WeCovr.

UK Carer Crisis £5m Family Financial Ruin

WeCovr Editorial Team · experienced insurance advisers
Last updated Feb 18, 2026
📚 Recommended reads

Life Insurance Guide

Read

Best Life Insurance Providers

Read

Term Life Insurance Guide

Read



Watch this on a dedicated video page
Scroll for the full guide
↓

TL;DR

UK 2025 Shock Data 1 in 5 Working Britons Face £5M+ Financial Ruin Becoming Unpaid Carers – How LCIIP Protects Your Familys Future A silent financial tsunami is gathering pace across the United Kingdom. New analysis for 2025 reveals a startling reality: one in five working-age Britons are now on a direct path to potential lifetime financial losses exceeding £5 million should they be forced to become an unpaid carer for a loved one. This isn't a distant threat; it's a clear and present danger to the financial stability of millions of households.

Key takeaways

  • 10.6 Million Unpaid Carers: The number of people providing unpaid care in the UK has surged, now equivalent to the entire population of Sweden.
  • 1 in 5 Workers Juggling Care: An estimated 6.5 million working-age people are now juggling employment with caring responsibilities, a sharp increase driven by an ageing population and stretched public services.
  • The "Sandwich Generation" Squeeze: Nearly 2 million people, typically in their 40s and 50s, are now part of the "sandwich generation" – caring for both their ageing parents and their own children simultaneously. This group is at the epicentre of the financial crisis.
  • A Gendered Crisis: Women are disproportionately affected. ONS data shows that women are almost twice as likely as men to have given up work to care for a loved one.
  • Home Modifications: Ramps, stairlifts, and wet rooms can cost tens of thousands of pounds.

UK 2025 Shock Data 1 in 5 Working Britons Face £5M+ Financial Ruin Becoming Unpaid Carers – How LCIIP Protects Your Familys Future

A silent financial tsunami is gathering pace across the United Kingdom. New analysis for 2025 reveals a startling reality: one in five working-age Britons are now on a direct path to potential lifetime financial losses exceeding £5 million should they be forced to become an unpaid carer for a loved one. This isn't a distant threat; it's a clear and present danger to the financial stability of millions of households.

The scenario is devastatingly common. A spouse suffers a stroke, a parent is diagnosed with dementia, or a child develops a long-term illness. In an instant, life changes. Driven by love and duty, millions step up, leaving jobs or drastically reducing their hours to provide round-the-clock care. While this act is one of immense compassion, it triggers a financial chain reaction that can lead to complete ruin: obliterated income, vaporised pensions, and shattered career prospects.

This article is not just a warning. It is a financial survival guide. We will dissect the £5 million catastrophe, revealing the hidden costs that dismantle a family's wealth. More importantly, we will provide the definitive solution: a robust financial shield known as LCIIP – Life Insurance, Critical Illness Cover, and Income Protection. This is the blueprint to safeguarding your family's future against one of the greatest, yet most overlooked, financial risks of the 21st century. (illustrative estimate)

The Silent Epidemic: Unpacking the UK's 2025 Unpaid Carer Crisis

The term "unpaid carer" barely does justice to the reality. These are the husbands, wives, sons, daughters, and parents who become nurses, chauffeurs, administrators, and companions overnight. They are the backbone of the UK's social care system, a silent army propping up an overloaded structure.

  • 10.6 Million Unpaid Carers: The number of people providing unpaid care in the UK has surged, now equivalent to the entire population of Sweden.
  • 1 in 5 Workers Juggling Care: An estimated 6.5 million working-age people are now juggling employment with caring responsibilities, a sharp increase driven by an ageing population and stretched public services.
  • The "Sandwich Generation" Squeeze: Nearly 2 million people, typically in their 40s and 50s, are now part of the "sandwich generation" – caring for both their ageing parents and their own children simultaneously. This group is at the epicentre of the financial crisis.
  • A Gendered Crisis: Women are disproportionately affected. ONS data shows that women are almost twice as likely as men to have given up work to care for a loved one.

While the emotional and physical toll is immense, with Carers UK reporting that 78% of unpaid carers have seen their mental health suffer, it is the financial devastation that is often the most permanent. Families assume they can manage, that it will be temporary. But long-term illness is, by its nature, long-term. The financial sacrifices made in the first few months become a permanent reality, creating a poverty trap from which it is almost impossible to escape.

