UK 2025 Shock Over 1 Million Britons Face a £100,000+

A financial earthquake is silently rumbling beneath the foundations of British families. By 2025, a staggering new reality will be unavoidable: over one million Britons are projected to face a personal lifetime social care funding shortfall exceeding £100,000. This isn't a distant threat; it's an imminent crisis that threatens to systematically dismantle hard-earned legacies, with analysis showing a potential inheritance erosion of £750,000 or more for families with significant property assets.

The dream of passing on a lifetime's work to children and grandchildren is being replaced by the nightmare of selling the family home to fund basic daily care. The promise of a dignified, independent later life is fading, shadowed by the prospect of becoming a financial and emotional burden on loved ones.

The state, once seen as the ultimate safety net, is demonstrably unable to plug this cavernous gap. The question is no longer if you will be affected, but how you will prepare.

This guide is not about fear; it's about foresight. We will unpack the stark realities of the UK's social care crisis, quantify the threat to your wealth and independence, and, most importantly, reveal how a robust shield of Life, Critical Illness, and Income Protection (LCIIP) insurance can be your most powerful tool in bridging the gap, preserving your legacy, and securing your future.

The headlines are becoming more frequent, the warnings more urgent. But to truly grasp the scale of the challenge, we must look beyond the noise and into the data. The demographic and economic forces at play have created a perfect storm set to make landfall in the very near future.

The Shocking Numbers Behind the Headlines

The statistics paint a sobering picture of a nation ageing rapidly without the infrastructure to support it.

The £100,000+ Gap: According to projections based on data from health analysts LaingBuisson and the Office for National Statistics (ONS), over a million people entering old age will accumulate care costs that surpass the £100,000 mark during their lifetime. This is a personal liability, not a state-covered expense.
An Ageing Population: The ONS projects that by 2043, nearly a quarter of the UK's population (24%) will be aged 65 or over. This represents 17.4 million people, a significant increase from 11.9 million in 2018. More people living longer means more people requiring care for longer.
The Rise of Chronic Conditions: It's not just about age. The prevalence of conditions that necessitate long-term care is increasing. The Alzheimer's Society reports that there are currently around 900,000 people with dementia in the UK, a figure projected to rise to 1.6 million by 2040. Each diagnosis represents a potential long-term care need.
Unpaid Carer Strain: The burden is already immense. ONS data reveals that in 2022/23, an estimated 1 in 7 adults in the UK were providing unpaid care. This places immense strain on the careers, finances, and mental health of the "sandwich generation," caught between caring for their parents and raising their own children.

A critical misunderstanding lies at the heart of many families' lack of preparation. Social care is not the NHS. The NHS provides medical treatment, which is free at the point of use. Social care provides support with daily living activities—what are often called Activities of Daily Living (ADLs).

This includes help with:

Washing and dressing
Eating and drinking
Mobility
Managing medication
Personal hygiene and toileting

Because this is not "healthcare," it is not free. It is means-tested, and the costs are substantial. The type of care required dictates the price, and it varies significantly across the country.

Care Type	Average Weekly Cost (UK)	Average Annual Cost (UK)
Domiciliary Care (At Home)	£800 - £1,500 (for 40hrs/week)	£41,600 - £78,000
Residential Care Home	£850	£44,200
Nursing Care Home	£1,100	£57,200

Costs are illustrative and can be higher in areas like the South East.*

A five-year stay in a nursing home could therefore conservatively cost over £286,000. For a couple who both require care, even sequentially, the financial impact can be devastating.

The Means Test Maze: Why the State Won't Bail You Out

Many people believe the government will step in when their savings run out. This is a dangerous assumption. Local authority funding is only available to those with very low levels of capital.

Here’s a simplified breakdown of the means-testing thresholds in England for 2025/26:

Upper Capital Limit (£23,250): If you have assets (savings, investments, and in most cases, your property) worth more than this, you are expected to fund the full cost of your care. You are a "self-funder."
Lower Capital Limit (£14,250): If your assets fall between the upper and lower limits, you will receive some local authority support, but you will still be expected to contribute on a sliding scale from your income and assets.
Below the Lower Limit: Only when your capital falls below £14,250 will the local authority take over funding, though you will still contribute most of your income (e.g., your pension).

Crucially, your home is usually included in this assessment if you move into a residential care home permanently and no one else (like a spouse or dependent relative) lives there. With the average UK house price well over £280,000, the vast majority of homeowners are automatically classified as self-funders from day one.

