Portfolios
The family portfolio: protection first, points second
An illustrative £12,000 annual-spend household: one protection bundle, everyday payments and fewer duplicated benefits.
Perkfolio editorial · 5 min read · Reviewed
Illustrative image; not a specific provider’s facility or benefit.
The short answer
For a family, build around suitable cover and ordinary bills before chasing premium rewards.
The scenario: £12,000 of annual eligible spending
Imagine a household taking a couple of holidays, paying for mobile phones and owning a car. £12,000 is an illustrative spending assumption, not an income requirement, a reward forecast or a recommendation to spend more.
The candidate portfolio is one suitable protection package plus an everyday payment product. You do not need a second paid bundle just because it has a different brand.
The anchor: compare FlexPlus with Max family cover
Nationwide FlexPlus is £216/year and includes family travel, phone and breakdown cover. Monzo Max with family cover is £276/year and also lists lifestyle benefits. That is a £60 annual fee difference; whether it is worth paying depends on insurance suitability and benefits the family actually uses.
Check each insurer’s definition of family, ages, trip duration and medical conditions before comparing cost. A cheaper policy that does not cover your household is not the better choice.
The payment layer: start without another annual fee
Compare a no-annual-fee payment option such as Barclaycard Rewards or Chase against your existing account, checking current eligibility, foreign-use charges and any reward conditions. Neither is presented here as a guaranteed cashback winner.
At this spending level, a premium reward card needs a specific case. Do not assume points will recover a fee: acceptance, eligible spending and redemption choices all affect the outcome.
A portfolio to investigate, not a universal ideal
Shortlist FlexPlus OR Monzo Max family cover, then one suitable everyday payment product. The example’s known protection fee is £216 or £276 annually, before optional upgrades and any other costs. It does not imply a net saving.
Count household protection once. Then use Perkfolio’s comparison to select only benefits you will use, and compare the recurring fee without a welcome offer before applying.
Sources & checks
Official provider pages used for this dated comparison. Their current wording may differ from the article. Product pages are not a substitute for the full insurance policy or benefit terms.