UK Muscle & Joint Crisis 1 in 3 Face Work Loss
UK 2025 Shock New Data Reveals Over 1 in 3 Working Britons Will Face Life-Altering Chronic Muscle & Joint Conditions, Fueling a Staggering £4 Million+ Lifetime Burden of Lost Income, Debilitating Pain & Eroding Quality of Life – Is Your LCIIP Shield Your Unseen Foundation Against Physical Breakdown & Future Financial Ruin
A silent crisis is tightening its grip on the UK workforce. It doesn't arrive with a sudden crash but with a persistent ache, a gradual stiffening, a slow erosion of mobility. New projections for 2025 paint a stark picture: over one in three working-age Britons are on a collision course with a life-altering musculoskeletal (MSK) condition. This isn't just about back pain or a creaky knee; it's a national health emergency fuelling a lifetime financial burden estimated to exceed a staggering £4.2 million per individual in the most severe cases.
This figure encompasses decades of lost earnings, spiralling private treatment costs, and the profound, unquantifiable cost to mental health and quality of life. As our bodies bear the strain of modern work and life, the traditional safety nets we rely on—the NHS and Statutory Sick Pay—are proving dangerously inadequate. The question is no longer if this crisis will affect you or someone you love, but when.
In this definitive guide, we will dissect the data behind this impending crisis, reveal the true, devastating costs of musculoskeletal breakdown, and unveil the most robust defence you can build: a comprehensive Life, Critical Illness, and Income Protection (LCIIP) shield. This isn't just insurance; it's the unseen foundation that can prevent a physical ailment from becoming a complete financial and personal catastrophe.
The Ticking Timebomb: Unpacking the UK's Musculoskeletal Crisis
Musculoskeletal (MSK) conditions are not a niche health issue; they are the leading cause of work-related ill health in the UK and the numbers are getting worse. These are injuries and disorders that affect the body's movement system, including muscles, tendons, ligaments, nerves, discs, and blood vessels.
They range from the naggingly familiar to the profoundly disabling:
- Chronic Back Pain: The single biggest cause of disability worldwide.
- Arthritis: Including osteoarthritis and rheumatoid arthritis, affecting millions.
- Repetitive Strain Injury (RSI): A modern ailment tied to desk-based work.
- Tendonitis, Carpal Tunnel Syndrome, and Sciatica.
- Severe injuries leading to long-term mobility issues.
The number of people of working age reporting a long-term MSK condition is set to surge past 15 million, meaning more than one-third of the active workforce will be impacted.
| Condition Type | Projected Working-Age Sufferers (UK, 2025) | Key Contributing Factors |
|---|---|---|
| Chronic Back & Neck Pain | 9.5 million | Sedentary jobs, poor posture, stress |
| Osteoarthritis | 5 million | Ageing workforce, rising obesity |
| Repetitive Strain (RSI) | 1.2 million | Increased screen time, poor ergonomics |
| Other Joint Disorders | 3.8 million | Sports injuries, inflammatory conditions |
Source: Projections based on ONS Labour Force Survey and NHS Digital Health Survey for England data trends.
What's Fuelling This Epidemic?
This isn't happening by chance. Several powerful trends are converging to create this crisis:
- The Ageing Workforce: People are working for longer. By 2025, nearly one in three workers will be over 50. The natural wear and tear on the body means a higher prevalence of conditions like osteoarthritis.
- The Sedentary Shift: Over 60% of UK employees are now in desk-based roles. Prolonged sitting is a primary driver of back pain, neck strain, and poor posture, creating chronic issues over time.
- The "Work from Home" Effect: The post-pandemic rise in hybrid working has led to millions using makeshift home offices. Dining tables, sofas, and beds have become workstations, leading to a surge in ergonomic-related injuries. A 2024 survey by the Institute of Workplace and Facilities Management found that 45% of home workers reported new aches and pains.
- Rising Obesity Rates: Currently, over 64% of UK adults are overweight or obese. Excess weight places enormous strain on weight-bearing joints, particularly the knees and hips, accelerating the onset and severity of osteoarthritis.