The much-discussed "Care Cap" (currently delayed) is not a panacea. Even if implemented, it only caps the amount you contribute to your personal care costs. It does not cap the significant "hotel costs" of living in a care home—your food, accommodation, and heating—which can easily amount to over £15,000 per year, a cost you would pay indefinitely.

The Ripple Effect: How the Care Gap Erodes Your Legacy and Independence

The financial cost of care is just the beginning. The true impact is felt in the erosion of family wealth, the loss of personal choice, and the immense emotional strain placed on everyone involved.

The £750,000+ Inheritance Vanishing Act

Let's consider a realistic scenario to understand how a substantial legacy can evaporate.

Meet Alan and Brenda, both aged 70.

Their Assets: They own their home in Surrey, valued at £850,000. They have combined savings and investments of £200,000. Their total estate is £1,050,000.
Their Dream: To leave a significant inheritance for their two children and four grandchildren, ensuring they have a head start in life.

The Unforeseen Reality:

At age 78, Alan has a severe stroke. He needs 24/7 support and moves into a local nursing home. The cost is £1,500 per week, or £78,000 per year.
As their joint assets are over £23,250, they are self-funders. They pay for Alan's care from their £200,000 savings. After just over 2.5 years, the cash is gone.
Brenda remains in the family home, so it is not yet included in the means test. However, they now have to use their pension income and consider releasing equity from the property to continue funding Alan's care.
Alan lives in the home for six years before he passes away. The total cost of his care has been £468,000.
Two years later, Brenda develops dementia. She is unable to live safely alone and also needs to move into a nursing home. Now, as the house is empty, its full value is counted in her means test.
To fund her care, the family home must be sold. Her care costs £70,000 per year. She lives for another four years. The cost is £280,000.

The Final Tally:

Total Cost of Care: £468,000 (Alan) + £280,000 (Brenda) = £748,000
Original Estate: £1,050,000
Remaining Inheritance: £302,000 (before legal fees and any Inheritance Tax).

The £750,000+ inheritance erosion is not a scaremongering headline; it is the mathematical reality for a middle-class family hit by long-term health conditions. The family home, the cornerstone of their wealth and memories, was sold not as a choice, but out of necessity.

"I Don't Want to Be a Burden": The Cost to Your Independence

The financial devastation is matched by a profound loss of control and dignity. When you are forced to rely on local authority funding, you lose the power of choice.

Loss of Choice: You may not get to choose your care home. You will be placed where the council has a contract and a bed is available, which may be far from family and friends.
Forced Sale of Home: The emotional trauma of selling a home filled with a lifetime of memories can be immense. It represents a final loss of independence.
Reliance on Family: Before the capital runs out, the pressure on children to contribute financially or provide hands-on care can be overwhelming. It can stall their careers, drain their own savings, and cause friction within the family.
Psychological Toll: The feeling of being a burden is a heavy one. The fear of running out of money and losing control over one's own life can lead to significant anxiety and depression in later years.

Your LCIIP Shield: Forging a Financial Defence Against the Care Crisis

While the government grapples with policy, you have the power to create your own solution. A thoughtfully constructed portfolio of Life, Critical Illness, and Income Protection (LCIIP) insurance acts as a financial fortress, providing the capital you need, when you need it most, to navigate a health crisis without bankrupting your future.

This isn't about buying a specific "long-term care insurance" product, which is now virtually extinct and prohibitively expensive in the UK market. It's about using flexible, mainstream protection products to create a bespoke financial safety net.

Critical Illness Cover: Your First Line of Defence

Critical Illness Cover (CIC) is arguably the most powerful tool for directly combating the immediate financial shock of a care-triggering event.

How it Works: It pays out a tax-free lump sum if you are diagnosed with one of a list of predefined serious medical conditions.

The key is that many of the most common reasons for needing social care are covered by comprehensive CIC policies.

Common CIC Claim Conditions Leading to Care	% of All CIC Claims (Typical)
Cancer	~60%
Heart Attack	~12%
Stroke	~7%
Multiple Sclerosis	~4%
Dementia/Alzheimer's	Varies (Crucial Definition)
Parkinson's Disease	Varies (Crucial Definition)

Source: Association of British Insurers (ABI) & individual insurer data.

