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the Unstoppable You Growths Ultimate Foundation

WeCovr Editorial Team · experienced insurance advisers
Last updated Feb 20, 2026
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TL;DR

Whether it’s advancing in our careers, deepening our relationships, launching a business, or simply becoming a better version of ourselves, the drive to build and improve is fundamental. We create five-year plans, set ambitious goals, and invest in our skills. Yet, we often overlook the single most important foundation upon which all this growth is built: our health and our ability to earn an income.

Key takeaways

  • The Cancer Statistic (illustrative): As mentioned, Cancer Research UK projects that 1 in 2 of us will face a cancer diagnosis at some point. While survival rates are thankfully improving, treatment can be long, gruelling, and often requires significant time off work.
  • Cardiovascular Disease: The British Heart Foundation reports that there are around 7.6 million people in the UK living with heart and circulatory diseases. Every five minutes, someone is admitted to a UK hospital due to a heart attack.
  • Strokes: According to the Stroke Association, there are over 100,000 strokes in the UK each year—that's one every five minutes. A third of stroke survivors are left with a long-term disability.
  • Mental Health: The Health and Safety Executive's 2023 figures showed that stress, depression, or anxiety accounted for a staggering 17.1 million working days lost in the UK.
  • You may be unable to work for months, or even years.

the Unstoppable You Growths Ultimate Foundation

We all strive for growth. Whether it’s advancing in our careers, deepening our relationships, launching a business, or simply becoming a better version of ourselves, the drive to build and improve is fundamental. We create five-year plans, set ambitious goals, and invest in our skills. Yet, we often overlook the single most important foundation upon which all this growth is built: our health and our ability to earn an income.

Imagine constructing a magnificent skyscraper. You’d obsess over the design, the materials, the height. But none of it would matter if you built it on sand. In life, that sand is the assumption that your health and income are guaranteed. The bedrock, the solid foundation, is a strategic plan to protect them.

This isn't about pessimism; it's about profound optimism. It's about having the clarity and confidence to pursue your most audacious goals, knowing that a financial shock absorber is in place. It's about creating a blueprint for becoming truly unstoppable.

The urgency for this has never been greater. We are heading into a health landscape where, according to long-term projections by Cancer Research UK, 1 in 2 people born after 1960 in the UK will be diagnosed with some form of cancer in their lifetime. When you factor in other life-altering events like heart attacks, strokes, and debilitating mental health conditions, the odds of your life being significantly impacted by a health crisis are no longer a remote possibility. They are a statistical probability. (illustrative estimate)

This guide is your blueprint. It will show you how the three pillars of modern financial protection—Life Insurance, Critical Illness Cover, and Income Protection—are not merely expenses but are, in fact, the most powerful investments you can make in your growth, your relationships, and your legacy.

The Stark Reality: Why the 'It Won't Happen to Me' Mindset is a Gamble

It's human nature to be optimistic about our own health. We eat a bit better, go for the occasional run, and assume the serious stuff happens to other people. But in 2025, relying on this optimism alone is a high-stakes gamble with your entire future.

The statistics paint a sobering picture of the UK's health landscape:

  • The Cancer Statistic (illustrative): As mentioned, Cancer Research UK projects that 1 in 2 of us will face a cancer diagnosis at some point. While survival rates are thankfully improving, treatment can be long, gruelling, and often requires significant time off work.
  • Cardiovascular Disease: The British Heart Foundation reports that there are around 7.6 million people in the UK living with heart and circulatory diseases. Every five minutes, someone is admitted to a UK hospital due to a heart attack.
  • Strokes: According to the Stroke Association, there are over 100,000 strokes in the UK each year—that's one every five minutes. A third of stroke survivors are left with a long-term disability.
  • Mental Health: The Health and Safety Executive's 2023 figures showed that stress, depression, or anxiety accounted for a staggering 17.1 million working days lost in the UK.

This isn't about scaremongering. It's about acknowledging reality. Modern medicine is fantastic at keeping us alive, but it doesn't always restore us to our previous state of health or earning capacity overnight. The period of recovery and adaptation can be long, and the financial impact can be devastating without a plan.