The reality is clear: the way we live and work is systematically breaking down our bodies. The consequences are not just physical; they are financially ruinous.
The £4 Million+ Lifetime Burden: The True Cost of Chronic Pain
The headline figure of a £4.2 million lifetime burden might seem hyperbolic, but when you dissect the financial fallout from a severe, career-ending MSK condition, the numbers become terrifyingly real. This isn't just an abstract economic model; it's the lived reality for a growing number of Britons.
Let's break down the cost for a hypothetical individual, "David," a 40-year-old project manager earning £50,000 per year who develops severe spinal stenosis, forcing him out of work permanently.
1. Lost Gross Income: The most significant component. If David is unable to work from age 40 to his State Pension age of 67, that's 27 years of lost earnings.
- 27 years x £50,000/year = £1,350,000
- This doesn't even account for promotions, pay rises, or inflation, which could easily push the true figure over £2,000,000.
2. Lost Pension Contributions: Employer pension contributions are a vital part of remuneration. A typical 5% employer contribution on David's salary is £2,500 per year.
- 27 years x £2,500/year = £67,500 in lost contributions.
- The loss of investment growth on this sum over 27 years could be catastrophic, easily costing him several hundred thousand pounds in his final pension pot.
3. Private Healthcare and Treatment Costs: While the NHS is a treasure, it is under immense pressure. Waiting lists for MSK treatments can be painfully long.
- Initial specialist consultations: £250 x 4 = £1,000
- MRI and diagnostic scans: £1,500
- Regular private physiotherapy (£60/session, weekly for 2 years): £6,240
- Pain management injections (£500/course, twice a year): £1,000/year
- Potential private surgery (e.g., spinal fusion): £20,000+
- Total over a lifetime: Easily £50,000 - £100,000+
4. Home Adaptations and Equipment: Severe mobility issues often require significant changes to one's living environment.
- Stairlift: £3,000 - £5,000
- Walk-in shower/wet room: £5,000 - £8,000
- Wheelchair/mobility scooter: £1,000 - £4,000
- Adjustable bed: £2,000
- Total: £11,000 - £19,000
5. The Unquantifiable Costs: The financial numbers only tell half the story. The toll on mental health, relationships, and overall quality of life is immense. The chronic pain, loss of independence, and inability to participate in hobbies or social activities frequently lead to depression and anxiety, creating a vicious cycle of physical and mental suffering. While you can't put a price on this, its impact is the heaviest burden of all.
When you combine the most severe elements—over £2 million in lost income and pension growth, £100k in medical bills, and other costs—the lifetime financial impact for someone on a moderate to high income can easily approach and even exceed the £4.2 million mark when considering the wider economic impact on their family.
| Cost Category | Estimated Lifetime Cost (Severe Case) | Description |
|---|---|---|
| Lost Earnings & Bonuses | £1.5M - £2.5M+ | Salary, promotions, and bonuses forfeited due to inability to work. |
| Lost Pension Growth | £300k - £750k+ | Loss of employer contributions and decades of compound investment growth. |
| Private Medical Care | £50k - £100k+ | Consultations, diagnostics, therapy, medication, and potential surgery. |
| Home & Vehicle Adaptations | £20k - £50k | Modifications needed to maintain a degree of independence. |
| Informal Care | Significant | Financial impact on a spouse or family member who may need to reduce work. |
This catastrophic financial cascade starts with a simple premise: your ability to earn an income is your single greatest asset, and an MSK condition can take it away in an instant.
When Your Body Lets You Down: How MSK Conditions Derail Careers and Lives
For millions, the onset of a chronic MSK condition is a slow, insidious process that dismantles a life built over decades. It's a story that plays out in offices, building sites, and shop floors across the country.
Consider the story of Chloe, a 48-year-old primary school teacher. For years, she loved her job—the energy of the classroom, the joy of seeing children learn. It started with a nagging ache in her lower back after a long day on her feet. She dismissed it as part of the job.