How a CIC Payout Bridges the Care Gap: A lump sum of, for example, £150,000 could be used to:

Fund Immediate Care: Pay for a professional carer at home for several years, allowing you to stay in familiar surroundings.
Adapt Your Home: Install a stairlift, a wet room, or other accessibility features, prolonging your independence at home.
Preserve Your Savings: Use the insurance payout instead of your own capital, leaving your pension pot and investments untouched to grow for the future.
Access Private Treatment: Fund treatments or therapies not readily available on the NHS that could improve your long-term prognosis and reduce your care needs.
Give You Breathing Space: Provide the financial cushion to make unhurried, well-thought-out decisions about your future care, rather than being forced into a crisis sale of your home.

The quality of the policy is paramount, especially for conditions like dementia. This is where an expert adviser at WeCovr becomes invaluable, helping you compare policies not just on price, but on the quality and breadth of their definitions to ensure you are covered for the conditions that concern you most.

Income Protection: Securing Your Present to Protect Your Future

While CIC addresses a diagnosis, Income Protection (IP) safeguards your entire financial journey. It's the foundation upon which your future care fund is built.

How it Works: If you are unable to work due to any illness or injury (not just a specific list of critical ones), an IP policy pays you a regular, tax-free replacement income, often up to 60-70% of your gross salary. This continues until you can return to work, or until the end of the policy term (typically your retirement age).

The Link to Long-Term Care Planning: If a debilitating illness like Multiple Sclerosis or a serious back injury strikes you at 45, it could prevent you from working for the next 20 years. Without IP:

Your pension contributions would stop.
Your mortgage payments would be at risk.
You would have to burn through your savings just to cover daily bills.

You would arrive at retirement age with your assets already depleted, making you extremely vulnerable to future care costs. An IP policy ensures your financial plan stays on track. It allows you to continue paying your mortgage, saving for retirement, and building the very wealth that will support you in later life. It protects your future self by securing your working self.

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Life Insurance: The Ultimate Backstop for Your Legacy

Life insurance provides the final, and perhaps most crucial, piece of the puzzle: legacy restoration.

How it Works: It pays out a tax-free lump sum upon your death. While often used to clear a mortgage (Term Insurance), it has a powerful role in care planning, especially "Whole of Life" policies.

Using Life Insurance to Restore an Inheritance: Imagine Alan and Brenda from our earlier case study. They spent £748,000 of their estate on care costs.

Now, imagine an alternative scenario where, in their 50s, they had taken out a joint Whole of Life insurance policy for £500,000, placing it into a simple trust for their children.

The annual premiums would have been a manageable part of their financial planning.
When they passed away, the £500,000 insurance payout would go directly to their children, completely free of Inheritance Tax and bypassing the lengthy probate process.
This payout would effectively "refill" a huge portion of the estate that had been eroded by care fees.

This strategy separates the money for care (your estate) from the money for inheritance (the life insurance policy). It allows you to use your assets to live comfortably and fund any necessary care, safe in the knowledge that your children's legacy is protected and guaranteed.

Building Your Personalised Care Funding Strategy

There is no one-size-fits-all solution. The right strategy depends on your age, health, assets, and goals. Let's explore two common profiles.

Case Study 1: The Proactive Planners (Ages 45-55)

Profile: Sarah and Tom, both 50. Combined income of £120,000. Mortgage of £250,000 remaining. Two teenage children. Goals: Protect their income, clear the mortgage on death, and create a buffer for a future health shock without compromising their retirement savings.

Their LCIIP Shield:

Income Protection: Each takes out a policy to cover 60% of their salary, payable until age 67. This secures their lifestyle and ability to save if one can't work long-term.
Decreasing Term Life Insurance: A joint policy for £250,000 over their remaining mortgage term. This ensures the home is safe for the surviving partner and children.
Level Term Critical Illness Cover: They each take out £150,000 of cover until age 67. This sum is designed to cover 2-3 years of care costs or home adaptations, preventing an immediate raid on their pension funds.

Case Study 2: The Pre-Retirement Fortifiers (Ages 55-65)

Profile: David, 62, divorced. Mortgage-free home worth £600,000. Pension pot of £400,000. One adult son, Mark. Goals: Protect his estate from being decimated by care costs, ensuring Mark receives a substantial inheritance. He is particularly concerned about dementia.

His LCIIP Shield:

Whole of Life Insurance: A £350,000 policy written in trust for his son. This sum is calculated to cover a potential Inheritance Tax liability and replace a significant chunk of capital should it be needed for care.
Comprehensive Critical Illness Cover: A £100,000 policy with a leading definition for Dementia and Alzheimer's. He specifically seeks a policy that has a strong track record of paying out for these conditions. This is his "front line" care fund.

