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Best Life Insurance for Covering Funeral Costs in 2025

Best Life Insurance for Covering Funeral Costs in 2025 2025

Losing a loved one is one of life’s most difficult experiences. Amid the grief, the last thing a family needs is the additional stress of worrying about money. Yet, with the cost of a basic funeral now running into thousands of pounds, this is an unfortunate reality for many. Planning ahead is not about being morbid; it's an act of care, a final gift to ensure your family can say goodbye without facing a financial crisis.

Life insurance offers a practical and affordable solution to cover these final expenses, providing a tax-free lump sum to your loved ones precisely when they need it most. But which type of policy is best? And which insurers offer the most value in 2025? This comprehensive guide will explore everything you need to know about choosing the right life insurance to cover funeral costs, giving you the clarity and confidence to make an informed decision.

WeCovr explores which insurers offer affordable funeral benefit policies

As expert brokers in the UK protection market, we at WeCovr spend our days navigating the complexities of life insurance, critical illness cover, and income protection. Our mission is to demystify the jargon and match our clients with the policy that truly fits their needs and budget. A significant part of this involves helping people plan for end-of-life expenses.

In this guide, we will delve into the specific products designed to help with funeral costs. We’ll compare the different types of life insurance, from simple Over 50s plans to more comprehensive Term and Whole of Life policies. We will also shine a spotlight on a valuable feature that many are unaware of: the Funeral Benefit Option. This is an arrangement where insurers partner with national funeral directors to offer a contribution towards the cost of your funeral, often adding hundreds of pounds to your policy's value. We'll examine which major UK insurers offer this benefit and how it works in practice.

The Soaring Cost of Saying Goodbye: Why Plan Ahead?

The cost of dying in the UK has been steadily increasing for years, far outpacing general inflation. This rise is driven by increases in funeral director fees, council burial and cremation charges, and the costs of optional extras like memorials and wakes.

According to the latest SunLife Cost of Dying Report, one of the most respected annual studies on the subject, the average cost of a basic funeral in the UK is now a staggering figure. While final 2025 figures are compiled throughout the year, projections based on recent trends suggest the average cost will continue its upward trajectory.

Let's break down the typical expenses:

  • Funeral Director’s Fees: This is the largest component, covering professional services, collection and care of the deceased, viewings, hearse, and staff on the day.
  • Third-Party Costs (Disbursements): These are fees the funeral director pays on your behalf. They include:
    • Cremation or burial fees (these vary significantly by local authority).
    • Doctor's fees for the cremation certificate.
    • Minister or celebrant’s fee.
  • Discretionary Costs: These are the optional extras that make a funeral personal but can add thousands to the final bill. They include the wake or reception, flowers, memorial headstone, order of service sheets, and death notices.

To illustrate the regional differences, here’s a look at the estimated average costs for a basic funeral across the UK.

UK RegionAverage Cost (Cremation)Average Cost (Burial)
London£5,100£7,500
South East England£4,650£6,800
Scotland£3,900£4,900
North West England£3,850£4,800
Wales£3,800£4,700
Northern Ireland£3,500£4,100
UK Average£4,150£5,300

Source: Estimates based on 2024 data from SunLife and other market analysts, projected for 2025. Actual costs will vary.

Faced with a bill of this size, many families are forced to take on debt, use savings meant for other goals, or even sell belongings. This financial strain compounds the emotional distress of bereavement. By putting a plan in place, you remove this burden, allowing your family to focus on grieving and celebrating your life.

Life Insurance for Funerals: Understanding Your Options

When people talk about "funeral insurance," they are typically referring to a life insurance policy taken out with the specific intention of covering these costs. The policy pays out a fixed cash sum upon your death, which your beneficiaries can use as they see fit. This gives them the flexibility to pay for the funeral, settle any small outstanding bills, or simply have a financial cushion during a difficult time.

There are three main types of life insurance policies commonly used for this purpose.

1. Over 50s Life Insurance

As the name suggests, this is a policy designed for people aged 50 and over (typically up to 80 or 85).

