness or deafness.
Other Serious ConditionsTraumatic head injury, third-degree burns.

The definitions of these conditions are critical. A key part of our role at WeCovr is to help clients navigate these definitions, comparing policies from leading UK insurers to ensure they select a plan with robust, modern, and fair terms that are more likely to pay out when needed.

Pillar 3: Private Medical Insurance – Your Fast-Track to Health

The third pillar of your resilience fortress is direct access to healthcare. Private Medical Insurance (PMI) is your key to bypassing queues and taking control of your medical journey.

What is Private Medical Insurance?

PMI is a health insurance policy that covers the cost of private medical care for acute conditions (illnesses or injuries that are likely to respond to treatment). It's designed to complement the care provided by the NHS, not replace it entirely (for example, A&E and chronic condition management typically remain with the NHS).

The "Why" in an Era of Waiting Lists

In 2025, the primary driver for considering PMI is speed of access. When you're in pain or worried about a symptom, waiting weeks for a diagnostic scan or months for surgery can be agonising. PMI offers:

  • Prompt Diagnosis: Get seen by a specialist quickly, often within days of a GP referral.
  • Fast-Tracked Treatment: Avoid long NHS waiting lists for surgery and other treatments.
  • Choice and Comfort: Choose your consultant, your hospital, and schedule your treatment at a time that suits you. Enjoy the comfort of a private room.
  • Access to Advanced Care: Some policies provide access to the latest licensed cancer drugs and treatments, even if they aren't yet approved by the National Institute for Health and Care Excellence (NICE) for NHS use.

Beyond Treatment: The Wellness Bonus

Modern PMI is evolving. Many leading policies now include a host of added-value benefits that actively support your wellbeing:

  • Virtual GP Services: 24/7 access to a GP via phone or video call.
  • Mental Health Support: Direct access to counselling and therapy sessions without a long wait.
  • Wellness Programmes: Discounts on gym memberships, fitness trackers, and health screenings.

This proactive approach aligns perfectly with building holistic resilience. At WeCovr, we value this proactive stance on health, which is why we provide our clients with complimentary access to our AI-powered calorie and nutrition tracker, CalorieHero, helping you manage your health and wellbeing as part of our commitment to your overall security.

Tailoring Your Fortress: Solutions for Every Life Stage and Profession

A "one-size-fits-all" approach to protection simply doesn't work. Your strategy must be tailored to your specific circumstances, career, and family structure.

For Business Owners and Company Directors

You face unique challenges, but also have access to uniquely tax-efficient solutions.

  • Key Person Insurance: Imagine your top salesperson or technical genius is diagnosed with a critical illness and is off work for a year. How would your profits and operations be affected? Key Person Insurance is a policy taken out by the business on a vital employee. If that person dies or suffers a specified critical illness, the policy pays a lump sum to the business to cover lost profits, recruit a replacement, or repay business loans.
  • Relevant Life Cover: This is a highly tax-efficient way for a limited company to provide a death-in-service benefit for an employee or director. The premiums are typically an allowable business expense, and the benefits are paid tax-free to the individual's family, outside of their estate for inheritance tax purposes.
  • Executive Income Protection: As mentioned earlier, this allows the business to pay the premiums on a director's income protection policy, making it a tax-deductible expense and a powerful tool for attracting and retaining top talent.

For Families

Protecting your loved ones is the primary motivation for many.

  • Family Income Benefit: A traditional life insurance policy pays out a large lump sum. While useful, it can be difficult for a grieving partner to manage. Family Income Benefit is an alternative that, upon death, pays out a regular, tax-free monthly or annual income until the end of the policy term. This directly replaces the deceased's lost salary, making budgeting simple and secure.
  • Life and Critical Illness Cover: Combining these two policies is a popular and powerful strategy. It provides a lump sum either on diagnosis of a serious illness or on death, covering all eventualities.
  • Children's Critical Illness Cover: This is often included as standard on a parent's policy. It provides a smaller lump sum if your child is diagnosed with a specified serious illness, allowing you to take time off work and cover additional expenses without financial worry.