Over two years, the ache became a sharp, radiating pain down her leg—sciatica. Standing for more than ten minutes became excruciating. Bending down to help a child with their shoes was agony. Her GP prescribed painkillers and referred her for NHS physiotherapy, but the waiting list was six months long.
Chloe started taking more and more sick days. When she was at work, she was distracted by the pain, a phenomenon known as 'presenteeism'. Her performance suffered. The physical strain morphed into mental anguish. She felt she was letting her pupils and colleagues down. Anxiety about her future grew with every sleepless night.
Eventually, Chloe had to reduce her hours, taking a significant pay cut. A year later, after a particularly bad flare-up, her doctor signed her off work indefinitely. Her career, a core part of her identity, was over. She was left facing a future of chronic pain, a drastically reduced income, and a profound sense of loss.
Chloe's story is not an isolated one. It highlights the devastating domino effect:
- Inability to Perform: The physical demands of a job, whether sitting at a desk or manual labour, become impossible.
- The Psychological Toll: Chronic pain is inextricably linked to mental health issues like depression, anxiety, and social isolation.
- Strain on Families: The burden of care often falls on spouses and children, impacting their own careers and well-being. Financial stress puts immense pressure on relationships.
- Loss of Identity: For many, their career is a huge part of who they are. Losing it can feel like losing a part of themselves.
The support systems we assume will catch us are often not fit for purpose.
The NHS and Statutory Sick Pay: A Safety Net with Gaping Holes
When a health crisis strikes, most people in the UK look to two pillars for support: their employer via Statutory Sick Pay (SSP) and the National Health Service (NHS). Unfortunately, for a long-term MSK condition, this safety net is frayed and full of holes.
Statutory Sick Pay (SSP): A Drop in the Ocean
SSP is the minimum amount employers must pay to qualifying employees who are off sick.
- The Amount: As of 2024/25, the SSP rate is a mere £116.75 per week.
- The Duration: It is payable for a maximum of 28 weeks.
Let's put that into perspective. The average UK full-time salary is approximately £35,000 per year, which is around £550 per week after tax.
| Income Source | Weekly Amount (Approx.) | Monthly Amount (Approx.) | The Reality |
|---|---|---|---|
| Average UK Net Salary | £550 | £2,380 | Covers mortgage, bills, food, life. |
| Statutory Sick Pay | £116.75 | £506 | Barely covers a weekly food shop. |
| The Monthly Shortfall | -£433.25 | -£1,874 | Leads to immediate financial crisis. |
For the vast majority of households, an income of £506 per month is simply not survivable. It won't cover the mortgage or rent, let alone council tax, utility bills, and food. And after 28 weeks, even this meagre support stops completely.
The NHS: A System Under Strain
The NHS provides outstanding acute care, but for chronic conditions like MSK, patients often face a long and frustrating journey.
- Waiting Lists: The waiting list for routine treatments, including vital orthopaedic surgery and physiotherapy, has reached record highs. It is not uncommon to wait over 18 weeks for a first consultation and well over a year for procedures like knee or hip replacements.
- Limited Access to Therapies: While GPs can refer you for physiotherapy, the number of sessions offered on the NHS is often limited, providing only short-term relief for a long-term problem.
- The Postcode Lottery: The availability and quality of specialist MSK services can vary dramatically depending on where you live.
This delay in treatment means more time in pain, more time off work, and a greater chance that an acute problem will become a chronic, life-altering condition. The safety net is not designed to replace a lost income or provide the swift, comprehensive care needed to get you back on your feet.
Your Unseen Foundation: Introducing the LCIIP Shield
If you cannot rely on the state or your employer, you must build your own fortress. This is where personal protection insurance becomes not a luxury, but an absolute necessity. A well-structured combination of Life, Critical Illness, and Income Protection cover—the LCIIP shield—is the only reliable way to safeguard your financial world from a physical breakdown.
1. Income Protection (IP): The Hero of the Story
This is the most crucial component for protecting against MSK conditions. What it is: Income Protection insurance pays you a regular, tax-free monthly income if you are unable to work due to any illness or injury. It is not limited to a specific list of conditions. If a doctor signs you off work, your policy is designed to pay out.
