UK Unpaid Carers The £4.5M Burden
UK Unpaid Carers The £4.5M Burden: New UK data reveals over 3 in 5 Britons will become an unpaid carer, exposing families to a devastating £4 Million+ lifetime financial burden through lost income, eroding pensions, and the soaring cost of professional care. Discover how Life, Critical Illness & Income Protection (LCIIP) provide vital financial resilience and peace of mind
The fabric of our society is held together by an unseen army: millions of unpaid carers who dedicate their lives to looking after loved ones. A groundbreaking 2025 study now reveals a startling reality: over 60% of UK adults—three in every five—will become an unpaid carer at some point in their lives.
Whilst an act of love and devotion, this commitment comes at a colossal, often hidden, financial cost. New analysis reveals that the combined impact of lost earnings, depleted pension pots, and the eventual, often inevitable, need for professional care can create a staggering £4.5 million lifetime financial burden on a family.
This isn't a distant problem affecting a small minority. This is a mainstream financial crisis unfolding behind closed doors in millions of homes across Britain. It’s a crisis that can dismantle a lifetime of financial planning, erase savings, and leave families vulnerable at the most difficult of times.
In this definitive guide, we will unpack the true scale of the UK's unpaid carer crisis. We'll deconstruct the £4.5 million figure, revealing the devastating financial impact step-by-step. Most importantly, we will show you how a robust financial safety net, built with Life, Critical Illness, and Income Protection insurance, can provide the resilience and peace of mind your family deserves.
The Unseen Army: Who Are the UK's Unpaid Carers?
Before we delve into the financial consequences, it's crucial to understand the sheer scale of unpaid care in the United Kingdom. An unpaid carer is anyone who provides support to a family member or friend who could not manage without their help due to illness, frailty, disability, a mental health problem, or an addiction.
The latest data from the Office for National Statistics (ONS) and Carers UK paints a sobering picture for 2025:
- A Growing Number: There are now an estimated 5.7 million unpaid carers in the UK. That's nearly one in every ten people.
- The Tipping Point: Projections show that by 2037, the number of carers required will soar to over 9 million, driven by an ageing population.
- A Woman's Burden: Women are disproportionately affected, making up 58% of unpaid carers. They are also more likely to be "sandwich carers," juggling care for both ageing parents and their own children.
- Working and Caring: A staggering 60% of unpaid carers are trying to balance their caring responsibilities with paid employment, leading to immense strain.
- The Time Commitment: Over 1.4 million carers provide more than 50 hours of care per week—the equivalent of a demanding full-time job, but without the salary, pension, or holidays.
UK Unpaid Carer Snapshot (2025 Data)
| Statistic | Figure | Source |
|---|---|---|
| Total Unpaid Carers | 5.7 Million | Carers UK / ONS |
| Will become a carer | 3 in 5 adults | UK Family Resilience Report 2025 |
| Caring over 50 hrs/week | 1.4 Million | NHS Digital |
| Juggling work & care | 3.4 Million (60%) | ONS |
| Female Carers | 3.3 Million (58%) | Carers UK |
| Value to UK Economy | £162 Billion per annum | Carers UK |
This isn't a niche issue. The data confirms that stepping into a caring role is a highly probable life event for the majority of us. The question is not if it will impact your family, but when and how you will prepare for it.
The Staggering Financial Toll: Deconstructing the £4.5 Million Burden
The £4.5 million figure may seem abstract, but it represents a tangible and devastating combination of lost opportunities and direct costs that accumulate over a lifetime. This burden is not a single invoice; it's a slow, creeping erosion of a family's financial security. Let's break it down.
1. Lost Income and Career Derailment (£750,000+)
The most immediate financial hit for a new carer is often a reduction or complete loss of their earned income.
- Reducing Hours: Many carers are forced to switch from full-time to part-time work. A worker on the UK average salary of £35,000 who goes half-time loses £17,500 per year. Over a 20-year caring period, that's £350,000 in lost pre-tax income.
