07/07/2026
Most couples assume everything would just āwork itself outā if something happened to one of them. The reality is, without the right plans in place, it often doesnāt.
Here are a few things worth thinking aboutā¦
ā¢ Pension Expression of Wish
If you havenāt nominated your partner to receive your pension benefits, are you confident the money would go to the person you want it to? Itās a simple form that many people forget about, but it can make a huge difference.
ā¢ Life Insurance
If one of you passed away, would the other be able to afford the mortgage, rent, bills and everyday living costs without your income? Life insurance can provide a lump sum to help protect your familyās financial future.
ā¢ Family Income Benefit
Instead of one large payout, this pays a regular monthly income for a set period. If your partner relies on your income each month, would an ongoing payment make life easier than managing a lump sum?
ā¢ Critical Illness Cover
A serious illness doesnāt just affect your health - it can affect your finances too. Would you have enough money if you needed time off work, private treatment, home adaptations or simply wanted to reduce financial stress while you focused on recovery?
ā¢ Income Protection
Your biggest financial asset is often your ability to earn an income. If illness or injury meant you couldnāt work for months or even years, how would the bills be paid? This is especially important if one of you is the main breadwinner.
Every coupleās circumstances are different, which is why thereās no one-size-fits-all solution. The right protection depends on your income, your family, your mortgage, your savings and the lifestyle you want to protect.
If youāve never reviewed your financial protection together, it might be time to ask whether you have the right cover in place, or if youāre simply hoping for the best.
Like useful money content from a qualified Financial Adviser? Drop a follow š«”