Why Expert Advice is Non-Negotiable

As these case studies show, building the right shield is a technical exercise. The difference between a policy that pays out and one that doesn't can come down to a single clause in a 50-page document.

This is why using a specialist, independent broker is not a luxury; it's a necessity. At WeCovr, we don't just sell policies. We act as your expert navigators. We take the time to understand your unique situation, compare plans from all the UK's major insurers, and scrutinise the policy wordings to find the cover that truly aligns with your needs and fears. We help you put policies in trust and ensure your plan is robust enough to weather the storm.

Beyond Insurance: A Holistic Approach to Protecting Your Future

While insurance is a powerful financial tool, it should be part of a wider, holistic plan.

Pensions & Savings: Continue to maximise your tax-efficient savings through ISAs and SIPPs. The more private capital you have, the more choices are available to you.
Lasting Power of Attorney (LPA): This is as crucial as a will. An LPA is a legal document that allows you to appoint someone you trust to make decisions on your behalf if you lose the mental capacity to do so yourself. There are two types: one for 'Health and Welfare' and one for 'Property and Financial Affairs'. Without one, your family faces a costly and slow court process to manage your affairs.
Your Property: Consider all your options in advance. Downsizing in early retirement could free up capital, but equity release should be approached with extreme caution and only after taking independent financial and legal advice.
Health and Wellbeing: The best way to reduce future care costs is to stay healthier for longer. A proactive approach to diet, exercise, and preventative health checks can make a huge difference. At WeCovr, we believe in supporting our customers' long-term wellbeing beyond just the policy. That's why we provide our customers with complimentary access to CalorieHero, our proprietary AI-powered calorie and nutrition tracking app, helping you take proactive control of your health today to build a more resilient future.

Frequently Asked Questions (FAQ)

Question	Answer
Isn't long-term care insurance available in the UK?	It is extremely rare, very expensive, and often has restrictive terms. Using a flexible combination of Life, Critical Illness, and Income Protection provides a more affordable and adaptable solution for most people.
Will my CIC policy definitely pay out for a condition requiring care?	It depends entirely on whether your diagnosed condition meets the specific definition in your policy document. This is why expert advice from a broker like WeCovr is vital to match the right policy to your concerns.
At what age should I start thinking about this?	As early as possible. Premiums are based on your age and health. The younger and healthier you are when you apply, the lower your premiums will be for the life of the policy. The best time was yesterday; the next best time is today.
How much cover do I actually need?	This is a highly personal calculation based on your assets, debts, income, and family circumstances. A specialist adviser will conduct a full 'fact-find' to recommend a level of cover tailored precisely to you.
Can I get cover if I have existing health conditions?	It's often possible, but it will be subject to medical underwriting by the insurer. There may be exclusions or an increased premium. Full and honest disclosure on your application is absolutely essential.
What's the difference between social care and NHS Continuing Healthcare (CHC)?	CHC is a package of care fully funded by the NHS for individuals with a "primary health need," meaning their need for care is primarily due to complex medical issues. The eligibility criteria are extremely high, and very few people qualify. Social care is for daily living support and is means-tested.

Conclusion: Take Control of Your Future Today

The UK's social care crisis is not a problem for another day; the foundations of your financial security and family legacy are at risk right now. Relying on the state is a gamble most will lose, and inaction is a choice with devastating consequences.

The facts are clear: a significant funding gap is a near certainty for a huge portion of the population, threatening to force the sale of family homes and erase hundreds of thousands of pounds from your inheritance.

But you are not powerless. By taking proactive steps, you can build a formidable defence. A well-structured LCIIP shield, combining the immediate cash injection of Critical Illness Cover, the foundational security of Income Protection, and the legacy-restoring power of Life Insurance, offers a powerful, flexible, and affordable strategy.

This is your opportunity to trade uncertainty for certainty, anxiety for peace of mind. It’s about ensuring that your later years are defined by dignity and choice, not by financial struggle. It’s about guaranteeing that the legacy you worked a lifetime to build is passed on to your loved ones, not consumed by care costs.

Don't wait for the crisis to arrive at your door. Take control. Protect your family. Secure your legacy. The first step is a simple conversation.

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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.

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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 FCA-authorised advisers. They are the specialists who do the searching and analysis helping people choose between various types of life insurance policies available in the market, including income protection, critical illness and other types of policies most suitable to the client's individual circumstances.

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

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

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

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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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