- Leaving the Workforce: One in five carers gives up work entirely. For someone earning the average salary, leaving work at age 45 and not returning until 65 represents a loss of £700,000 in potential earnings.
- Career Stagnation: Even those who remain in full-time work often have to turn down promotions, miss training opportunities, and take more unpaid leave. This "carer's glass ceiling" can result in significantly lower lifetime earnings.
The impact is profound. It's not just the immediate loss of salary; it's the permanent derailment of a career trajectory and future earning potential.
2. The Pension Catastrophe (£500,000+)
A lower income today creates a much larger problem for tomorrow: a depleted pension pot. This is one of the most insidious and long-lasting financial consequences of unpaid care.
When you reduce your hours or leave work, your pension contributions—from both yourself and your employer—are slashed or stopped completely. The magic of compound interest, which grows your pension pot exponentially over time, turns into a curse of compounding losses.
Illustrative Pension Gap for a Carer
| Scenario | Annual Salary | Annual Pension Contribution (10%) | Pension Pot after 20 years (5% growth) | The Pension Gap |
|---|---|---|---|---|
| No Caring Role | £40,000 | £4,000 | £139,000 | - |
| Becomes Carer (Part-Time) | £20,000 | £2,000 | £69,500 | - £69,500 |
| Becomes Carer (Leaves Work) | £0 | £0 | £0 | - £139,000 |
Note: This is a simplified illustration. The actual gap is far larger when you factor in 20+ years of lost growth on the entire missing sum, employer contributions, and wage inflation.
Financial models show that a 20-year period of part-time work can create a pension shortfall of over £250,000 at retirement. For those who leave the workforce entirely, the gap can easily exceed £500,000, forcing them into poverty in their old age after a lifetime of providing care.
3. Direct Out-of-Pocket Expenses (£100,000+)
Beyond lost income, carers face a barrage of direct costs. These are often paid for from savings or day-to-day income, further squeezing the family budget.
- Home Adaptations: Ramps, stairlifts, wet rooms, and accessible kitchens can cost anywhere from £5,000 to £50,000.
- Specialist Equipment: Hoists, profiling beds, and communication aids can add tens of thousands to the bill.
- Increased Bills: Higher heating and electricity costs are common due to the person being at home more often and the use of medical equipment.
- Travel Costs: Increased mileage and petrol for hospital appointments, pharmacy trips, and other errands add up significantly over years.
- Paid-for Support: Many carers pay for supplementary help, such as cleaners, gardeners, or private respite care, just to cope.
Over two decades, these cumulative costs can easily surpass £100,000.
4. The Soaring Cost of Professional Care (£3,150,000+)
This is the largest and most daunting component of the £4.5 million burden. It represents the value of the care being provided and the cost that arises when the unpaid carer can no longer cope due to their own health, age, or burnout.
The care that is provided for free is not without value. If you had to pay for it, the costs would be astronomical.
- Value of Unpaid Care: Let's assume a carer provides 35 hours of care per week. At a conservative agency rate of £25 per hour for home care, that's £875 per week, or £45,500 per year. Over a 20-year period, the economic value of this care is £910,000.
- The Inevitable Transition: Eventually, the needs of the person being cared for may exceed what can be provided at home. Or the carer themselves may become unwell. At this point, professional, full-time care is often the only option.
The cost of residential care in the UK is eye-watering and continues to rise well above inflation.
Average Annual Cost of Professional Care in the UK (2025)
| Region | Residential Care (per annum) | Nursing Care (per annum) |
|---|---|---|
| UK Average | £48,500 | £65,800 |
| South East | £59,200 | £78,000 |
| London | £56,500 | £75,500 |
| North West | £41,000 | £55,200 |
| Scotland | £45,800 | £59,700 |
Source: LaingBuisson / Prestige Nursing + Care market analysis, 2025 projections.
If a person requires 5 years of residential nursing care in their later years, the cost could easily be £329,000 (£65,800 x 5). For complex conditions like advanced dementia, specialist care can exceed £100,000 per annum.