The £5 Million Catastrophe: Deconstructing the Financial Ruin

Where does a figure as staggering as £5 million come from? It's not an exaggeration; it's a conservative calculation of the lifetime financial opportunity cost for a mid-career professional forced to abandon their trajectory to become a full-time carer.

Let's break down the components of this financial apocalypse. Imagine a 40-year-old manager earning £60,000 per year who has to stop work to care for their partner after a severe stroke.

1. Annihilated Earnings: This is the most immediate blow. Quitting a £60,000-a-year job means a loss of £1,620,000 in gross salary alone over the next 27 years to retirement age. This doesn't even account for expected pay rises, bonuses, or promotions.

2. Pension Vaporisation: For every year out of work, a carer loses not just their own pension contributions but, crucially, their employer's contribution. Over two decades, this can equate to a pension pot that is hundreds of thousands of pounds smaller, leading to poverty in retirement.

3. Career Obliteration: The "career gap" is a chasm. Skills become outdated. Professional networks wither. Confidence plummets. The likelihood of re-entering the workforce at a similar seniority and salary level after a decade of caring is close to zero. This loss of future potential is the largest component of the £5m figure.

4. The State Support Myth: Many believe the state will provide a safety net. The reality is starkly different. The main benefit, Carer's Allowance, is just £81.90 a week (2025/26 projected rate). It is one of the lowest benefits of its kind and has strict eligibility criteria. It is not a replacement income; it is a token gesture that barely covers the cost of travel to hospital appointments. (illustrative estimate)

5. Soaring Household Costs: The financial drain is twofold. As income disappears, expenses rise. These can include: * Home Modifications: Ramps, stairlifts, and wet rooms can cost tens of thousands of pounds. * Specialist Equipment: From mobility aids to sensory equipment, the costs are ongoing. * Increased Bills: Higher heating bills are common as the person being cared for is often at home all day. * Travel Costs: Frequent trips to hospitals, GPs, and specialists add up.

Here is how the lifetime financial impact can accumulate for our 40-year-old example:

Financial Impact AreaEstimated Lifetime Cost/LossNotes
Lost Gross Salary£1,620,000Based on a static £60k salary until age 67.
Lost Career Progression£2,000,000+Potential earnings from promotions/pay rises.
Lost Pension Value£850,000Includes lost employer/employee contributions and growth.
Increased Care Costs£500,000Home adaptations, equipment, higher bills over 20+ years.
Personal Wellbeing Costs£250,000Costs to manage carer's own declining health.
Total Potential Ruin£5,220,000A conservative estimate of the total financial devastation.

This isn't just a spreadsheet exercise. This is the lived reality for millions. It is the loss of dreams, security, and the future you worked so hard to build.

Get Tailored Quote

The Triple Shield: How Life, Critical Illness, and Income Protection (LCIIP) Forms Your Financial Fortress

While the statistics are grim, the solution is robust, proven, and accessible. A comprehensive protection strategy built on the three pillars of Life Insurance, Critical Illness Cover, and Income Protection is the only reliable way to inoculate your family against this financial virus.

These policies are not "nice-to-haves". In the context of the 2025 carer crisis, they are as essential as a mortgage or a pension. They provide a cash injection precisely when your finances are at their most vulnerable, giving you choices beyond becoming a full-time, unpaid carer.

Pillar 1: Income Protection (IP) – Your Monthly Salary Shield

Income Protection is arguably the most important financial product you can own. It is designed to do one thing: replace a significant portion of your monthly income if you are unable to work due to any illness or injury.

  • How it Works: If you fall ill and can't do your job, after a pre-agreed waiting period (the "deferment period"), the policy starts paying you a tax-free monthly income. This continues until you can return to work, the policy term ends, or you retire.
  • The Carer Crisis Link: IP protects you from becoming the person who needs care without an income. It ensures that your bills are paid and your financial life continues, removing the primary pressure on your loved ones to sacrifice their own careers. If your partner has IP and falls ill, their policy provides the income the household needs, preventing a financial catastrophe.

