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Zurich vs AIG Life Insurance Which Provider Leads in 2025

Zurich vs AIG Life Insurance Which Provider Leads in 2025

Choosing a life insurance provider is one of the most significant financial decisions you'll ever make. It’s a promise you make to your loved ones – a commitment that they will be financially secure, no matter what life throws your way. In the vast UK protection market, two names stand out for their global scale and comprehensive offerings: Zurich and AIG.

Both are titans of the insurance world, trusted by millions. But when it comes to protecting your family or your business in 2025, which one truly leads the pack? Is the Swiss precision and heritage of Zurich the right fit for you, or does the innovative, value-packed approach of American giant AIG better suit your needs?

This definitive guide will dissect, compare, and analyse every crucial aspect of their offerings. We’ll go beyond the marketing brochures to give you a clear, unbiased view, helping you make an informed decision for your future.

WeCovr compares these two global players in the UK life market

At WeCovr, we work with leading insurers like Zurich and AIG every single day. Our expertise allows us to see beyond the surface-level details and understand the real-world differences that matter to you. Let's introduce the contenders.

Zurich: Founded in 1872, Zurich is a Swiss powerhouse with a formidable global presence and a long, stable history. In the UK, they are known for their high-quality, comprehensive products, strong financial ratings, and a commitment to sustainability. Zurich represents reliability and a tradition of excellence.

AIG (American International Group): AIG Life Limited is the UK arm of the colossal American insurer. Established in the UK in 2015 after acquiring Ageas Protect, AIG quickly became a major disruptive force in the market. They are renowned for their innovative approach, particularly their market-leading added-value benefits, and a flexible underwriting philosophy.

Both are excellent providers, but they cater to slightly different priorities and customer profiles. This comparison will explore those nuances in detail.

At a Glance: Zurich vs AIG Key Features (2025)

Before we dive deep, here’s a high-level summary of how these two insurers stack up.

FeatureZurichAIG (AIG Life Ltd)
HeritageSwiss, founded 1872American, UK arm est. 2015
Financial StrengthVery Strong (AA rating)Very Strong (A rating)
Core ProductsLife, CI, IP, Business CoverLife, CI, IP, Business Cover
Key DifferentiatorMulti-policy discounts, brand trustSmart Health service
Payout RecordExcellent, high % of claims paidExcellent, high % of claims paid
Target MarketBroad, with strengths for professionalsBroad, strong appeal for families

Core Protection Products: A Head-to-Head Analysis

The foundation of any insurer is the quality of its core products. Let's break down how Zurich and AIG compare across life insurance, critical illness cover, and income protection.

Life Insurance

Life insurance provides a lump sum or regular income to your loved ones if you pass away during the policy term. It’s designed to clear debts like a mortgage, cover funeral costs, and provide for your family's future living expenses.

Zurich Life Protection Zurich's offering is a classic, robust term life insurance plan. It’s flexible and can be tailored to meet a wide range of needs.

  • Cover Types: Offers Level Term Assurance (payout stays the same), Decreasing Term Assurance (payout reduces, ideal for repayment mortgages), and Family Income Benefit.
  • Term Lengths: Policies can run from 1 to 50 years.
  • Cover Amount: High maximum cover levels available, subject to underwriting.
  • Joint Life: Available on a 'first death' basis, meaning the policy pays out on the first death and then ends.
  • Multi-Policy Discount: A key benefit. If you take out more than one policy with Zurich (e.g., life and income protection), you can receive a discount, making a comprehensive protection package more affordable.

AIG Term Assurance AIG provides a highly competitive and feature-rich term life insurance product.

  • Cover Types: Also offers Level, Decreasing, and Family Income Benefit options.
  • Term Lengths: Flexible terms available to match your needs.
  • Instant Life Cover: For non-medical applications, AIG can often put cover in place immediately, providing peace of mind from day one.
  • Joint Life: Available on a 'first death' basis.
  • Key Feature: Every AIG policyholder gets free access to their Smart Health service, a significant added benefit we'll explore later.