  • How it works: You pay a fixed monthly premium for the rest of your life (or until a certain age, e.g., 90). In return, the policy guarantees to pay out a fixed lump sum when you die.
  • Key Feature: Acceptance is guaranteed. There are no medical questions or examinations. As long as you are a UK resident within the age bracket, you will be accepted.
  • The Catch: Most plans have a "waiting period" of 12 or 24 months. If you die from natural causes during this period, the policy won't pay the full lump sum. Instead, it will refund the premiums you've paid, often with a small amount of interest (e.g., 1.5 times the premiums paid). If death is accidental, the full sum is usually paid from day one.

Best for: Individuals in their 50s, 60s, or 70s who may have pre-existing health conditions that would make other types of insurance expensive or unobtainable. It's a simple, hassle-free way to secure a guaranteed payout for funeral costs.

2. Term Life Insurance

This is the most common and often most affordable type of life insurance, especially for those who are younger and in good health.

  • How it works: You choose a lump sum amount (the "sum assured") and a period of time (the "term"). You are covered for that term, and if you die within it, the policy pays out. If you survive the term, the policy ends, and you get nothing back.
  • Key Feature: It is medically underwritten. You will be asked questions about your health, lifestyle (e.g., smoking, drinking), and family medical history. This allows the insurer to offer a premium that reflects your individual risk.
  • To cover funeral costs: You would typically choose a term that runs to a high age, such as 90. This is often called "Term to 90". For a relatively small sum assured (e.g., £10,000 - £15,000), premiums can be very competitive.

Best for: Healthy individuals under 65 who want a cost-effective way to secure a lump sum. It can provide a much larger amount of cover for a lower premium compared to an Over 50s plan.

3. Whole of Life Insurance

This is a more comprehensive and expensive type of cover.

  • How it works: Similar to an Over 50s plan, this policy covers you for your entire life and guarantees to pay out whenever you die. However, it is fully medically underwritten, just like term insurance.
  • Key Feature: The guaranteed payout and lifelong cover make it a powerful tool not just for funeral costs but also for Inheritance Tax (IHT) planning. The payout can be used to settle a potential IHT bill on your estate.
  • The Cost: Because the payout is guaranteed, premiums are significantly higher than for term insurance.

Best for: Wealthier individuals looking to leave a guaranteed legacy or cover a large, expected IHT liability. For purely covering funeral costs, it can be overkill unless other options are unsuitable.

Comparison of Life Insurance Options for Funeral Costs

FeatureOver 50s Life InsuranceTerm Life InsuranceWhole of Life Insurance
Cover DurationWhole of lifeFixed term (e.g., to age 90)Whole of life
PayoutGuaranteed (after waiting period)Only if you die within the termGuaranteed
Medical QuestionsNoYesYes
PremiumsFixed for lifeFixed for the termCan be reviewable or guaranteed
CostModerateLow (when young/healthy)High
Best ForSimple, guaranteed acceptanceCost-effective cover for a set periodGuaranteed legacy & IHT planning
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A Closer Look: The Funeral Benefit Option

This is a key feature that adds significant value to policies aimed at covering funeral costs. Several major UK insurers have partnered with large, national funeral director firms (like Dignity and Co-op Funeralcare) to offer a Funeral Benefit Option or Funeral Contribution.

How does it work?

  1. You take out a life insurance policy (usually an Over 50s plan, but sometimes available on other policies) with an insurer that offers this benefit.
  2. When you pass away, your beneficiaries contact the insurer to make a claim.
  3. The insurer will offer them the choice of taking the cash payout or using their partner funeral director.
  4. If they choose the partner funeral director, the insurer pays the policy proceeds directly to them. Crucially, the insurer also adds a bonus contribution—typically between £250 and £350—towards the funeral costs.

Example: Jean has an Over 50s policy with a £5,000 sum assured and a £300 funeral benefit option. When she passes away, her son David has two choices:

  • Option A: Take the £5,000 cash and arrange a funeral with a local, independent director.
  • Option B: Use the insurer's partner funeral director. The insurer pays the £5,000 to the director and adds their own £300 contribution. David now has £5,300 to put towards the funeral bill.

Pros:

  • Extra Money: The contribution is a welcome bonus that can help cover rising costs.
  • Simplicity: It can simplify arrangements at a stressful time, as the insurer and funeral director handle the payment directly.