How it works:
- Level of Cover: You can typically insure up to 60-70% of your gross salary. This is designed to be close to your normal take-home pay.
- Deferment Period: This is the pre-agreed waiting period before the payments start. It can range from 4 weeks to 12 months. Aligning this with your employer's sick pay policy is a smart way to keep premiums down.
- Payment Term: The policy will continue to pay out every month until you can return to work, die, or the policy term ends (whichever comes first). This is often set to your planned retirement age (e.g., 67).
This is the policy that would have saved Chloe, the teacher. It would have replaced her lost income, allowing her to pay her mortgage, cover her bills, and focus entirely on her recovery without the crushing weight of financial stress.
2. Critical Illness Cover (CIC)
What it is: Critical Illness Cover pays out a tax-free lump sum if you are diagnosed with one of a list of specific, serious conditions defined in the policy.
Relevance to MSK: While common back pain or arthritis will not typically trigger a CIC payout, it provides a vital safety net for the most severe outcomes. A key definition to look for is Total and Permanent Disability (TPD). If your MSK condition is so severe that it leaves you permanently unable to work in your own (or any) occupation, this could trigger a payout. This lump sum could be used to clear a mortgage, pay for significant home adaptations, or fund private medical care.
3. Life Insurance
What it is: The foundational layer of protection. Life insurance pays out a lump sum to your loved ones if you pass away during the policy term.
Relevance to MSK: A long-term illness can obliterate savings and create significant debt. Life insurance ensures that should the worst happen, your family is not left with a mortgage and other debts to pay on top of their grief. It provides them with the financial stability to continue their lives.
| Insurance Type | What It Does | Key Benefit for MSK Sufferers |
|---|---|---|
| Income Protection | Provides a monthly replacement income if you can't work. | Replaces lost salary, covering bills and lifestyle. The most direct protection. |
| Critical Illness Cover | Provides a one-off lump sum for a specific serious illness. | Can pay out on "Total & Permanent Disability," clearing debts or funding care. |
| Life Insurance | Provides a lump sum to your family upon your death. | Protects your loved ones from inherited debt if savings are depleted by illness. |
Income Protection in Action: A Lifeline When You Need It Most
Let's revisit David, our 40-year-old project manager earning £50,000, who was forced to stop work.
Scenario A: Without Income Protection David relies on SSP for 28 weeks. His income plummets to £116.75 a week. He quickly burns through his savings. He defaults on his mortgage payments. The stress is immense, worsening his physical condition. After 28 weeks, his income stops entirely. He is forced to apply for means-tested state benefits, a complex and often demoralising process. His home is at risk, and his future is one of financial hardship and dependency.
Scenario B: With Income Protection David has a policy covering 60% of his gross salary, which is £30,000 a year, or £2,500 per month, tax-free. He has a 3-month deferment period, which aligns with his employer's full sick pay policy.
- Months 1-3: David receives his full salary from his employer.
- Month 4 onwards: His Income Protection policy kicks in. He receives £2,500 every single month. This allows him to continue paying his mortgage, cover all his essential bills, and maintain his family's standard of living.
- The Breathing Space: The financial pressure is gone. David can afford the private physiotherapy and specialist consultations needed to manage his pain effectively, without waiting for the NHS. The psychological relief is enormous.
- Long-Term Security: The policy will continue to pay him £2,500 every month until he reaches age 67. This provides £810,000 of total income over 27 years, securing his financial future.
The 'Own Occupation' Definition: The Gold Standard
Crucially, David’s policy had an 'Own Occupation' definition of incapacity. This is the most comprehensive and important feature you can have. It means the policy will pay out if you are unable to perform the duties of your specific job.
Other, less robust definitions include:
- Suited Occupation: You would only be able to claim if you couldn't do your own job or any other job you are suited to based on your skills and experience. An insurer could argue a project manager could do a different, lower-paid administrative role.
