A sorry but welcome headline

The Covid-19 crisis is taking a terrible toll on life across the globe. In the UK, a number of our NHS staff and front-line care workers are losing their lives as they battle for the health of the nation.

The UK Government announced on Monday 27 April that the families of front-line staff would receive £60,000 as a death-in-service style insurance plan if a member of the team lost their lives whilst helping others. More on this time limited offer can be found here:


Our thoughts and support are with everyone doing all they can in these times of crisis.

The need for this additional life cover is tragic, but welcome, although some have already criticised the new plans, noting fairly that no amount of money could replace a loved one, and I am sure most of us would agree with this sentiment.

However, it does bring into focus the financial shortfalls that could beset a family in the event of the sudden death of a loved one. We know that all life can be fragile, and now that you might have a bit more time than usual available to you, it might well be worth checking what cover you have in place to protect the family if you were to die.

Now, sure you might think, 'I've got a life policy on the mortgage!', but what else might protect your loved ones?

  • Does your employer offer you death-in-service cover? Perhaps 2 or 3 times your base salary? If you're not sure, have a look at your employment contract.
  • Do you have a pension value that would be paid out to whoever you nominated free of tax?
  • Is any life cover you have written in trust to pay out quickly and to the person or people you want it to go to?
  • Overall, does the total amount that could pay out if you died meet the needs of your family?

Just some basic questions, but you might guess very important.

Please keep safe all!

No individual advice is provided during the course of this Insight.