Cons:

  • Lack of Choice: You are tied to a specific national chain, which may not have a branch nearby or may not be the family's preferred choice.
  • Potential Cost: While you get a contribution, the partner firm's overall funeral prices may not be the most competitive in your local area.

The key is flexibility. Your family is not obligated to use the partner director. They can always take the cash value and shop around, but they would forfeit the bonus contribution.

2025's Top Insurers for Funeral Cost Cover

When choosing a policy, it's vital to look beyond the headline premium. The features, flexibility, and reputation of the insurer are just as important. Here’s how some of the UK's leading providers stack up for funeral cost cover in 2025.

A household name and one of the UK's largest life insurers.

  • Over 50s Fixed Plan: A straightforward plan with guaranteed acceptance for UK residents aged 50-80. You're covered for life after a one-year waiting period. Premiums are fixed and stop at age 90, but cover continues for life.
  • Funeral Benefit Option: L&G partners with Dignity Funeral Directors. They currently offer a £300 contribution if your payout is used with a Dignity director. This is a significant and competitive bonus.
  • Term Insurance: L&G also offers highly competitive standard life insurance and critical illness policies, which can be set up to run to age 90 to cover funeral expenses.

Aviva

Another giant of the UK insurance industry, known for its strong brand and customer service.

  • Over 50s Life Insurance: Guaranteed acceptance for ages 50-80 with a 12-month waiting period. Premiums are payable for life.
  • Funeral Contribution: Aviva also partners with Dignity and offers a £300 contribution, matching the L&G offer and making them a strong contender.
  • Life Insurance+: Their flexible term insurance product can be a very cost-effective alternative for those in good health.

Royal London

A mutual insurer, meaning it's owned by its members rather than shareholders. Often praised for its ethos and excellent claims record.

  • Over 50s Life Assurance: Open to ages 50-80 with guaranteed acceptance and a waiting period that reduces from 24 months to 12 if you select their funeral benefit.
  • Funeral Benefit Option: Royal London's long-standing partnership is with Co-op Funeralcare. They offer a £250 contribution and the shorter 12-month waiting period, a unique dual benefit. This is a great option if Co-op is your preferred provider.

SunLife

SunLife are specialists in the Over 50s market and are arguably the most recognised brand in this specific space.

  • Guaranteed Over 50 Plan: A simple, direct product. They are known for their clear marketing and straightforward process. Their standard plan has a 12-month waiting period.
  • Funeral Payout Promise: While not a contribution like the others, SunLife promises to pay out claims quickly (often within one working day of receiving the necessary documents) to help families access funds for a funeral deposit.
  • Guaranteed Funeral Plan: They also offer a separate, FCA-regulated pre-paid funeral plan, so it's important to distinguish this from their Over 50s life insurance.

Vitality

Known for its innovative approach linking insurance with wellness.

  • Not an Over 50s Provider: Vitality does not offer a traditional Over 50s plan.
  • Wellness-Linked Term & Whole of Life: Their proposition is different. You take out a fully underwritten policy and are rewarded for healthy living (tracking activity, regular health checks). By engaging with their programme, you can significantly reduce your premiums over time.
  • Best for: Healthy, active individuals who want to be rewarded for their lifestyle. A Vitality policy with a small sum assured to cover funeral costs can be extremely cheap if you are committed to staying active. It's a proactive approach to planning.

Over 50s Plan Feature Comparison (2025)

InsurerMin/Max AgeMedical Questions?Waiting PeriodFuneral Benefit PartnerContribution
Legal & General50-80No12 monthsDignity£300
Aviva50-80No12 monthsDignity£300
Royal London50-80No12-24 months*Co-op Funeralcare£250
SunLife49-85No12 monthsN/AFast Payout Promise

*Royal London's waiting period is 24 months, but reduces to 12 if you opt-in to their Funeral Benefit Option at application.

Over 50s Plan vs. Pre-paid Funeral Plan: What's the Difference?

This is a very common point of confusion. Both are designed to address funeral costs, but they work in fundamentally different ways.