Illness/EventUK Incidence/Prevalence (Recent Data)Potential Financial Impact
Cancer1 in 2 lifetime risk (CRUK)Time off work, travel for treatment, potential loss of income.
Heart Attack1 every 5 minutes (BHF)Extended recovery, potential need for career change.
Stroke1 every 5 minutes (Stroke Association)Long-term disability, home modifications, loss of income.
Serious Mental Health1 in 6 adults experienced a common mental disorder (NHS Digital)Inability to work, prolonged absence, career interruption.

The financial consequences of a serious illness extend far beyond the immediate loss of salary. You might need to adapt your home, pay for private therapies to speed up recovery, or have a partner take time off work to care for you. This is where a strategic protection plan transforms from a 'nice-to-have' into the very mechanism that holds your life together.

Pillar 1: Life Insurance – The Cornerstone of Your Legacy

Life Insurance is the most well-known form of protection, yet its purpose is often misunderstood. It's not for you; it's for the people you would leave behind. It is a profound act of care that ensures your financial legacy is one of security, not struggle.

At its core, Life Insurance pays out a tax-free lump sum or a regular income upon your death. This money can be used by your loved ones to:

  • Pay off the mortgage, removing their single biggest financial burden.
  • Cover ongoing living expenses, like bills, food, and childcare.
  • Provide for children's future education.
  • Settle any outstanding debts or funeral costs.
  • Leave an inheritance, giving your family a head start.

Key Types of Personal Life Insurance

Policy TypeHow It WorksBest For
Level TermThe payout amount is fixed for a specific term (e.g., £250,000 for 25 years).Covering an interest-only mortgage or providing a specific lump sum for family expenses.
Decreasing TermThe payout amount reduces over time, usually in line with a repayment mortgage.Covering a repayment mortgage, as the cover decreases along with the outstanding loan.
Family Income BenefitPays a regular, tax-free monthly or annual income for the remainder of the policy term, rather than a single lump sum.Replacing your lost salary in a manageable way for your family's budgeting.
Whole of LifeCovers you for your entire life, with a guaranteed payout whenever you die.Covering a future Inheritance Tax bill or leaving a guaranteed legacy.

A Special Case: Gifting and Inheritance Tax

For those with significant assets, Gift Inter Vivos insurance is a clever tool. If you gift a large sum of money or an asset to someone, it may be liable for Inheritance Tax (IHT) if you die within seven years. This type of policy provides a lump sum to cover that potential tax bill, ensuring your gift reaches its recipient in full.

Pillar 2: Critical Illness Cover – Your Shield Against Life's Curveballs

If Life Insurance is for your legacy, Critical Illness Cover is for living. It is designed to protect your quality of life and financial stability after a life-altering diagnosis.

It pays out a tax-free lump sum if you are diagnosed with one of a list of specified serious conditions defined in the policy. This money is yours to use however you see fit, providing a crucial financial cushion at a time of immense stress.

Think about what a diagnosis of cancer, a heart attack, or Multiple Sclerosis would mean. Beyond the emotional and physical toll, the financial implications can be immediate:

  • You may be unable to work for months, or even years.
  • Your partner might need to reduce their hours to care for you.
  • You might want to access private medical treatments or specialist therapies not immediately available on the NHS to speed up recovery.
  • You may need to make adaptations to your home or car.

The payout from a Critical Illness policy gives you choices. It allows you to focus 100% on your recovery, not on how you're going to pay the mortgage. You could use the funds to clear your mortgage, replace your income for a year, or simply have a substantial emergency fund to dip into as needed.

Example: Amelia, a 42-year-old marketing manager and mother of two, is diagnosed with breast cancer. Her employer's sick pay covers her for six months, but her treatment is expected to take the better part of a year. Her Critical Illness policy pays out £100,000. This lump sum allows her family to continue paying the mortgage and bills without worry. Amelia uses a portion of it to pay for private physiotherapy and psychological support, helping her manage the side effects of her treatment and return to work stronger, both mentally and physically, when she is ready. (illustrative estimate)

Modern policies cover a wide range of conditions, often over 50, including the "big three" (cancer, heart attack, stroke) as well as conditions like Parkinson's disease, motor neurone disease, and permanent disabilities from injury. The specific definitions are crucial, which is why expert advice is invaluable.

