Your ability to earn is probably your biggest financial asset. Yet it’s often the one people protect least.
The three questions to start with
- If you couldn’t work for six months, how would the bills be paid?
- If you died, would your family be able to stay in the home?
- If you were seriously ill, what would you want to be free to do?
The main types of cover
Life cover pays a lump sum or income if you die. Income protection replaces part of your earnings if you can’t work. Critical illness cover pays a lump sum if you’re diagnosed with a specified serious condition.
Don’t forget trustsWriting a life policy in trust can mean the money reaches your family faster, and usually sits outside your estate for inheritance tax.
Getting it right
The right cover depends on your family, your work and what you already have in place, including any benefits from your employer. We look at protection as part of your whole plan, not as a separate product.
Last reviewed 15th September 2026. This is for general information only and isn’t personal financial advice. Tax rules can change, and how they apply depends on your circumstances. The value of investments can go down as well as up, so you could get back less than you put in.