Life Insurance Comparison Table

FeatureZurich Life ProtectionAIG Term Assurance
Max Entry Age8386
Max Term50 yearsUp to 70 years
Cover TypeLevel, Decreasing, FIBLevel, Decreasing, FIB
Joint LifeFirst DeathFirst Death
Key PerkMulti-policy discountSmart Health access

Verdict: Both offer excellent, flexible term life insurance. Zurich's multi-policy discount is a strong incentive for those buying a package of cover. AIG's inclusion of Smart Health provides immediate, tangible value from the moment the policy starts.

Critical Illness Cover (CIC)

Critical Illness Cover pays out a tax-free lump sum if you are diagnosed with one of a specific list of serious medical conditions. This money can be a lifeline, helping you cover lost income, pay for private treatment, or adapt your home.

The quality of a CIC policy often comes down to the number of conditions covered and the clarity of the definitions.

Zurich Critical Illness Cover Zurich provides a comprehensive CIC policy with a strong focus on core conditions and support.

  • Conditions Covered: Zurich covers a robust list of full payment conditions (typically around 40-50, including all ABI standard definitions) and a number of additional/partial payment conditions.
  • Children's Cover: Automatically included, offering a significant level of cover for your children at no extra cost. It is often praised for its comprehensive nature.
  • Support Services: Policyholders gain access to Zurich Support Services, providing practical and emotional support from nurses, counsellors, and other professionals.

AIG Critical Illness Cover AIG's CIC is known for its extensive list of covered conditions and its forward-thinking approach.

  • Conditions Covered: AIG boasts one of the most comprehensive lists on the market, covering over 80 conditions for full payment and an additional 40+ for partial payment. They have a reputation for covering conditions that other insurers may not.
  • Children's Cover: Automatically included and is also highly comprehensive.
  • Enhanced Definitions: AIG often uses 'ABI+' definitions, meaning their criteria for a payout can be more generous than the industry standard.
  • Smart Health: Again, the Smart Health service is a huge bonus here, providing second medical opinions which can be invaluable following a serious diagnosis.

Critical Illness Cover Comparison Table

FeatureZurich Select CICAIG Critical Illness Cover
Full Conditions~40-50~80+
Partial Conditions~30+~40+
Children's CoverIncluded, comprehensiveIncluded, comprehensive
Survival Period10 days10 days
Key FeatureZurich Support ServicesMost comprehensive condition list

Verdict: For sheer breadth of coverage, AIG often has the edge with its extensive list of conditions. This can provide greater peace of mind. However, Zurich's policy is extremely robust and high-quality. The choice may come down to which provider's definitions better cover your specific health concerns. An expert adviser at WeCovr can help you compare these complex documents.

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Income Protection (IP)

Income Protection is arguably the one policy every working adult should consider. It pays a regular, tax-free monthly income if you're unable to work due to illness or injury. It's a replacement for your salary that can last until you recover or reach retirement age.

Zurich Income Protection Zurich offers a flexible and reliable IP product designed to provide a secure safety net.

  • Incapacity Definition: Typically offers an 'own occupation' definition for many professions, which is the gold standard. This means the policy pays out if you are unable to do your specific job.
  • Deferment Periods: A wide range from 4, 8, 13, 26, to 52 weeks, allowing you to align the policy with your employer's sick pay.
  • Payment Period: Can choose short-term (e.g., 2 years per claim) or long-term (pays out until retirement age).
  • Support: Includes rehabilitation and back-to-work support to help you recover and return to employment.

AIG Income Protection AIG's IP product is competitive and comes with several claimant-friendly features.

  • Incapacity Definition: Also strongly focuses on the 'own occupation' definition, ensuring a fair assessment at the point of claim.
  • Deferment Periods: Offers a full range of deferment periods to suit both employed and self-employed individuals.
  • Payment Period: Offers both short-term and long-term (full-term) benefit options.
  • Trauma Benefit: Includes a lump-sum payment for specific injuries (e.g., fractures, ligament tears), which can provide immediate financial help without affecting the main income benefit.