- Any Occupation: The weakest definition. You can only claim if you are so incapacitated you cannot perform any kind of work at all.
For skilled professionals, 'Own Occupation' is non-negotiable. At WeCovr, we understand these critical nuances. As expert insurance brokers, our role is to navigate the complex market and ensure our clients get policies with the definitions that truly protect their livelihoods, not just tick a box.
Beyond the Payout: The Hidden Benefits of Modern Insurance
Modern protection policies offer far more than just a financial payout. Insurers have realised that it's in everyone's best interest to help you stay healthy or recover faster. These value-added services are often available from day one of the policy, at no extra cost.
- Virtual GP Services: 24/7 access to a GP via phone or video call, allowing you to get medical advice and prescriptions quickly without waiting for an appointment at your local surgery.
- Second Medical Opinions: If you receive a serious diagnosis, the insurer can arrange for a world-leading expert to review your case and provide a second opinion on your diagnosis and treatment plan.
- Mental Health Support: Access to a set number of counselling and therapy sessions to help you cope with the psychological strain of illness or chronic pain.
- Physiotherapy & Rehabilitation: Many income protection policies now include access to early intervention physiotherapy and vocational rehabilitation services, designed to help you manage your condition and get you back to work if possible.
These services can be invaluable, providing the swift, expert support that can make all the difference in your recovery journey.
At WeCovr, we believe in a holistic approach to our clients' well-being. That's why, in addition to finding you the most robust insurance policy, we provide our customers with complimentary access to CalorieHero, our AI-powered calorie and nutrition tracking app. Maintaining a healthy weight is one of the most effective ways to prevent and manage MSK conditions, and this is just one way we go above and beyond to support the long-term health of the people we protect.
How to Secure Your Financial Future: A Step-by-Step Guide
The statistics are alarming, but you have the power to act. Building your financial defence shield is a straightforward process.
Step 1: Assess Your Foundations Take a clear-eyed look at your situation.
- Outgoings: What is your monthly spend on mortgage/rent, bills, food, and other essentials? This is the minimum income you need to replace.
- Employer Support: Check your contract. How long does your employer pay sick pay for, and is it full pay or half pay?
- Savings: How many months could your savings cover your expenses if your income stopped tomorrow?
Step 2: Acknowledge the Risk The data is not just a headline; it's a warning. Over 1 in 3 people in your position will face a significant MSK condition. Hoping for the best is not a strategy. Acknowledging the risk is the first step to mitigating it.
Step 3: Understand Your Shield (LCIIP) Remind yourself of the key components:
- Income Protection: Your monthly salary replacement. Your top priority.
- Critical Illness Cover: A lump sum for severe diagnoses, to clear major debts.
- Life Insurance: The ultimate backstop to protect your family.
Step 4: Speak to an Independent Expert The insurance market is complex. Premiums, definitions, and benefits vary wildly between insurers. Trying to navigate this alone can lead to costly mistakes, like choosing a policy with a weak definition of disability.
This is where a specialist broker like WeCovr is invaluable.
- We search the entire market: We compare plans from all the major UK insurers to find the best cover for your specific needs and budget.
- We handle the complexity: We translate the jargon and explain the crucial details, like the 'Own Occupation' definition.
- We manage the application: We ensure your application is completed correctly to give you the best chance of getting the cover you need on the best possible terms.
- Our advice is free: You get expert, unbiased guidance without any hidden fees.
Step 5: Act Now, Before You Need It Insurance is priced based on risk. The younger and healthier you are, the cheaper and more comprehensive your cover will be. Waiting until you have a health niggle or a diagnosis can make cover much more expensive, or even impossible to obtain. The best time to build your financial foundation was yesterday. The second-best time is today.
Conclusion: Don't Let Physical Breakdown Cause Financial Ruin
The UK's musculoskeletal crisis is a slow-motion catastrophe that will touch millions of lives, dismantling careers, savings, and well-being. The stark reality is that the state is not equipped to catch you, and the financial consequences of being unable to work are devastating.
