Money’s tight sometimes - 44% of UK households hit financial strain within six months of lost income Forbes Advisor UK, 2024. Miss life insurance payments? It’s not game over with Spirit Cover. Traditional plans lapse, but we adjust to keep you covered - trusts, GP 24/7, all intact. Here’s the deal.
The Usual Risk
Miss a payment? Most UK policies offer a 30-day grace. After that, cover’s gone - 97.6% of 2023 claims paid ABI, 2023 won’t help if you’re out. Premiums lost unless it’s a rare cash-value plan.
Spirit’s Flex
We adapt:
- Lower Cover: £200,000 to £100,000 - £40 to £20/month.
- Pause: Some plans freeze payments (terms apply).
- Value Stays: Trusts (tax-free HMRC, 2023) and benefits hold.
Restart later? Age and health hike costs - £30 at 40 to £50 at 45.
Stay Ahead
A lapse means reapplying - tougher terms. Spirit keeps your £152,000 average cover Forbes Advisor UK, 2024 alive, affordable.
Let’s Adjust
Struggling? Tell us. Your Spirit advisor will reshape it - trust-smart, budget-friendly. Don’t lose your safety net.