For Prudent Estate Planning

  • Gift Inter Vivos Insurance: If you gift a significant asset (e.g., property or cash) to a loved one, it may be subject to Inheritance Tax (IHT) if you die within seven years of making the gift. This is known as a Potentially Exempt Transfer. A Gift Inter Vivos policy is a specialised life insurance plan designed to pay out a lump sum that covers this potential tax liability, ensuring your beneficiaries receive the full value of your gift.

Building Your Resilience: Practical Steps & Expert Insights

Taking the step to secure your financial future can feel daunting, but it can be broken down into a simple, manageable process.

  1. Conduct a Personal Audit: Start by understanding your exact position. What is your monthly income and what are your essential outgoings (mortgage/rent, bills, food)? What savings do you have? What support would you get from your employer, and for how long? This gives you a clear picture of your vulnerability.

  2. Challenge Your Assumptions on Cost: Many people overestimate the cost of protection. The price is influenced by your age, health, smoking status, and occupation. For a healthy 35-year-old non-smoker, comprehensive income protection can cost less than a monthly streaming subscription bundle. The key is to get a personalised quote.

  3. Prioritise Your Needs: If you can't afford everything at once, prioritise. For most working people, Income Protection should be the number one priority, as it protects your foundational ability to earn. After that, consider Critical Illness Cover to protect your assets like your home, and then PMI for speed of access to care.

  4. Embrace the Power of Advice: Navigating the insurance market alone can be a minefield of complex jargon, policy exclusions, and varying definitions. This is where an independent broker becomes your most valuable asset. A specialist adviser doesn't just 'sell' you a policy; they act as a professional guide.

At WeCovr, we take a holistic approach. We invest time in understanding your personal and professional life, your financial situation, and your future aspirations. We then search the entire market, comparing policies from all the UK's leading insurers, to construct a protection portfolio that is robust, affordable, and perfectly aligned with your life. We handle the paperwork, help you with the medical disclosures, and ensure your policies are set up correctly, for instance by placing them in trust to ensure the payout reaches your loved ones quickly and tax-efficiently.

Conclusion: The True Meaning of Personal Power in 2025

True personal power in the 21st century is not the absence of problems; it is the capacity to withstand them. It is the freedom that comes from knowing that a health crisis will not become a financial one.

The unseen pillars of Income Protection, Critical Illness Cover, and Private Medical Insurance are the foundation upon which you can build a bolder, more ambitious life. They empower you to change careers, start that business, or take that sabbatical, knowing that your financial world will not collapse if the unexpected happens.

Investing in strategic financial protection is the ultimate act of self-care and empowerment. It’s a declaration that you value your future, and the future of those you love, enough to protect it. It is not about planning for failure; it is about creating the unshakeable security that enables your greatest success.

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

They serve two different but complementary purposes. Income Protection pays you a regular monthly income if you can't work due to any illness or injury, designed to replace your salary. Critical Illness Cover pays a one-off, tax-free lump sum if you are diagnosed with a specific serious illness listed on the policy, regardless of whether you can work. Many people have both to create a comprehensive safety net.

Is this type of insurance expensive?

The cost varies significantly based on your age, health, occupation, smoker status, and the level of cover you choose. However, it is often more affordable than people think. For example, by choosing a longer deferment period on an Income Protection policy or a smaller lump sum on a Critical Illness plan, you can make cover more budget-friendly. A specialist adviser can help you find the right balance between cost and coverage.

I'm young and healthy, do I really need this?

This is actually the best time to get cover. Premiums are significantly lower when you are young and healthy. Locking in a policy early means you secure cheaper rates for the entire term of the policy. Unfortunately, illness and accidents can happen at any age, and the financial impact can be even more severe when you haven't had decades to build up savings.

I'm self-employed, what's the most important cover for me?

For most self-employed individuals, Income Protection is the most critical cover. As you have no employer sick pay to fall back on, an IP policy is the only way to ensure you have an income if you're unable to work due to illness or injury. It provides the financial stability needed to keep your personal and business finances afloat while you recover.

How does writing a policy in trust work?

