The Protection Gap

Did you know most families are one crisis away from financial hardship? Unfortunately, there are some devastating numbers out there. A parent of children under 18 dies every 20 minutes in the UK, equating to around 127 children newly bereaved of a parent every day. We couldn’t believe these statistics, and we just wish it wasn’t true. But equally, every day on Britain’s roads, more than 80 people are seriously injured. And sadly, more than 403,000 people in the UK are now diagnosed with cancer each year; the highest number on record. We are not trying to scare you. But in our line of work, it’s our job to protect you and make sure your family and livelihood are looked after.

Research published in 2026 by CIExpert, the most comprehensive study of its kind, drawing on the views of 10,000 consumers, found that around seven in ten people had seen or heard nothing about Income Protection in the past year. The same proportion had had no exposure to Critical Illness Cover. This represents an enormous protection gap, and it has barely moved since the equivalent study in 2024.

Three Pillars of Financial Protection

Life Insurance, Critical Illness Cover, and Income Protection are three distinct but complementary products and understanding how they work together is key to building a robust financial safety net.

Life insurance pays a tax-free lump sum to your family if you die during the term of the policy. It is the cornerstone of financial protection. It ensures that a mortgage can be repaid, debts can be cleared, and your family’s standard of living can be maintained. Critical Illness Cover pays a tax-free lump sum if you are diagnosed with a serious condition such as cancer, heart attack or stroke. Policies typically cover 40–50 listed conditions. Income Protection pays a regular monthly income, usually 50–70% of your gross salary, if you are unable to work due to illness or injury. Unlike critical illness cover, it is not limited to a specific list of conditions: it covers any illness or injury that prevents you from working.

The Survival Gap – and Why It Matters More Than Ever

Cover is far more affordable than most people expect. Policies can often be determined solely by the answers in your application form, without a medical examination. And the earlier you arrange cover, the lower your premiums will be. Don’t be part of the 70% who have never considered their protection options. Speak to us today for a personalised review of your life insurance, critical illness and income protection needs. It takes less than an hour and could make all the difference when it matters most.

A Note for the Self-employed and Business Owners

If you run your own business, the stakes are even higher – there is no employer sick pay to fall back on. But there are also significant tax advantages available to you. Relevant Life Insurance, Executive Income Protection and Key Person Insurance are all company-friendly products that could save you substantial sums while delivering vital protection.