A Pre-paid Funeral Plan is a product where you pay for your funeral in advance, at today's prices. It's a contract for a service. An Over 50s Plan is a life insurance policy. It provides a fixed cash sum, not the funeral service itself.

Since 29th July 2022, pre-paid funeral plans have been regulated by the Financial Conduct Authority (FCA), offering consumers much greater protection. This was a crucial step in cleaning up the market.

Here’s a head-to-head comparison:

FeaturePre-paid Funeral PlanOver 50s Life Insurance
What you buyThe funeral service itselfA life insurance policy
The PayoutA funeral arranged by the plan providerA fixed cash lump sum for your beneficiaries
InflationLocks in funeral director's costs. Third-party costs may not be covered.Payout is fixed and does not rise with inflation.
FlexibilityLimited. Tied to a specific plan and director.High. The cash can be used for any purpose.
Shortfall RiskThird-party costs can rise, creating a shortfall.Funeral costs could rise above the payout amount.
Health QuestionsNoNo
RegulationFCA RegulatedFCA Regulated

Which is better? It depends on your priority. If you want to lock in the price of the director's services and have a specific funeral in mind, a pre-paid plan is a strong choice. If you value flexibility and want to provide your loved ones with cash that they can use as they see fit, an Over 50s plan is often superior.

Considerations for Business Owners & The Self-Employed

If you run your own business, are a company director, or work as a freelancer, planning for the unexpected is even more critical. You don't have the safety net of an employer's 'death in service' benefit, which typically pays out 3-4 times your salary. Your death could have a dual impact: on your family's personal finances and on the viability of your business.

Life insurance is not just a personal matter; it's a cornerstone of good business continuity planning.

  • Personal Life Insurance: This is the foundation. A personal Term or Whole of Life policy is essential to replace your lost income for your family, clear personal debts like a mortgage, and cover funeral costs. Don't rely on your business to provide for your family after you're gone.

  • Relevant Life Cover: This is one of the most tax-efficient protection products available for company directors and employees of small businesses. The company pays the premiums for a personal life insurance policy for the director.

    • Tax Benefits: The premiums are typically an allowable business expense, and it's not treated as a P11D benefit-in-kind for the director. This can result in significant tax savings compared to a personal policy paid from post-tax income.
    • The payout is paid tax-free to the director's family or nominated beneficiaries.
  • Key Person Insurance: What would happen to your business if you, a co-director, or a top salesperson were to die suddenly? Key Person Insurance is a policy taken out by the business on the life of a crucial individual. The payout goes to the business and can be used to cover lost profits, recruit a replacement, or clear business debts, ensuring the company's survival.

As specialists in business protection, WeCovr can help you navigate these options, ensuring that both your family and your business are protected with the most suitable and tax-efficient cover available.

Beyond the Payout: Wellness, Health, and Value-Added Benefits

Insurers are increasingly recognising that their role extends beyond simply paying claims. A healthier client is less likely to claim, and many now actively encourage and reward healthy living. This creates a win-win: you get to enjoy a healthier life, and you can access cheaper insurance and valuable perks.

Vitality is the clear leader here. Their entire model is built on rewarding members for being active. You earn points for steps, workouts, health screenings, and good nutrition, which in turn unlock rewards like cinema tickets, coffee, and crucially, lower insurance premiums.

But other insurers are also adding significant value to their policies, often at no extra cost:

  • 24/7 Virtual GP: Get a video consultation with a GP at a time that suits you, a huge benefit when NHS waiting times are long.
  • Mental Health Support: Access to counselling and therapy services for you and your family.
  • Second Medical Opinion Services: If you're diagnosed with a serious condition, you can get your diagnosis and treatment plan reviewed by a world-leading expert.
  • Bereavement Counselling: Support for your family after you're gone.

At WeCovr, we believe in this proactive approach to health. It's why we're proud to offer our life and health insurance clients complimentary access to CalorieHero, our exclusive AI-powered calorie and nutrition tracking app. We want to empower you to build the healthy habits that lead to a longer, happier life, while also helping you secure the best value on your protection. A few simple steps can make a huge difference:

  • Aim for Balance: Focus on a diet rich in fruits, vegetables, lean proteins, and whole grains.
  • Stay Active: The NHS recommends at least 150 minutes of moderate-intensity activity (like a brisk walk) or 75 minutes of vigorous activity (like running) a week.
  • Prioritise Sleep: Aim for 7-9 hours of quality sleep per night. It's vital for physical repair and mental resilience.
  • Manage Stress: Find healthy outlets for stress, whether it's mindfulness, a hobby, or spending time in nature.

