11 November 2025
When a family should revisit life cover and income protection
New children, a mortgage change, or a shift to self-employment are common moments to check whether existing cover still matches the household.
Many households take out life cover when they buy a home and then leave the paperwork in a drawer for a decade. That habit is understandable, but it often means the sum assured, the term, or the income protection level no longer matches how the family actually lives.
A useful review moment is any change that alters who depends on whose earnings: the arrival of a child, a move from employed to self-employed work, or one partner reducing hours for caring responsibilities. Those shifts change both the amount of income that would need replacing and how long that replacement might be required.
Another quiet trigger is mortgage remortgage. If the outstanding balance has fallen, or the term has shortened, the old cover may be oversized — or, conversely, if you have extended the loan for a renovation, it may now be thin. Matching cover to the remaining debt is only part of the picture; funeral costs and a period of household adjustment still matter.
Bring policy schedules, not just renewal letters. Note who owns each policy, whether premiums are reviewable, and whether any exclusions were applied at underwriting. A short conversation with an adviser can then focus on gaps rather than guesswork.
If you are unsure whether a review is due, ask yourself whether anyone who relies on the household income has changed, or whether the mortgage and childcare costs look substantially different from when the cover was arranged. Either answer usually means it is time to look again.