Placing a life insurance or critical illness policy 'in trust' is a simple legal arrangement that separates the policy from your legal estate. This has two major benefits: the payout can be made to your chosen beneficiaries much more quickly (as it avoids the probate process), and it usually falls outside of your estate for Inheritance Tax purposes. Most insurers provide standard trust forms, and an adviser can help you complete them correctly.

Can I get cover if I have a pre-existing medical condition?

It depends on the condition, its severity, and how long ago you had symptoms or treatment. In many cases, you can still get cover. The insurer might apply a 'medical exclusion,' meaning they won't pay out for claims related to that specific condition, but you would still be covered for everything else. In other cases, they may increase the premium. It is vital to be completely honest during the application process. A specialist broker can be invaluable in finding the insurer most likely to offer favourable terms for your specific condition.

Sources

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

Related tools

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

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Why life insurance and how does it work?

What is Life Insurance?

Life insurance is an insurance policy that can provide financial support for your loved ones when you or your joint policy holder passes away. It can help clear any outstanding debts, such as a mortgage, and cover your family's living and other expenses such costs of education, so your family can continue to pay bills and living expenses. In addition to life insurance, insurance providers offer related products such as income protection and critical illness, which we will touch upon below.

How does it work?

Life insurance pays out if you die. The payout can be in the form of a lump sum payment or can be paid as a replacement for a regular income. It's your decision how much cover you'd like to take based on your financial resources and how much you'd like to leave to your family to help them deal with any outstanding debts and living expenses. Your premium depends on a number of factors, including your occupation, health and other criteria.

The payout amount can change over time or can be fixed. A level term or whole of life policy offers a fixed payout. A decreasing term policy offers a payout that decreases over the term of the cover.

With critical illness policies, a payout is made if you’re diagnosed with a terminal illness with a remaining life expectancy of less than 12 months. While income protection policies ensure you can continue to meet your financial commitments if you are forced to take an extended break from work. If you can’t work because you’ve had an accident, fallen sick, or lost your job through no fault of your own, income protection insurance pays you an agreed portion of your salary each month.

Income protection is particularly helpful for people in dangerous occupations who want to be sure their mortgage will always be covered. Income protection only covers events beyond your control: you’re much less likely to be covered if you’re fired from your job or if you injure yourself deliberately.

Questions to ask yourself regarding life insurance

Just ask yourself:
👉 Who would pay your mortgage or rent if you were to pass away or fall seriously ill?
👉 Who would pay for your family’s food, clothing, study fees or lifestyle?
👉 Who would provide for the costs of your funeral or clear your debts?
👉 Who would pay for your costs if you're unable to work due to serious illness or disability?

Many families don’t realise that life, income protection and critical illness insurance is one of the most effective ways to protect their finances. A great insurance policy can cover costs, protect a family from inheriting debts and even pay off a mortgage.

Many would think that the costs for all the benefits provided by life insurance, income protection insurance or critical illness insurance are too high, but the great news is in the current market policies are actually very inexpensive.

Benefits offered by income protection, life and critical illness insurance

Life insurance, income protection and critical illness insurance are indispensable for every family because a child loses a parent every 22 minutes in the UK, while every single day tragically 60 people suffer major injuries on the UK roads. Some people become unable to work because of sickness or disability.

Life insurance cover pays out a lump sum to your family, loved ones or whomever you choose to get the money. This can be used to secure the financial future of your loved ones meaning they would not have to struggle financially in the event of your death.

If it's a critical illness cover, the payout happens sooner - upon diagnosis of a serious illness, disability or medical condition, easing the financial hardship such an event inevitably brings.

Income protection insurance can be very important for anyone who relies on a pay check to cover their living costs, but it's especially important if you’re self-employed or own a small business, where your employment and income is a bit less stable. It pays a regular income if you can't work because of sickness or disability and continues until you return to paid work or you retire.

In a world where 1 in 4 of us would struggle financially after just four weeks without work, the stark reality hits hard – a mere 7% of UK adults possess the vital shield of income protection. The urgency of safeguarding our financial well-being has never been more palpable.

Let's face it – relying on savings isn't a solution for everyone. Almost 25% of people have no savings at all, and a whopping 50% have £1,000 or less tucked away. Even more concerning, 51% of Brits – that's a huge 27 million people – wouldn't last more than one month living off their savings. That's a 10% increase from 2022.