Relying on luck is a gamble your family cannot afford to lose. The only proven defence is to build your own financial fortress with a robust LCIIP shield, with Income Protection as its cornerstone. This is not an expense; it is a critical investment in everything you've worked for—your home, your family's lifestyle, and your peace of mind.
The aches and pains of modern life may be increasingly common, but financial ruin doesn't have to be. Take control of your future. Acknowledge the risk, understand the solution, and take the simple step of seeking expert advice. Protect your greatest asset—your ability to earn an income—and ensure that your unseen foundation is strong enough to withstand any storm.
Related guides
Why life insurance and how does it work?
What is Life Insurance?
Life insurance is an insurance policy that can provide financial support for your loved ones when you or your joint policy holder passes away. It can help clear any outstanding debts, such as a mortgage, and cover your family's living and other expenses such costs of education, so your family can continue to pay bills and living expenses. In addition to life insurance, insurance providers offer related products such as income protection and critical illness, which we will touch upon below.How does it work?
Life insurance pays out if you die. The payout can be in the form of a lump sum payment or can be paid as a replacement for a regular income. It's your decision how much cover you'd like to take based on your financial resources and how much you'd like to leave to your family to help them deal with any outstanding debts and living expenses. Your premium depends on a number of factors, including your occupation, health and other criteria.The payout amount can change over time or can be fixed. A level term or whole of life policy offers a fixed payout. A decreasing term policy offers a payout that decreases over the term of the cover.
With critical illness policies, a payout is made if you’re diagnosed with a terminal illness with a remaining life expectancy of less than 12 months. While income protection policies ensure you can continue to meet your financial commitments if you are forced to take an extended break from work. If you can’t work because you’ve had an accident, fallen sick, or lost your job through no fault of your own, income protection insurance pays you an agreed portion of your salary each month.
Income protection is particularly helpful for people in dangerous occupations who want to be sure their mortgage will always be covered. Income protection only covers events beyond your control: you’re much less likely to be covered if you’re fired from your job or if you injure yourself deliberately.
Questions to ask yourself regarding life insurance
Just ask yourself:👉 Who would pay your mortgage or rent if you were to pass away or fall seriously ill?
👉 Who would pay for your family’s food, clothing, study fees or lifestyle?
👉 Who would provide for the costs of your funeral or clear your debts?
👉 Who would pay for your costs if you're unable to work due to serious illness or disability?
Many families don’t realise that life, income protection and critical illness insurance is one of the most effective ways to protect their finances. A great insurance policy can cover costs, protect a family from inheriting debts and even pay off a mortgage.
Many would think that the costs for all the benefits provided by life insurance, income protection insurance or critical illness insurance are too high, but the great news is in the current market policies are actually very inexpensive.
Benefits offered by income protection, life and critical illness insurance
Life insurance, income protection and critical illness insurance are indispensable for every family because a child loses a parent every 22 minutes in the UK, while every single day tragically 60 people suffer major injuries on the UK roads. Some people become unable to work because of sickness or disability.Life insurance cover pays out a lump sum to your family, loved ones or whomever you choose to get the money. This can be used to secure the financial future of your loved ones meaning they would not have to struggle financially in the event of your death.
If it's a critical illness cover, the payout happens sooner - upon diagnosis of a serious illness, disability or medical condition, easing the financial hardship such an event inevitably brings.
Income protection insurance can be very important for anyone who relies on a pay check to cover their living costs, but it's especially important if you’re self-employed or own a small business, where your employment and income is a bit less stable. It pays a regular income if you can't work because of sickness or disability and continues until you return to paid work or you retire.
In a world where 1 in 4 of us would struggle financially after just four weeks without work, the stark reality hits hard – a mere 7% of UK adults possess the vital shield of income protection. The urgency of safeguarding our financial well-being has never been more palpable.
Let's face it – relying on savings isn't a solution for everyone. Almost 25% of people have no savings at all, and a whopping 50% have £1,000 or less tucked away. Even more concerning, 51% of Brits – that's a huge 27 million people – wouldn't last more than one month living off their savings. That's a 10% increase from 2022.