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Pillar 3: Income Protection – Your Personal Financial Safety Net

Of the three pillars, Income Protection (IP) is arguably the most vital for any working adult. Why? Because your ability to earn an income is your single greatest financial asset. It underpins your entire lifestyle—your home, your holidays, your hobbies, your savings. If that income stops, everything else is at risk.

Income Protection is designed to pay you a regular, tax-free monthly income if you are unable to work due to any illness or injury. It's a replacement for your salary.

Many people mistakenly believe they are covered by other means:

  • "My employer will pay me." Check your contract. Most private-sector employers offer full sick pay for a very limited period—often just a few weeks or months. After that, you could be on your own.
  • Illustrative estimate: "The state will support me." Statutory Sick Pay (SSP) is the legal minimum your employer has to pay you. As of 2024/25, it is just £116.75 per week. Could you pay your mortgage, bills, and food on less than £500 a month? Employment and Support Allowance (ESA) offers slightly more, but it is still a fraction of the average UK salary and is means-tested.
  • Illustrative estimate: "I have savings." The average UK household has less than £10,000 in savings. How long would that last if your income stopped tomorrow? A serious illness could keep you out of work for years.

How Income Protection Works

You choose a few key options when setting up a policy:

  1. The Benefit Amount: This is typically 50-70% of your gross monthly income. This is paid tax-free, so it's often close to your normal take-home pay.
  2. The Deferred Period: This is the waiting period before the payments begin. You can choose a period that aligns with your employer's sick pay policy or your savings—common options are 4, 8, 13, 26, or 52 weeks. A longer deferred period makes the policy cheaper.
  3. The Benefit Period: This is how long the policy will pay out for. It can be for a short term (e.g., 2 or 5 years per claim) or, ideally, a long-term policy that pays out right up until your chosen retirement age if you can never return to work.

For those in riskier jobs, like tradespeople, nurses, or electricians, a specialist type of cover sometimes known as Personal Sick Pay can be ideal. These policies often have shorter deferred periods (even just one week) and are designed to cover you for shorter-term absences.

A Comparison of the Three Pillars

FeatureLife InsuranceCritical Illness CoverIncome Protection
When it pays outOn your death.On diagnosis of a specified serious illness.When you're unable to work due to any illness or injury.
How it pays outTypically a one-off lump sum or regular income.A one-off tax-free lump sum.A regular, tax-free monthly income.
Primary PurposeTo protect your loved ones financially after you're gone.To protect your quality of life and finances while you recover.To replace your lost salary and maintain your lifestyle.

Beyond Survival: How Financial Security Fuels Personal and Professional Growth

This is the crucial shift in mindset. Protection insurance isn't just a defensive strategy against disaster; it's an offensive strategy for success. When you remove the underlying anxiety of "what if my income stops?" or "what if I get sick?", you liberate an incredible amount of mental and emotional energy.

This is the foundation that makes you unstoppable:

  • Psychological Freedom: Financial security provides peace of mind. This mental clarity allows you to be more present in your relationships, more creative in your work, and more courageous in your decisions. You operate from a place of ambition, not fear.
  • Calculated Risk-Taking: Want to leave your safe corporate job to start your own business? Want to invest in a major new venture? Knowing your family's home and your personal income are protected allows you to take these calculated risks that are essential for growth.
  • Focus on Health and Relationships: When a health crisis does occur, financial protection allows you to focus on what truly matters: recovery and loved ones. It prevents a health crisis from becoming a financial crisis, which in turn protects your relationships from the immense strain that money worries can cause.

At WeCovr, we see this every day. Our clients aren't just buying policies; they are buying the freedom to pursue their goals. We help them construct this financial fortress so they can confidently go out and build their empire, whatever that may look like.

