Life insurance is your backup plan - a lump sum when you’re gone. But what does it tackle? Debts, funerals, futures - and with Spirit Cover, it’s more. We add terminal illness cover, trusts to beat tax (40% over £325,000 HMRC, 2023), and benefits like GP 24/7. Cost? Same as basics - £38/month for £152,000 Forbes Advisor UK, 2024. Let’s see what it does.
The Essentials
Your payout can:
- Clear Debts: £248,000 mortgages, £8,088 consumer debt [Statista, 2023; The Money Charity, 2019](https://www.statista.com/topics/4816/life-insurance-industry-in-the-uk/; https://themoneycharity.org.uk/money-statistics/).
- Cover Funerals: £4,267 average Finder UK, 2020.
- Leave Gifts: Cash for kids or causes.
Spirit’s terminal illness perk lets you claim early (under 12 months left) - spend it your way.
Spirit’s Extra Mile
Basic plans pay out. We add:
- Trusts: Tax-free delivery - £300,000 stays £300,000.
- Benefits: Global Treatment, Mental Health Support - care that lasts.
A £80,403 average payout in 2023 ABI, 2023 could lose £32,000 to tax elsewhere. Spirit saves it.
Limits?
Suicide in year one’s usually out (UK norm). Disclose health - we’ll sort it, no surprises.
Your Voice After
It’s more than money - it’s your “I’ve got you.” Tell us your wishes, and your Spirit advisor (like Joe) will make it real - tax-smart, benefit-rich.