How WeCovr Helps You Find the Right Cover

Navigating the insurance market can be overwhelming. A comparison site might give you a list of prices, but it won't tell you if the policy is actually right for you. That's where expert, independent advice makes all the difference.

  1. Understanding Your Needs: We start with a conversation. We take the time to understand your personal and financial situation, your family's needs, and what you want to achieve with the cover. Are we just covering a funeral, or do we need to protect a mortgage and a family's future too?
  2. Comparing the Whole Market: We compare plans from all the UK's leading insurers, looking at price, features like the Funeral Benefit Option, value-added benefits, and their claims statistics. We find the true best value, not just the cheapest premium.
  3. Application and Putting the Policy in Trust: We handle all the application paperwork for you. Crucially, we will also help you place your policy "in trust." This is a simple legal arrangement that names your specific beneficiaries. It ensures the policy payout goes directly to them, bypassing your estate and the lengthy probate process. This means the money is available quickly (often in days, not months) and is paid free of Inheritance Tax.
  4. Ongoing Support: Our service doesn't stop once the policy is live. We are here for you for the life of your policy to answer questions or help with any future reviews.

Planning for your funeral is one of the most selfless things you can do. It's a final act of love that protects your family from financial hardship at the worst possible time. With the right advice and the right policy, you can secure this peace of mind affordably and effectively.

Is the payout from a life insurance policy tax-free?

Generally, yes, if the policy is written 'in trust'. A trust is a simple legal arrangement that separates the policy from your estate. This means the payout goes directly to your chosen beneficiaries without being liable for Inheritance Tax and without having to go through probate. If a policy is not in trust, the payout forms part of your legal estate and could be subject to IHT if your estate's value exceeds the current threshold. An adviser can help you set up a trust for free when you take out a policy.

What happens if I stop paying my premiums?

If you stop paying the monthly premiums for your life insurance policy, your cover will lapse. This means the policy is cancelled, and no payout will be made if you die. It's important to understand that these policies have no cash-in value, so you will not get any of the money you have paid in back. You should only take out a policy if you are confident you can afford the premiums for the duration of the term.

Do I need a medical for an Over 50s plan?

No, you do not. One of the main features of an Over 50s plan is that acceptance is guaranteed for UK residents within the specified age range (usually 50-80 or 50-85). There are no medical questions, no GP reports, and no examinations needed. This makes them an excellent option for those with health conditions who might otherwise struggle to get insured.

Can I have more than one life insurance policy?

Yes, you can hold multiple life insurance policies. Many people do this to cover different financial needs. For example, you might have a large 'decreasing term' policy to cover your mortgage, a 'level term' policy to provide for your family's living costs, and a smaller Over 50s plan specifically to cover your funeral costs.

What's the difference between a funeral benefit option and just using the cash payout for a funeral?

A funeral benefit option is a specific feature where the insurer adds a bonus contribution (e.g., £300) to your policy payout if your beneficiaries use the insurer's partner funeral director. This increases the total value available for the funeral. If you just use the cash payout, you have the flexibility to choose any funeral director you wish, but you will not receive the extra contribution from the insurer.

Will an Over 50s plan definitely cover the full cost of my funeral?

Not necessarily. The payout from an Over 50s plan is a fixed cash sum that does not increase over time. However, funeral costs tend to rise each year with inflation. If you take out a policy today with a £5,000 payout, it may be enough to cover a funeral now, but in 20 years' time, the cost of a funeral could be significantly higher. The policy will provide a very helpful and substantial contribution, but it may not cover the entire bill. It is best to review your cover periodically.

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Why life insurance and how does it work?

What is Life Insurance?

Life insurance is an insurance policy that can provide financial support for your loved ones when you or your joint policy holder passes away. It can help clear any outstanding debts, such as a mortgage, and cover your family's living and other expenses such costs of education, so your family can continue to pay bills and living expenses. In addition to life insurance, insurance providers offer related products such as income protection and critical illness, which we will touch upon below.