Income Protection Comparison Table

FeatureZurich Income ProtectionAIG Income Protection
Incapacity DefinitionOwn Occupation (standard)Own Occupation (standard)
Deferment Periods4, 8, 13, 26, 52 weeks4, 8, 13, 26, 52, 104 weeks
Max BenefitUp to 60% of incomeUp to 60% of income
Payment PeriodShort or Long TermShort or Long Term
Unique FeatureStrong rehabilitation supportIncluded Trauma Benefit

Verdict: Both providers offer first-class income protection. AIG's included Trauma Benefit is a nice touch that adds extra value. Zurich's reputation for excellent rehabilitation support is a significant plus. The best choice often depends on your occupation and the specific terms offered after underwriting.

Added-Value Benefits & Wellness Support: Beyond the Payout

In 2025, a protection policy is about more than just a cheque at the worst time in your life. Insurers now compete on the day-to-day value they provide, helping you and your family live healthier lives.

Zurich Support Services

Available to all Zurich policyholders and their families, this is a comprehensive support network designed to help with life's challenges. It includes:

  • Counselling: Access to a network of counsellors for face-to-face or telephone support for issues like stress, anxiety, or bereavement.
  • 24/7 Helpline: Manned by BACP-accredited counsellors.
  • Nurse Support: Specialist nurses can provide guidance and support following a diagnosis or during a difficult health period.
  • Second Medical Opinion: While not as integrated as AIG's, options for seeking a second opinion are available through their partners.

This service provides real, tangible support that can be used at any time, not just at the point of a claim.

AIG's Smart Health

This is AIG's flagship feature and a genuine game-changer in the UK protection market. It is provided at no extra cost to all AIG policyholders, their partners, and their children up to age 21. It's a suite of six services accessible via a simple app or phone call:

  1. 24/7 Digital GP: Get a phone or video consultation with a UK-based GP anytime, anywhere. This can save weeks of waiting for an NHS appointment. Prescriptions can be sent directly to your local pharmacy.
  2. Best Doctors® (Second Medical Opinion): If you or a family member receive a diagnosis, you can have your case reviewed by a world-leading specialist to confirm the diagnosis and recommend the best treatment plan. This is an incredibly powerful tool.
  3. Mental Health Support: Access to up to four therapy sessions per condition, per year. This can be used for a wide range of issues from stress to more complex conditions.
  4. Fitness & Nutrition Plans: Personalised programmes designed by experts to help you achieve your health and wellness goals.
  5. Online Health Check: A comprehensive online questionnaire that provides a personalised health report and advice.
  6. Expert Case Management: For complex medical cases, this service helps you navigate the healthcare system.

The value of Smart Health cannot be overstated. For a family, the ability to see a GP instantly at 3 am when a child is ill is worth its weight in gold.

WeCovr's Commitment to Your Health

At WeCovr, we believe that the best claim is the one that never has to be made. We encourage and support our clients in their proactive health journeys. That's why, in addition to finding you the best protection policy, we provide our valued customers with complimentary access to CalorieHero, our exclusive AI-powered calorie and nutrition tracking app. It's another way we go above and beyond, helping you stay on top of your wellness goals and live a healthier, happier life.

The Claims Experience: Putting Promises to the Test

A policy is only as good as the insurer's willingness and ability to pay claims. Both Zurich and AIG have outstanding and transparent records.

Zurich Claims Statistics Zurich consistently publishes its claims data, demonstrating a strong commitment to paying out.

  • Latest Reported Figures (2023):
    • Life Insurance: Paid 98% of claims, totalling over £468.9 million.
    • Critical Illness: Paid 93% of claims, totalling £248.8 million.
    • Income Protection: Paid 93% of claims.
  • The Human Touch: Zurich is known for its empathetic and efficient claims process, often assigning a dedicated claims assessor to see a case through from start to finish.

AIG Claims Statistics AIG is equally proud of its payout record and provides detailed reports on its performance.

  • Latest Reported Figures (2023):
    • All Claims: Paid 99% of all claims (Life, CI, and IP).
    • Total Paid: Over £735 million paid out to more than 8,600 claimants.
    • Claims Support: AIG provides exceptional support, including their Claims Support Fund, which can offer immediate financial assistance for things like travel to hospital appointments.

