Archive update: this article previously used older survey figures and State-support amounts. Those figures are not current estimates of income, childcare costs or benefits, and should not be used for a present-day financial decision.
A household’s financial plan should reflect the contribution of everyone involved, including paid work, unpaid care and shared responsibilities. If you or someone close to you could not work, became seriously ill or died, consider which costs would continue and what support is already available.
Questions for a family protection review
- Who depends on each adult’s income or caring role?
- What mortgage, rent, childcare and other essential costs would remain?
- What savings, employer benefits and existing policies do you have?
- How long would any support need to last?
Life Insurance, Critical Illness Cover and Income Protection respond to different events. A valid claim, benefit amount, waiting period and exclusions depend on the particular policy. None guarantees that every household cost will be met. State benefits and tax treatment can also change; check current official information or seek appropriate professional advice rather than relying on historical figures in an archived article.
Talk through the options
Start a protection enquiry if you would like an adviser to discuss the personal cover options with you. The form requests a call and does not produce an instant online quote or guarantee an insurance outcome. You can also contact IM-Insured with a question.