How does it work?

Life insurance pays out if you die. The payout can be in the form of a lump sum payment or can be paid as a replacement for a regular income. It's your decision how much cover you'd like to take based on your financial resources and how much you'd like to leave to your family to help them deal with any outstanding debts and living expenses. Your premium depends on a number of factors, including your occupation, health and other criteria.

The payout amount can change over time or can be fixed. A level term or whole of life policy offers a fixed payout. A decreasing term policy offers a payout that decreases over the term of the cover.

With critical illness policies, a payout is made if you’re diagnosed with a terminal illness with a remaining life expectancy of less than 12 months. While income protection policies ensure you can continue to meet your financial commitments if you are forced to take an extended break from work. If you can’t work because you’ve had an accident, fallen sick, or lost your job through no fault of your own, income protection insurance pays you an agreed portion of your salary each month.

Income protection is particularly helpful for people in dangerous occupations who want to be sure their mortgage will always be covered. Income protection only covers events beyond your control: you’re much less likely to be covered if you’re fired from your job or if you injure yourself deliberately.

Questions to ask yourself regarding life insurance

Just ask yourself:
👉 Who would pay your mortgage or rent if you were to pass away or fall seriously ill?
👉 Who would pay for your family’s food, clothing, study fees or lifestyle?
👉 Who would provide for the costs of your funeral or clear your debts?
👉 Who would pay for your costs if you're unable to work due to serious illness or disability?

Many families don’t realise that life, income protection and critical illness insurance is one of the most effective ways to protect their finances. A great insurance policy can cover costs, protect a family from inheriting debts and even pay off a mortgage.

Many would think that the costs for all the benefits provided by life insurance, income protection insurance or critical illness insurance are too high, but the great news is in the current market policies are actually very inexpensive.
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Benefits offered by income protection, life and critical illness insurance

Life insurance, income protection and critical illness insurance are indispensable for every family because a child loses a parent every 22 minutes in the UK, while every single day tragically 60 people suffer major injuries on the UK roads. Some people become unable to work because of sickness or disability.

Life insurance cover pays out a lump sum to your family, loved ones or whomever you choose to get the money. This can be used to secure the financial future of your loved ones meaning they would not have to struggle financially in the event of your death.

If it's a critical illness cover, the payout happens sooner - upon diagnosis of a serious illness, disability or medical condition, easing the financial hardship such an event inevitably brings.

Income protection insurance can be very important for anyone who relies on a pay check to cover their living costs, but it's especially important if you’re self-employed or own a small business, where your employment and income is a bit less stable. It pays a regular income if you can't work because of sickness or disability and continues until you return to paid work or you retire.

In a world where 1 in 4 of us would struggle financially after just four weeks without work, the stark reality hits hard – a mere 7% of UK adults possess the vital shield of income protection. The urgency of safeguarding our financial well-being has never been more palpable.

Let's face it – relying on savings isn't a solution for everyone. Almost 25% of people have no savings at all, and a whopping 50% have £1,000 or less tucked away. Even more concerning, 51% of Brits – that's a huge 27 million people – wouldn't last more than one month living off their savings. That's a 10% increase from 2022.

And don't even think about state benefits being a safety net. The maximum you can expect from statutory sick pay is a mere £109.40 per week for up to 28 weeks. Not exactly a financial lifeline, right?

Now, let's tackle a common objection: "But I have critical illness insurance. I don't need income protection too." Here's the deal – the two policies apply to very different situations. In a nutshell:

  • Critical illness insurance pays a single lump sum if you're diagnosed with or undergo surgery for a specified potentially life-threatening illness. It's great for handling big one-off expenses or debts.
  • Income protection, on the other hand, pays a percentage of your salary as a regular payment if you can't work due to illness or injury. It's the superhero that tackles those relentless monthly bills.

Types of life insurance policies

Common reasons for getting a life insurance policy are to:
✅ Leave behind an amount of money to keep your family comfortable
✅ Protect the family home and pay off the mortgage in full or in part
✅ Pay for funeral costs

Starting from as little as a couple of pounds per week, you can do all that with a Life Policy.

