Family Protection

Start with the life your family depends on

Family protection is a review of your household's needs, rather than a single insurance policy. The right combination of cover depends on who relies on you, what it costs to run your home and how those commitments might change if someone became ill or died.

We look at both paid work and unpaid responsibilities. The loss of a parent who provides childcare or manages the household can create additional costs, even if they do not earn a salary.

Different risks call for different cover

Life insurance can provide a benefit on death. Critical illness cover can pay a lump sum after a qualifying diagnosis, while income protection can provide a regular benefit when illness or injury prevents you from working, subject to the terms of the policy.

We explain how these options can work together and where cover overlaps. Existing workplace benefits, savings and policies are part of the review, so the recommendation is based on the gaps that remain.

Set priorities around your budget

Think about essential spending first, then longer-term goals such as education or supporting dependants. Cover amounts, policy terms and waiting periods should reflect those priorities and what you can afford to maintain.

• Mortgage or rent and other household bills
• Childcare, caring responsibilities and dependants' needs
• Existing insurance and employer benefits
• Savings, debts and regular financial commitments
• Your budget and the milestones you want to protect

Keep the plan in step with family life

A new child, a change in work or a move can alter the protection you need. Reviewing your arrangements at these moments can help identify gaps or cover that no longer fits.

Your adviser explains the recommendation, exclusions, underwriting and costs before you decide. Where appropriate, we can discuss policy ownership and trust considerations, with legal advice sought where needed.