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The impulse to protect our loved ones is one of the most basic instincts a person can have. Yet the fact remains that many people don’t take out sufficient insurance to protect themselves and their family should something happen to prevent them from being able to work. And if the main breadwinner in a household suddenly becomes unable to earn a wage, it can very quickly lead to serious financial hardship.

So how do you protect yourself against the financial risks associated with disability, accident or death? Life Insurance is the most common form of protection, but most policies don’t provide cover for accidents or sickness. You can purchase Accident, Sickness and Unemployment cover, but this tends to provide just short term protection, typically for a period of 12 months, and that’s unlikely to meet your needs should you suffer a life-changing event like a serious accident.

So what are the options? Income protection insurance is, in many respects, the most basic insurance of all, and can provide for your bills and day-to-day living expenses in the longer-term should the unexpected happen, whether that’s an accident, critical illness or other traumatic event.

Choosing the right kind of protection is critical, but it’s also it’s also important to get the right level of cover, because people’s requirements change as they get married, have children, move jobs or have their terms of employment changed.

So whilst you may have had sufficient protection last year, if your personal circumstances have altered, you may need to review your cover to ensure you have optimal protection. And like most kinds of insurance, if you want to make sure you get the protection that’s right for you, it pays to get the advice of an expert.

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