Level Term Life Insurance
One of the simplest forms of life insurance, level term life insurance works by selecting a length of time for which you would want to be covered and then deciding how much you would like your loved ones to receive should the worst happen. Should your life insurance policy pay out to your family, it would be in a lump sum amount that can be used in whatever way the beneficiary may wish.

Decreasing Term Life Insurance
Decreasing term life insurance works in the same way as level term, except the lump sum payment amount upon death decreases with time. The common use for decreasing term life cover is to protect against mortgage repayment as the lump sum decreases along with the principal of the mortgage itself.

Increasing Term Life Insurance
Increasing term life insurance aims to pay out a cash sum growing each year if the worst happens while covered by the policy. With increasing term life cover amount insured increases annually by a fixed amount for the length of the policy. This can protect your policy's value against inflation, which could be advantageous if you’re looking to maintain your loved ones’ living standards, continue paying off your mortgage in line with its repayment schedule and cover your children’s education fees.

Whole of Life Insurance
Whereas term life insurance policies only pay out if you pass away during their term, whole of life insurance pays out to your beneficiaries whenever this should happen. The most common uses for whole life insurance are to cover the costs of a funeral or as a vehicle for your family's inheritance tax planning.

Family Income Benefit
Family income benefit is a somewhat lesser-known product in the family of life insurance products. Paying out a set amount every month of year to your beneficiaries, it is the most cost-effective way of maintaining your family's living standards to an age where you'd expect them to be able to support themselves financially. The most common use would be for a family with children who are not working yet so are unable to take care of themselves financially.

Relevant Life Insurance
Relevant Life Insurance is a tax-efficient policy for a director or single employee. A simple level term life insurance product, it is placed in a specific trust to ensure its tax efficiency. The premiums are tax deductible and any benefit payable should a claim arise is also paid out tax free, which makes it an attractive product for entrepreneurs and their businesses.

Important Fact!

There is no need to wait until the renewal of your current policy.
We can look at a more suitable option mid-term!

Why is it important to get life insurance early?

👉 Many people are very thankful that they had their life, income protection, and critical illness insurance cover in place before running into some serious issues. Critical illness and income protection insurance is as important as life insurance for protecting your family's finances.

👉 We insure our cars, houses, bicycles and even bags! Yet our life and health are the most precious things we have.

Easily one of the most important insurance purchases an individual or family can make in their lifetime, the decision to buy life, income protection, critical illness and private medical health insurance can be made much simpler with the help of FCA-authorised advisers. They are the specialists who do the searching and analysis helping people choose between various types of life insurance policies available in the market, including income protection, critical illness and other types of policies most suitable to the client's individual circumstances.

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

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

By tapping the button below, you can book a free call with them in less than 30 seconds right now:
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Life, income protection, and/or critical illness insurance are safety nets, very important at a difficult time. If anything happened to you before your cover ends, your life or critical illness insurance would pay a lump sum to your family and/or you (if you took a critical illness or income protection cover) to help cover the losses. Being diagnosed with a critical illness can be devastating, and it won't help matters to be also worrying about how you would cope financially. With a life, income protection, or critical illness policy, you can choose how much cover you need, how you want the policy to pay out, and whether you want cover for both you and your partner. Income protection insurance pays you a regular income if you can't work because of sickness or disability and continues until you return to paid work or you retire. Also known as permanent health insurance, it is quite important for anyone who relies on a paycheck to cover their living costs, but it's particularly important if you're self-employed or own a small business, where your income might be a bit less stable.

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

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

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

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

All of our partners are carefully vetted and authorised by the FCA, which means they are held to the highest standards that the FCA expects from them and treat all customers fairly!

Our insurance partners give us a few pounds when you take out a policy with one of their experts.

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

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

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

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

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

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

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

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

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

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

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

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

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

Term life insurance provides coverage for a specific period, such as 10, 20, or 30 years, and pays out a death benefit if you die during the term of the policy. Whole life insurance, on the other hand, provides coverage for your entire life and includes a cash value component that grows over time. Whole life insurance also offers lifelong protection and may accumulate cash value that you can borrow against or withdraw.

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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