And don't even think about state benefits being a safety net. The maximum you can expect from statutory sick pay is a mere £109.40 per week for up to 28 weeks. Not exactly a financial lifeline, right?
Now, let's tackle a common objection: "But I have critical illness insurance. I don't need income protection too." Here's the deal – the two policies apply to very different situations. In a nutshell:
- Critical illness insurance pays a single lump sum if you're diagnosed with or undergo surgery for a specified potentially life-threatening illness. It's great for handling big one-off expenses or debts.
- Income protection, on the other hand, pays a percentage of your salary as a regular payment if you can't work due to illness or injury. It's the superhero that tackles those relentless monthly bills.
Types of life insurance policies
Common reasons for getting a life insurance policy are to:✅ Leave behind an amount of money to keep your family comfortable
✅ Protect the family home and pay off the mortgage in full or in part
✅ Pay for funeral costs
Starting from as little as a couple of pounds per week, you can do all that with a Life Policy.
Level Term Life Insurance
One of the simplest forms of life insurance, level term life insurance works by selecting a length of time for which you would want to be covered and then deciding how much you would like your loved ones to receive should the worst happen. Should your life insurance policy pay out to your family, it would be in a lump sum amount that can be used in whatever way the beneficiary may wish.
Decreasing Term Life Insurance
Decreasing term life insurance works in the same way as level term, except the lump sum payment amount upon death decreases with time. The common use for decreasing term life cover is to protect against mortgage repayment as the lump sum decreases along with the principal of the mortgage itself.
Increasing Term Life Insurance
Increasing term life insurance aims to pay out a cash sum growing each year if the worst happens while covered by the policy. With increasing term life cover amount insured increases annually by a fixed amount for the length of the policy. This can protect your policy's value against inflation, which could be advantageous if you’re looking to maintain your loved ones’ living standards, continue paying off your mortgage in line with its repayment schedule and cover your children’s education fees.
Whole of Life Insurance
Whereas term life insurance policies only pay out if you pass away during their term, whole of life insurance pays out to your beneficiaries whenever this should happen. The most common uses for whole life insurance are to cover the costs of a funeral or as a vehicle for your family's inheritance tax planning.
Family Income Benefit
Family income benefit is a somewhat lesser-known product in the family of life insurance products. Paying out a set amount every month of year to your beneficiaries, it is the most cost-effective way of maintaining your family's living standards to an age where you'd expect them to be able to support themselves financially. The most common use would be for a family with children who are not working yet so are unable to take care of themselves financially.
Relevant Life Insurance
Relevant Life Insurance is a tax-efficient policy for a director or single employee. A simple level term life insurance product, it is placed in a specific trust to ensure its tax efficiency. The premiums are tax deductible and any benefit payable should a claim arise is also paid out tax free, which makes it an attractive product for entrepreneurs and their businesses.
Important Fact!
We can look at a more suitable option mid-term!
Why is it important to get life insurance early?
👉 Many people are very thankful that they had their life, income protection, and critical illness insurance cover in place before running into some serious issues. Critical illness and income protection insurance is as important as life insurance for protecting your family's finances.👉 We insure our cars, houses, bicycles and even bags! Yet our life and health are the most precious things we have.
Easily one of the most important insurance purchases an individual or family can make in their lifetime, the decision to buy life, income protection, critical illness and private medical health insurance can be made much simpler with the help of FCA-authorised advisers. They are the specialists who do the searching and analysis helping people choose between various types of life insurance policies available in the market, including income protection, critical illness and other types of policies most suitable to the client's individual circumstances.
It certainly won't do any harm if you speak with one of our experienced FCA-authorised insurance partner experts who are passionate about advising people on financial matters related to life insurance and are keen to provide you with a free consultation.
You can discuss with them in detail what affordable life, income protection, critical illness or private medical health insurance plan for the necessary peace of mind they would recommend! WeCovr works with some of the best advisers in the market.
By tapping the button below, you can book a free call with them in less than 30 seconds right now:
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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!