Why are claims declined? It's important to note that the small percentage of claims declined by any insurer are almost always due to two key reasons:

  1. Non-disclosure: The applicant was not truthful about their health, lifestyle (e.g., smoking), or occupation on the application form.
  2. The definition was not met: For a critical illness claim, the condition diagnosed did not meet the specific definition in the policy wording.

This is why absolute honesty during application and understanding the policy documents are crucial. Working with a broker like WeCovr helps ensure your application is accurate and you understand the cover you're buying.

Underwriting Philosophy and Target Audience

Underwriting is the process insurers use to assess your risk and decide the terms of your policy.

Zurich's Approach Zurich is often seen as a premier choice for professionals and those with straightforward health profiles. Their underwriting is thorough and based on a wealth of historical data. They have a strong online application process that can deliver instant decisions for many applicants. While they will consider more complex cases, their sweet spot is often the standard to low-risk applicant seeking high-quality, comprehensive cover.

AIG's Approach AIG has a reputation for being more flexible and innovative in its underwriting. They are often willing to consider applicants who might be rated or declined elsewhere. This can include:

  • Certain pre-existing medical conditions.
  • Higher-risk occupations.
  • Those with a more complex financial or lifestyle background.

Their use of technology aims to make the journey smoother for a wider range of people. This doesn't mean they accept everyone, but their approach can be more solution-oriented.

Who are they best for?

  • Choose Zurich if: You value brand heritage, financial strength, and a high-quality, traditional insurance product. Their multi-policy discount makes them an excellent choice if you're building a complete protection portfolio (e.g., life, CI, and IP).
  • Choose AIG if: The day-to-day wellness benefits of Smart Health are a major draw for you and your family. You want the most extensive critical illness cover available. You may have a slightly more complex health profile and need a flexible underwriter.

Specialist Cover for Business Owners & Directors

Both Zurich and AIG are major players in the business protection market, offering vital cover for company directors, business owners, the self-employed, and freelancers.

Key Person Insurance: Imagine your business's most vital employee—perhaps a top salesperson or a technical genius—is diagnosed with a critical illness and can't work. Key Person Insurance provides a lump sum to the business to cover lost profits, recruit a replacement, or manage debts during this difficult period. Both Zurich and AIG offer excellent, flexible Key Person policies.

Relevant Life Cover: This is one of the most tax-efficient ways for a limited company to provide life insurance for its employees, including directors.

  • The company pays the premiums.
  • Premiums are typically an allowable business expense.
  • It's not treated as a P11D benefit-in-kind for the employee.
  • The payout goes directly to the employee's family, free of inheritance tax. Both insurers offer competitive Relevant Life Plans.

Executive Income Protection: Similar to a Relevant Life Plan, this is an income protection policy paid for by the company for an employee or director. It's a highly valued benefit that protects an individual's income in a tax-efficient manner for the business. Zurich and AIG both provide strong offerings in this space.

Considering Other Important Protection Products

While Life, CI, and IP are the cornerstones, Zurich, AIG, and other insurers offer further solutions.

  • Family Income Benefit (FIB): Instead of a single lump sum, this pays out a regular, tax-free monthly or annual income until the end of the policy term. It's often more affordable than a lump-sum policy and can be easier for a family to manage, replacing the deceased's lost salary.
  • Personal Sick Pay: These are typically short-term income protection policies, often with a 1 or 2-year payment period per claim. They are popular with tradespeople and those in riskier jobs who need a simple, affordable safety net against short-to-medium term absences from work.
  • Gift Inter Vivos Cover: A clever tool for Inheritance Tax (IHT) planning. If you gift a large sum of money or an asset, it only becomes fully exempt from IHT if you survive for 7 years. A Gift Inter Vivos policy is a life insurance plan that runs for 7 years, with a payout that decreases in line with the IHT liability, protecting your beneficiaries from an unexpected tax bill.

How WeCovr Helps You Choose

As you can see, choosing between Zurich and AIG isn't a simple case of one being "better." The right choice is deeply personal and depends entirely on your unique circumstances: your health, your family's needs, your occupation, and your budget.

This is where expert, independent advice is invaluable.