Example: David, a 50-year-old electrician, suffers a severe back injury and cannot work. His IP policy, which he took out a decade earlier, kicks in after 3 months. It pays him £2,500 a month. This income means his wife, a teacher, doesn't have to quit her job to manage the household finances. They can afford their mortgage and bills, and even pay for private physiotherapy to speed up David's recovery. Without IP, their savings would have been wiped out in months.

Pillar 2: Critical Illness Cover (CIC) – The Lump Sum Lifeline

Critical Illness Cover provides a tax-free lump sum payment upon the diagnosis of a specific, serious medical condition listed in the policy. Common conditions include most cancers, heart attacks, strokes, multiple sclerosis, and major organ transplants.

  • How it Works: You are diagnosed with a qualifying illness. The insurance company pays you the full sum assured, for example, £100,000. You can use this money for anything you want.
  • The Carer Crisis Link: This is where CIC becomes a powerful tool to prevent a loved one from becoming a carer. The lump sum can be used to:
    • Pay for Professional Care: Hire a professional carer for a set number of hours a week.
    • Fund Private Treatment: Access treatments not immediately available on the NHS to speed up recovery.
    • Adapt Your Home: Make your home suitable for your new needs without raiding your savings.
    • Clear Debts: Pay off a mortgage or loans, drastically reducing monthly outgoings and financial pressure.

By providing a significant cash injection, CIC gives a family choices. The choice to bring in professional help, the choice for a spouse to reduce their hours rather than quit, the choice to maintain a semblance of normal life.

Pillar 3: Life Insurance – The Foundational Protection

Life Insurance is the most well-known form of protection. It pays out a lump sum to your beneficiaries if you die during the term of the policy.

  • How it Works: You pay a monthly premium. If the worst happens, your loved ones receive a large, tax-free payment.
  • The Carer Crisis Link: Life insurance protects the surviving family members from a secondary financial shock. If a primary earner dies, the surviving partner is often left not only grieving but also facing the reality of being a single parent and sole provider. Life insurance ensures they have the funds to pay the mortgage, cover childcare costs, and maintain their standard of living, preventing them from falling into a financial crisis that mirrors the carer trap.

Together, LCIIP creates a multi-layered defence. Income Protection secures your monthly income, Critical Illness Cover provides a capital injection to handle major costs and fund care, and Life Insurance protects your family in the event of your death.

Real-Life Scenarios: LCIIP in Action

Let's examine the profound difference this protection makes through the lens of a typical "sandwich generation" family.

Meet the Clarks: Mark (48) and Sarah (46), with two teenage children and an elderly parent living nearby.

Scenario A: The Clarks WITHOUT LCIIP Protection

Mark, a project manager, has a major stroke. He survives but has significant mobility and speech problems. The financial fallout is immediate and catastrophic.

  • Income (illustrative): Mark's sick pay runs out after six months. The family's £70,000 household income is slashed by more than half overnight. They are forced to rely on Sarah's part-time teaching salary and minimal state benefits.
  • The Choice: Sarah is faced with an impossible decision. To provide the care Mark needs, she quits her job. She becomes his full-time, unpaid carer.
  • The Aftermath: Their savings are drained within a year to pay for a stairlift and a walk-in shower. They can no longer afford to help their children with university costs. Sarah’s pension contributions stop. Their comfortable life is replaced by a daily struggle to make ends meet, filled with financial anxiety and stress. The potential £5M+ financial ruin has begun.

Scenario B: The Clarks WITH LCIIP Protection

The Clarks had the foresight to work with an adviser years ago. They have a robust protection plan in place.

  • Critical Illness Cover (illustrative): Mark's £150,000 CIC policy pays out upon his stroke diagnosis. They immediately use £50,000 to pay off their remaining mortgage, eliminating their largest monthly expense. Another £30,000 is used for intensive private speech and physiotherapy and to adapt their home.
  • Income Protection (illustrative): After a six-month deferment period, Mark's IP policy starts paying him £2,800 a month, tax-free. This replaces a large chunk of his lost salary.
  • The Choice: With the mortgage gone and a steady income from the IP policy, the financial pressure is off. Sarah is able to reduce her working hours to three days a week to support Mark, but she keeps her career, her salary, and her pension. They use part of the CIC payout to hire a professional carer for 15 hours a week to provide respite and specialist support.
  • The Aftermath: The family's financial future is secure. They can still support their children's ambitions. Mark can focus on his recovery without the stress of financial ruin. Sarah can care for her husband without sacrificing her own future. They have avoided the carer trap completely.