And don't even think about state benefits being a safety net. The maximum you can expect from statutory sick pay is a mere £109.40 per week for up to 28 weeks. Not exactly a financial lifeline, right?

Now, let's tackle a common objection: "But I have critical illness insurance. I don't need income protection too." Here's the deal – the two policies apply to very different situations. In a nutshell:

  • Critical illness insurance pays a single lump sum if you're diagnosed with or undergo surgery for a specified potentially life-threatening illness. It's great for handling big one-off expenses or debts.
  • Income protection, on the other hand, pays a percentage of your salary as a regular payment if you can't work due to illness or injury. It's the superhero that tackles those relentless monthly bills.

Types of life insurance policies

Common reasons for getting a life insurance policy are to:
✅ Leave behind an amount of money to keep your family comfortable
✅ Protect the family home and pay off the mortgage in full or in part
✅ Pay for funeral costs

Starting from as little as a couple of pounds per week, you can do all that with a Life Policy.

Level Term Life Insurance
One of the simplest forms of life insurance, level term life insurance works by selecting a length of time for which you would want to be covered and then deciding how much you would like your loved ones to receive should the worst happen. Should your life insurance policy pay out to your family, it would be in a lump sum amount that can be used in whatever way the beneficiary may wish.

Decreasing Term Life Insurance
Decreasing term life insurance works in the same way as level term, except the lump sum payment amount upon death decreases with time. The common use for decreasing term life cover is to protect against mortgage repayment as the lump sum decreases along with the principal of the mortgage itself.

Increasing Term Life Insurance
Increasing term life insurance aims to pay out a cash sum growing each year if the worst happens while covered by the policy. With increasing term life cover amount insured increases annually by a fixed amount for the length of the policy. This can protect your policy's value against inflation, which could be advantageous if you’re looking to maintain your loved ones’ living standards, continue paying off your mortgage in line with its repayment schedule and cover your children’s education fees.

Whole of Life Insurance
Whereas term life insurance policies only pay out if you pass away during their term, whole of life insurance pays out to your beneficiaries whenever this should happen. The most common uses for whole life insurance are to cover the costs of a funeral or as a vehicle for your family's inheritance tax planning.

Family Income Benefit
Family income benefit is a somewhat lesser-known product in the family of life insurance products. Paying out a set amount every month of year to your beneficiaries, it is the most cost-effective way of maintaining your family's living standards to an age where you'd expect them to be able to support themselves financially. The most common use would be for a family with children who are not working yet so are unable to take care of themselves financially.

Relevant Life Insurance
Relevant Life Insurance is a tax-efficient policy for a director or single employee. A simple level term life insurance product, it is placed in a specific trust to ensure its tax efficiency. The premiums are tax deductible and any benefit payable should a claim arise is also paid out tax free, which makes it an attractive product for entrepreneurs and their businesses.

Important Fact!

There is no need to wait until the renewal of your current policy.
We can look at a more suitable option mid-term!

Why is it important to get life insurance early?

👉 Many people are very thankful that they had their life, income protection, and critical illness insurance cover in place before running into some serious issues. Critical illness and income protection insurance is as important as life insurance for protecting your family's finances.

👉 We insure our cars, houses, bicycles and even bags! Yet our life and health are the most precious things we have.

Easily one of the most important insurance purchases an individual or family can make in their lifetime, the decision to buy life, income protection, critical illness and private medical health insurance can be made much simpler with the help of experienced advisers. They are the specialists who do the searching and analysis helping people choose between various types of life insurance policies available in the market, including income protection, critical illness and other types of policies most suitable to the client's individual circumstances.

It certainly won't do any harm if you speak with one of our experienced FCA-authorised insurance partner experts who are passionate about advising people on financial matters related to life insurance and are keen to provide you with a free consultation.

You can discuss with them in detail what affordable life, income protection, critical illness or private medical health insurance plan for the necessary peace of mind they would recommend! WeCovr works with some of the best advisers in the market.

By tapping the button below, you can book a free call with them in less than 30 seconds right now:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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