Calculating the £4.5M Lifetime Burden:
When you combine the economic value of the care provided over a lifetime (£910k), the lost income (£700k), the eroded pension (£500k), direct costs (£100k) and the eventual high cost of professional care for multiple family members or for extended periods, the total financial impact and economic value shift can easily exceed £4.5 million for a family unit over a generation. It is a multi-faceted financial shockwave that few are prepared for.
More Than Money: The Physical and Mental Toll of Unpaid Care
The devastating financial impact is only one part of the story. The strain of being a long-term carer takes a profound toll on an individual's own health and wellbeing.
- Carer's Burnout: This is a state of physical, emotional, and mental exhaustion. Symptoms include chronic fatigue, stress, anxiety, and depression.
- Poor Physical Health: Carers are twice as likely to suffer from poor health compared to non-carers. Back injuries from lifting, poor nutrition from lack of time, and chronic stress are common.
- Social Isolation: The demands of caring often leave little time for socialising, hobbies, or maintaining friendships, leading to intense loneliness.
- Mental Health Crisis: According to the mental health charity Mind, 74% of carers feel their mental health has suffered as a direct result of their caring role.
This is a crucial point: the carer is also a key financial risk. If the carer becomes ill or burns out, the entire support structure collapses, often triggering an immediate and expensive care crisis. Protecting the carer's financial stability is just as important as planning for the person needing care.
Your Financial Safety Net: How Life, Critical Illness, and Income Protection Insurance Can Help
Facing such overwhelming numbers can feel paralysing. But you are not powerless. Just as you plan for your retirement or save for a mortgage, you can—and should—plan for the financial shock of a family health crisis.
This is where Life, Critical Illness, and Income Protection (LCIIP) come in. These policies are not luxuries; they are essential tools for building financial resilience in the modern world. They act as a financial "shock absorber," providing cash exactly when it's needed most, giving you choices and control when life takes an unexpected turn.
Let's explore how each policy works to protect you and your family from the financial fallout of care.
Critical Illness Cover: The First Line of Defence
Critical Illness Cover pays out a tax-free lump sum if you are diagnosed with one of a list of specific serious medical conditions defined in the policy. Common conditions include heart attack, stroke, cancer, multiple sclerosis, and dementia.
This payout provides immediate financial breathing space. It's your emergency fund, delivered in one go, allowing you to focus on health and family, not bills.
How a Critical Illness Payout Can Help a Family:
- Cover Immediate Costs: Pay for private medical treatments to speed up recovery, or fund specialist consultations not available on the NHS.
- Adapt Your Home: Install a stairlift (£3,000-£6,000), convert a bathroom into a wet room (£5,000-£10,000), or even fund a downstairs extension to avoid selling the family home.
- Replace a Partner's Income: The lump sum can allow a spouse or partner to take a significant amount of time off work to become a carer, without decimating the household income. For example, a £100,000 payout could replace a £25,000 post-tax salary for four years.
- Clear Debts: Pay off a mortgage, car loan, or credit cards, dramatically reducing your monthly outgoings and easing financial pressure.
- Fund Private Care: Pay for professional home care or respite services in the initial, most challenging months after a diagnosis.
Example Scenario: Mark, a 48-year-old architect, suffers a major stroke. His Critical Illness policy pays out £150,000. The family uses £20,000 for immediate home adaptations and intensive private physiotherapy. The remaining £130,000 allows his wife, Sarah, to take two years of unpaid leave from her teaching job to oversee his recovery and care, without them having to sell their home or go into debt.
Typical Conditions Covered by Critical Illness Insurance
| Core Conditions | Additional Conditions Often Included |
|---|---|
| Cancer (of specified severity) | Aorta Graft Surgery |
| Heart Attack | Benign Brain Tumour |
| Stroke | Blindness |
| Multiple Sclerosis | Deafness |
| Kidney Failure | Loss of Limb |
| Major Organ Transplant | Parkinson's Disease |
| Coronary Artery Bypass | Motor Neurone Disease |
| Alzheimer's/Dementia | Traumatic Head Injury |
The number and definition of conditions vary between insurers, which is why seeking expert advice is vital. At WeCovr, we help clients compare policies from all major UK insurers to find the plan with the most comprehensive definitions for conditions that matter most to them.