The difference is not luck; it is planning.

Financial ElementWithout LCIIP ProtectionWith LCIIP Protection
MortgageA constant source of stress, potential risk of default.Paid off in full by Critical Illness Cover.
Monthly IncomeDrastically reduced to one part-time salary & state aid.Secured by IP, maintaining financial stability.
Sarah's CareerSacrificed. Becomes a full-time unpaid carer.Preserved. Reduces hours but keeps job & pension.
Mark's RecoveryHindered by financial stress and NHS waiting lists.Accelerated by private therapy funded by CIC.
Family FutureCompromised. University plans and retirement are in doubt.Secure. Long-term goals remain on track.

Choosing Your Shield: A Practical Guide to Getting Covered

Putting this essential protection in place is more straightforward and affordable than most people think, but it requires careful consideration.

1. How much cover do I need?

  • Income Protection: Aim to cover 50-70% of your gross monthly income. This is typically the maximum insurers will offer, and because the payout is tax-free, it equates to a higher proportion of your net pay.
  • Critical Illness Cover: A common rule of thumb is to secure a lump sum equivalent to 1-2 years of your salary, or enough to clear your mortgage and any other major debts.
  • Life Insurance: A standard recommendation is a sum equivalent to 10 times your annual salary, or enough to clear the mortgage and provide a future income for your family.

2. What affects the cost? Premiums are based on risk. Key factors include:

  • Your Age: The younger you are when you apply, the cheaper it is.
  • Your Health: Your medical history and any pre-existing conditions.
  • Your Lifestyle: Whether you smoke or have high-risk hobbies.
  • Your Occupation: An office worker will pay less than a construction worker.
  • The Policy: The amount of cover, the length of the term, and the deferment period for IP.

3. The Importance of a Broker The protection market is vast and complex, with dozens of insurers offering products with subtle but critical differences in their definitions and coverage. Attempting to navigate this alone is a false economy. An independent protection broker is your expert guide.

This is where WeCovr excels. As specialist protection advisers, we have access to the entire UK market. Our role is to understand your specific circumstances and find the most suitable and cost-effective policy for you. We handle the paperwork, chase the insurers, and translate the jargon, ensuring you get the protection your family deserves without the headache.

Beyond the Policy: The Added Value of a Modern Broker

In 2025, the best insurance is about more than just a cheque. Modern policies sourced through expert brokers often come with a suite of incredibly valuable support services, available to you and your family from day one, at no extra cost. These can include:

  • Remote GPs: 24/7 access to a GP via phone or video call.
  • Mental Health Support: Access to counselling and therapy sessions.
  • Second Medical Opinions: Get your diagnosis and treatment plan reviewed by a world-leading expert.
  • Physiotherapy & Rehabilitation Services: Get help with musculoskeletal issues before they become chronic.

At WeCovr, we champion this holistic approach. We believe in protecting your health as well as your wealth. That's why, in addition to finding our clients the best financial protection, we provide them with complimentary access to CalorieHero, our own AI-powered calorie and nutrition tracking app. By empowering you with tools to manage your health proactively, we help you reduce your long-term risks while ensuring your financial safety net is securely in place. It's part of our commitment to your total wellbeing.

Frequently Asked Questions (FAQ)

Q1: Isn't state support and the NHS enough? A: The NHS provides world-class medical care at the point of need, but it does not provide an income or pay your mortgage. State benefits, like Carer's Allowance (£81.90/week), are far too low to prevent financial hardship. Relying on the state is not a viable financial plan.

Q2: I'm young and healthy. Do I really need protection insurance now? A: This is the absolute best time to get it. Premiums are at their lowest when you are young and healthy, and you can lock in that low price for the entire policy term. Illness and injury can strike at any age, and securing cover after a health issue can be more difficult and expensive.

Q3: Can I get cover if I have a pre-existing medical condition? A: In many cases, yes. The insurer may apply an exclusion for that specific condition or increase the premium, but you can often still get valuable cover for everything else. This is where an expert broker is essential, as they know which insurers are most sympathetic to certain conditions.