The Entrepreneur's Armour: Protecting Your Business, Your Team, and Your Vision

For company directors, business owners, and the self-employed, this foundation is even more critical. Your personal and business finances are often deeply intertwined. An illness doesn't just affect you; it can threaten the very existence of the business you've worked so hard to build.

Fortunately, there are specialist, highly tax-efficient solutions designed for you.

Key Types of Business Protection

Policy TypeWho It's ForWhat It DoesKey Benefit
Key Person InsuranceA business with employees critical to its success (e.g., a top salesperson, a technical genius).Pays a lump sum to the business if a key employee dies or becomes critically ill.The business can cover lost profits, recruit a replacement, or clear debts.
Relevant Life CoverCompany directors and employees of small businesses.A company-paid death-in-service policy. The payout goes to the employee's family, tax-free.An allowable business expense, not a P11D benefit for the employee. Highly tax-efficient.
Executive Income ProtectionCompany directors and key employees.An income protection policy paid for by the business. Protects the director's personal income.Also an allowable business expense, making it a tax-efficient way to secure an income.
Shareholder ProtectionBusinesses with two or more shareholders/partners.Provides a lump sum for the remaining shareholders to buy the ill or deceased shareholder's shares.Ensures a smooth transition and that the remaining owners retain control of their business.

These policies are not just about protecting money; they're about protecting your vision, your team's jobs, and the future of your company. They are a hallmark of a well-run, resilient business.

More Than a Payout: How Insurers Are Becoming Your Wellness Partner

The insurance industry has undergone a quiet revolution. Modern protection policies are no longer just a piece of paper you file away and forget about. Insurers now recognise that it's in everyone's best interest to help you stay healthy.

Many of the UK's leading life, critical illness, and income protection policies now come bundled with a suite of incredible value-added benefits that you can use from day one, at no extra cost. These often include:

  • 24/7 Virtual GP: Access to a UK-based GP via phone or video call, often within hours. This is invaluable for getting quick advice, second opinions, or prescriptions without waiting weeks for an appointment.
  • Mental Health Support: Access to a set number of confidential counselling or therapy sessions per year.
  • Second Medical Opinion Services: If you're diagnosed with a serious condition, you can have your case reviewed by a world-leading expert to confirm the diagnosis and explore treatment options.
  • Physiotherapy and Rehabilitation Support: Services designed to help you recover from injury or illness faster.
  • Health and Wellness Apps: Discounts on gym memberships, fitness trackers, and access to nutrition and wellness programmes.

This shift towards proactive wellness is something we champion. It aligns perfectly with our belief that protection and prevention go hand-in-hand. That’s why, at WeCovr, we go a step further. We provide all our protection clients with complimentary access to CalorieHero, our exclusive AI-powered calorie and nutrition tracking app. We believe that empowering you with the tools to manage your health proactively is just as important as providing the financial safety net if things go wrong.

From Theory to Action: Your Step-by-Step Guide to Securing Your Future

Understanding the "why" is the first step. Taking action is what makes the difference. Here is a simple, practical guide to building your own protection blueprint.

Step 1: Assess Your Reality Get a clear picture of your finances. What are your essential monthly outgoings (mortgage/rent, bills, food)? Who depends on your income? What debts do you have? What are your future goals that require financial stability?

Step 2: Review What You Already Have Dig out your employment contract and see what sick pay and death-in-service benefits your employer provides. Understand their limitations. Do you have any old policies you took out years ago? Check if they are still fit for purpose.

Step 3: Define Your Budget Protection isn't about buying the most expensive plan; it's about finding the best value for your budget. Decide what you can comfortably afford each month. Even a small amount of cover is infinitely better than none at all. The cost is often far less than people think, especially when you're young and healthy.

Step 4: Speak to an Independent Expert This is the single most important step. A comparison website can give you a price, but it can't give you advice. It won't explain the nuances between policy definitions that could be the difference between a claim being paid or declined.

This is where a specialist broker like us at WeCovr becomes invaluable. We don't just sell policies; we help you conduct a thorough analysis of your unique situation, your goals, and your budget. We then search the entire market, comparing plans from all the major UK insurers to find the right combination of cover for you. Our expertise ensures you understand what you're buying and that you get a policy that will be there for you when it matters most.