Income Protection: Replacing Your Salary When You Can't Work
Whilst Critical Illness Cover provides a one-off lump sum for a specific event, Income Protection is designed to provide a regular, monthly, tax-free replacement income if you are unable to work due to any illness or injury.
It is arguably the most fundamental insurance policy for any working adult, as your ability to earn an income is your single biggest financial asset. It is particularly vital in a caring context.
How Income Protection Provides a Lifeline:
- For the Person Needing Care: If you have an Income Protection policy and are forced to stop work due to your own long-term illness, it will pay out a monthly benefit (typically 50-60% of your gross salary) until you can return to work, or until the policy ends (e.g., at retirement age). This secures your own financial future and prevents you from becoming a financial burden on your family.
- For the Carer: A carer's own health is often put on the back burner. If the stress and physical strain of caring leads to the carer becoming ill themselves (e.g., with chronic back pain, depression, or burnout) and they are unable to do their own job, their own Income Protection policy would pay out. This provides a crucial financial backstop, preventing a total loss of household income.
Example Scenario: Priya, a 42-year-old marketing manager, becomes the primary carer for her mother who has Parkinson's. The stress is immense. After two years, Priya develops severe anxiety and burnout, and her doctor signs her off work. Her Income Protection policy, which she took out years earlier, kicks in after a 3-month deferral period. It pays her £2,200 a month (60% of her salary), allowing her to pay her mortgage and bills whilst she focuses on her own recovery, without the added terror of losing her home.
Income Protection provides long-term stability. It ensures the mortgage is paid, the bills are covered, and food is on the table, month after month, year after year, if necessary.
Life Insurance: Protecting Your Family's Future
Life Insurance provides a tax-free lump sum to your loved ones if you pass away during the policy term. In the context of care, its role is twofold: protecting against the death of the main earner, and protecting against the death of the carer.
- If the Main Earner Dies: If the family's primary earner passes away, a life insurance payout can pay off the mortgage and provide a fund for the surviving partner to live on. This is especially critical if the surviving partner is also a carer and has a limited ability to earn their own income.
- If the Carer Dies: The death of a carer creates an immediate and profound crisis. Who will now provide the care? A life insurance payout on the carer's life can provide the funds needed to hire professional carers or pay for a residential care home for the person who was being looked after, without forcing the sale of the family home.
Example Scenario: David is a full-time carer for his wife, Emily, who has Multiple Sclerosis. They have two teenage children. David has a £300,000 life insurance policy. Tragically, David dies suddenly from a heart attack. The insurance payout allows the family to clear the remaining £120,000 on their mortgage. The remaining £180,000 provides a crucial fund to pay for professional carers to help Emily at home, ensuring the children's lives are disrupted as little as possible and that Emily can remain in her adapted family home.
A Three-Pronged Strategy: Integrating LCIIP for Comprehensive Protection
These three policies are not mutually exclusive; they work together to create a comprehensive shield. Thinking about how they interact is key to building a truly resilient financial plan.
A Family's Journey: How LCIIP Works in Practice
| Life Event | The Financial Shock | The Insurance Solution |
|---|---|---|
| Stage 1: Diagnosis Husband (50) has a stroke. | Need for immediate cash for home adaptations, private therapy, and to cover wife's initial time off work. | Critical Illness Cover pays out a £125,000 lump sum. |
| Stage 2: Long-Term Illness Husband is unable to return to his job. | Loss of his £50,000 salary, placing huge strain on family finances. | His Income Protection policy starts paying £2,500/month, replacing a portion of his lost salary. |
| Stage 3: Carer Burnout Wife (48) develops severe depression from the strain of caring and her own job, and is signed off work. | Loss of her £40,000 salary. The household now has almost no earned income. | Her Income Protection policy starts paying £2,000/month, securing the family's core finances. |
| Stage 4: The Unthinkable Wife passes away unexpectedly. | An immediate care crisis. Who will care for the husband? How will it be funded? | Her Life Insurance policy pays out £250,000. This provides the funds to hire professional carers for her husband long-term. |
This multi-layered approach ensures that whatever happens, your family has the financial resources to cope, adapt, and maintain their dignity and quality of life.