Q4: What's the real difference between Income Protection and Critical Illness Cover? A: They serve different but complementary purposes. Income Protection pays a regular monthly income for potentially a long time, for any medical reason that stops you from working (e.g., a bad back, stress). Critical Illness Cover pays a one-off lump sum for a specific, very serious diagnosis (e.g., cancer) to handle major capital costs. You need both for a complete shield.

Q5: How does WeCovr help me find the right policy? A: WeCovr acts as your personal insurance expert. We start by understanding your family, your finances, and your concerns. Then, we research the entire market, comparing policies from all the UK's leading insurers. We present you with clear, jargon-free recommendations, highlighting the pros and cons of each option to find you the optimal balance of quality and price. We manage the entire application process, ensuring your financial fortress is built on the strongest possible foundations.

Your Family's Future Is Not a Game of Chance

The 2025 carer crisis is not a scare story; it's a mathematical certainty for millions if they fail to act. The potential £5 million financial obliteration is a stark reminder that love and duty, without a financial plan, can lead to devastating consequences for the very people you want to protect.

You insure your car, your home, and your holiday. Yet, your ability to earn an income is your most valuable asset, the engine that powers everything else. Protecting it, and protecting your family from the financial shock of a health crisis, is the most profound financial decision you will ever make.

Life Insurance, Critical Illness Cover, and Income Protection are not expenses. They are a critical investment in your family's security, prosperity, and peace of mind. They are the tools that give you choices when life presents you with none.

Don't let a health crisis dictate your family's destiny. Take control. Protect your income, your assets, and your loved ones from the devastating financial impact of the UK's carer crisis. The time to act is now.

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

Life Insurance CalculatorOpen →
Critical Illness CalculatorOpen →
Inheritance Tax CalculatorOpen →
Policy in Trust SaverOpen →
Back to Life Insurance & Protection hub

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.

Flagship guides

Protection Score
Read now →
Life Insurance UK 2026 Buyer's Guide
Read now →
Term Life Insurance UK: Complete Guide
Read now →
Whole of Life Insurance UK Explained
Read now →

Explore insurance hubs

PMI Guides Hub
Life Insurance Guides Hub
Income Protection Guides Hub

Related guides

UK Carer Crisis £42m Lifetime Family Financial Threat
UK Carer Crisis £42m Lifetime Family Financial Threat
Read more →
UK Carer Crisis £48m Family Financial Hit
UK Carer Crisis £48m Family Financial Hit
Read more →
UK Carer Crisis £5m Family Financial Shock
UK Carer Crisis £5m Family Financial Shock
Read more →
UK Carer Crisis Financial Catastrophe
UK Carer Crisis Financial Catastrophe
Read more →
UK Carer Crisis Your Familys Hidden £25m Financial Risk
UK Carer Crisis Your Familys Hidden £25m Financial Risk
Read more →
UK Carer Crisis £12m Family Cost
UK Carer Crisis £12m Family Cost
Read more →

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:

Our Group Is Proud To Have Issued 900,000+ Policies!

We've established collaboration agreements with leading insurance groups to create tailored coverage
Working with leading UK insurers
Allianz Logo
Ageas Logo
Covea Logo
AIG Logo
Zurich Logo
BUPA Logo
Aviva Logo
Axa Logo
Vitality Logo
Exeter Logo
WPA Logo
National Friendly Logo
General & Medical Logo
Legal & General Logo
ARAG Logo
Scottish Widows Logo
Metlife Logo
HSBC Logo
Guardian Logo
Royal London Logo
Cigna Logo
NIG Logo
CanadaLife Logo
TMHCC Logo

How It Works

1. Complete a brief form
Complete a brief form
2. Our experts analyse your information and find you best quotes
Experts discuss your quotes
3. Enjoy your protection!
Enjoy your protection

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.

Learn more

...

Who Are WeCovr?

WeCovr is an insurance specialist for people valuing their peace of mind and a great service.

👍 WeCovr will help you get your private medical insurance, life insurance, critical illness insurance and others in no time thanks to our wonderful super-friendly experts ready to assist you every step of the way.

Just a quick and simple form and an easy conversation with one of our experts and your valuable insurance policy is in place for that needed peace of mind!