Step 5: Be Completely Honest When applying for insurance, you will be asked questions about your health, lifestyle (smoking, alcohol), and occupation. It is absolutely vital that you answer these questions with 100% honesty and accuracy. Non-disclosure is one of the primary reasons claims are rejected. Giving the insurer a full picture upfront ensures your policy is valid and will pay out when you need it to.

Step 6: Review and Adapt Your protection plan is not static. It should evolve with your life. Plan to review your cover every few years, or after any major life event:

  • Getting married or entering a civil partnership
  • Having children
  • Taking on a bigger mortgage
  • Changing jobs or getting a significant pay rise
  • Starting a business

Your Legacy Isn't What You Leave, It's What You Build Today

Building a life of growth, meaning, and impact requires courage, vision, and hard work. But it also requires a solid, unshakeable foundation.

Strategic protection through Life Insurance, Critical Illness Cover, and Income Protection provides that foundation. It's the intelligent, proactive step that removes the fear of the unknown and frees you to focus on the possible. It’s the ultimate enabler, the silent partner in your success, the bedrock that makes you truly unstoppable.

In a world of increasing uncertainty, you have the power to create your own certainty. You have the ability to protect your income, your family, your business, and your future. Your legacy is not something that is defined after you are gone. It is forged in the wise, caring, and strategic decisions you make today.


I'm young and healthy, do I really need protection insurance?

This is the best possible time to get it. Premiums are based on your age and health at the time of application, so the younger and healthier you are, the cheaper your cover will be for the entire policy term. Securing a comprehensive policy now locks in that low price for decades. While you may be healthy today, statistics show that a life-altering illness can happen at any age, and being prepared provides a crucial financial safety net.

Isn't this type of insurance really expensive?

This is a common misconception. The cost of protection varies widely based on the type of cover, the amount, your age, health, and lifestyle. For example, a healthy 30-year-old could secure significant life insurance or income protection cover for the price of a few weekly coffees. A good adviser can help tailor a plan that provides meaningful protection within your specific budget.

What is the main difference between Income Protection and Critical Illness Cover?

They serve two different but complementary purposes. Critical Illness Cover pays a one-off, tax-free lump sum if you are diagnosed with a specific serious illness listed on the policy. You can use this money for anything you want (e.g., pay off the mortgage, adapt your home). Income Protection pays a regular, tax-free monthly income if you are unable to work due to *any* illness or injury (not just a specific list). It's designed to replace your salary and cover your ongoing living costs. Many people choose to have both.

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

Yes, it is often still possible. You must declare the condition fully during your application. The insurer might offer you cover on standard terms, increase the premium, or place an "exclusion" on the policy, meaning you wouldn't be able to claim for that specific condition. A specialist broker is essential in this situation, as they know which insurers are more likely to offer favourable terms for certain conditions.

Why should I use a broker like WeCovr instead of a comparison site?

Comparison sites are great for price, but they can't provide advice. Protection insurance is a complex product where the policy wording and definitions are critically important. A broker's job is to understand your personal circumstances and find the policy that is right for your needs, not just the cheapest. At WeCovr, we provide expert advice, help with the application process, and ensure the policy is written correctly (e.g., in trust to avoid inheritance tax). We are here to support you right through to the point of a claim, ensuring you have an expert in your corner when you need it most.

Sources

  • Office for National Statistics (ONS): Mortality and population data.
  • Association of British Insurers (ABI): Life and protection market publications.
  • MoneyHelper (MaPS): Consumer guidance on life insurance.
  • NHS: Health information and screening guidance.

Related tools

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

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Why life insurance and how does it work?

What is Life Insurance?

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

How does it work?

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

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

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

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

Questions to ask yourself regarding life insurance

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

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

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

Benefits offered by income protection, life and critical illness insurance

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

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

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

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

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

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

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

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

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

Types of life insurance policies

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

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

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

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

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

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

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

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

Important Fact!

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

Why is it important to get life insurance early?

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

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

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

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

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

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

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Any questions?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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