Taking Control: Your Practical Guide to Getting the Right Cover
Understanding the risks is the first step. Taking action is the second. Here is a simple, three-step guide to putting your financial protection in place.
- Assess Your Situation: Think honestly about your family's vulnerabilities. What are your monthly outgoings? How much is left on your mortgage? What would happen if your or your partner's income disappeared tomorrow? Who depends on you financially?
- Understand the Options: Use the information in this guide to understand the roles of Life, Critical Illness, and Income Protection insurance. Think about which risks concern you the most.
- Speak to an Independent Expert: This is the most crucial step. The world of insurance is complex, with huge variations between providers. Using an independent broker doesn't cost you more; in fact, it can save you money and prevent you from buying an unsuitable policy.
At WeCovr, our expert advisors specialise in helping families navigate these exact challenges. We take the time to understand your unique situation and search the entire UK market to find the policies that offer the best cover for your needs and budget. We handle the paperwork and translate the jargon, making the process simple and stress-free.
Furthermore, we believe that protecting your health goes beyond just insurance. That's why every WeCovr client receives complimentary access to our proprietary AI-powered wellness app, CalorieHero. We understand the immense pressure on carers, and providing tools to help you manage your own health and wellbeing is part of our commitment to supporting you holistically.
Frequently Asked Questions About Unpaid Care and Insurance
Q: I'm already a carer. Is it too late to get insurance? A: Not necessarily. You can still apply for life insurance and critical illness cover. For income protection, it will depend on your own health and employment status. It's always worth having a conversation with an advisor to explore your options.
Q: I get Carer's Allowance. Isn't that enough? A: Carer's Allowance is currently just £81.90 per week (2025/26 rate). It is a helpful supplement but is nowhere near enough to replace a salary or cover the significant costs associated with care. It's also means-tested and can affect other benefits.
Q: Doesn't my employer's 'death in service' benefit cover me? A: Death in service is a great benefit, but it's typically a multiple of your salary (e.g., 4x) and it ceases the moment you leave your job. If you have to stop work to become a carer, you lose this cover. A personal life insurance policy belongs to you, regardless of your employment status.
Q: How much cover do I actually need? A: This is a personal calculation based on your mortgage, debts, dependents, and desired income in a crisis. A common rule of thumb for life insurance is to cover your mortgage plus 10x your annual salary. For critical illness, consider a sum that could clear immediate debts and cover 1-2 years of income. An advisor can help you calculate a precise figure.
Q: Is it cheaper to get a joint policy with my partner? A: A joint life policy is usually cheaper but typically only pays out once (on the first death) and then the policy ends, leaving the survivor with no cover. Two single policies can provide more comprehensive protection, as each would pay out independently.
Conclusion: The Choice Between Chance and a Plan
The data is clear: becoming an unpaid carer is a probable and high-impact event for a majority of UK families. The £4.5 million lifetime financial burden is not a scare tactic; it is a calculated risk based on the real-world consequences of lost income, shattered pensions, and the ever-rising cost of care.
You cannot predict when a health crisis will strike your family. But you can choose how you prepare for it. You can leave your financial future to chance, or you can build a robust plan that provides certainty in uncertain times.
Life, Critical Illness, and Income Protection are the cornerstones of that plan. They are the tools that empower you to care for your loved ones without sacrificing your own financial security. They provide a cash buffer that buys you time, options, and peace of mind.
Taking the step to protect your family is one of the most profound acts of love you can undertake. It's a declaration that no matter what challenges lie ahead, you have put a financial shield in place to ensure your family's story is one of resilience, not ruin.
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.
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