  • We're Independent: We are not tied to Zurich, AIG, or any single insurer. Our loyalty is to you, our client.
  • We're Experts: Our advisers understand the intricate details of every policy from every major UK provider. We know which insurer is best for a self-employed plumber, a company director with a previous health issue, or a young family wanting the most comprehensive cover.
  • We Compare the Whole Market: We don't just compare two providers; we compare them all. We find the policy that gives you the right level of cover at the most competitive price.
  • We Handle the Hassle: From application to writing the policy in trust (which is crucial for ensuring the payout goes to the right people quickly and tax-efficiently), we guide you every step of the way.

Conclusion: The 2025 Verdict - Zurich or AIG?

So, which provider leads in 2025? The truth is, they both lead in their own respective fields.

Zurich is the undisputed champion of trust, reliability, and comprehensive quality. They are a rock-solid choice for anyone who wants a first-class policy from a globally respected brand with a long history of paying claims. Their multi-policy discount offers fantastic value for those seeking a complete protection solution.

AIG is the leader in innovation and added value. Their Smart Health service is a revolutionary benefit that provides tangible, everyday wellness support for your entire family. Combined with their incredibly broad critical illness cover and flexible underwriting, they present a compelling, modern package that is hard to beat.

Ultimately, the winner of the "Zurich vs AIG" debate is you, the consumer. The competition between these giants has driven innovation and value across the market. The best way to determine your personal winner is to speak to an expert who can lay out the options side-by-side, tailored to your life.

Is Zurich or AIG cheaper for life insurance?

There is no single "cheaper" provider. The cost of life insurance depends on numerous factors, including your age, health, smoking status, occupation, the amount of cover, and the policy term. For a young, healthy non-smoker, the prices might be very similar. For someone with a pre-existing medical condition, one insurer may offer a much better price than the other. The only way to know for sure is to get personalised quotes. An independent broker like WeCovr can compare prices from both providers and the wider market instantly.

What is the main benefit of AIG's Smart Health service?

The standout benefit of Smart Health is the 24/7 unlimited access to a UK-based GP via phone or video call, available for you, your partner, and your children up to age 21. This provides immediate access to medical advice, diagnoses, and prescriptions, bypassing NHS waiting times. Other significant benefits include the Best Doctors® second medical opinion service and mental health support, all at no extra cost.

Are both Zurich and AIG financially secure?

Yes, both companies have extremely strong financial security. Financial strength ratings indicate an insurer's ability to meet its ongoing obligations, like paying claims. Zurich holds an 'AA' rating from major agencies, while AIG holds an 'A' rating. Both of these are considered 'Very Strong' and indicate a very high likelihood that they will be able to pay claims long into the future.

Do I need a medical exam to get life insurance with Zurich or AIG?

Not always. For many people, especially those who are younger and applying for a moderate amount of cover, a policy can be issued based solely on the answers provided in the application form. However, a medical exam, a nurse screening, or a GP report may be required if you are older, have pre-existing health conditions, or are applying for a very large amount of cover. The insurer will always cover the cost of any medical evidence they request.

Can I get cover from Zurich or AIG if I have a pre-existing medical condition?

Yes, it is often possible to get cover from both insurers even with a pre-existing condition, such as diabetes or high blood pressure. Each application is assessed individually. The insurer may offer standard terms, increase the premium (a 'rating'), or place an exclusion on the policy related to your condition. AIG is known for its flexible underwriting, but it's essential to compare. An expert broker like WeCovr can be invaluable here, as we know which insurers tend to be more favourable for specific conditions and can help you present your case in the best possible light.

What is the difference between a life insurance policy and a Relevant Life policy?

A standard life insurance policy is taken out and paid for by an individual with their post-tax income. A Relevant Life policy is a specific type of life insurance for an employee or director of a limited company. The key difference is that the company pays the premiums, and these are generally treated as an allowable business expense for tax purposes. Furthermore, it is not considered a benefit-in-kind, so there is no extra tax for the employee. It's a highly tax-efficient way for a business to provide death-in-service benefits.

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

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

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

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

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Any questions?

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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


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