Your mortgage is likely to be one of your biggest financial commitments, but it is easy to forget that your wider protection needs can change over time.
If you arranged life cover, critical illness cover or income protection when you first took out your mortgage, the cover may have been suitable for your circumstances at the time. However, your life may look very different now.
You may have moved home, changed jobs, become self-employed, started a family, increased your borrowing, reduced your working hours or taken on new financial commitments. Any of these changes could affect the type or level of protection you may need.
A mortgage review is a good opportunity to look at this again. If your current mortgage deal is coming to an end, or you are thinking about remortgaging, borrowing more or changing your mortgage term, it may also be sensible to review whether your protection arrangements still fit your circumstances.
Protection is not just about helping repay the mortgage if the worst happens. It can also help provide financial support with everyday household costs, bills, childcare and other commitments if you are unable to work because of illness or injury, or if your household income changes unexpectedly.
For example, life cover could help repay the mortgage or provide financial support for loved ones if you died during the policy term. Critical illness cover could pay out if you were diagnosed with a serious illness covered by the policy. Income protection could provide a regular income if you were unable to work because of illness or injury, subject to the terms of the policy.
The right protection will depend on your circumstances, budget, employer benefits, existing cover and financial responsibilities. It is also important to understand what is and is not covered, as policies can vary.
There are also different ways protection can be arranged. The amount of cover, length of the policy, waiting period, whether payments stay the same or increase over time, and whether cover is arranged individually or jointly can all affect suitability and cost. This is why it is important to review protection in the context of your needs, budget and existing arrangements.
You may already have some protection in place through your employer, such as sick pay, death-in-service benefit or private medical insurance. These benefits can be valuable, but they may not provide the same level of cover as a personal policy. They may also change if you move jobs or become self-employed.
It is also worth checking who your policy is designed to protect. If your circumstances have changed, you may need to review the amount of cover, the policy term, the type of cover, or whether the policy should be written in trust.
Reviewing your protection does not always mean taking out something new. It may simply confirm that your existing cover is still suitable. However, if there are gaps, it is better to understand them before you or your family need to rely on the policy.
If you already have protection in place, it is important not to cancel an existing policy without taking advice. A new policy may be more expensive, may include exclusions, or may not be available on the same terms, especially if your health, age or circumstances have changed.
If your mortgage, income or family circumstances have changed since you last reviewed your protection needs, now is a good time to speak to an adviser. They can help you understand your options and consider what may be appropriate for your needs and budget.
Please get in touch if you would like to review your protection needs. We can help you consider whether your current arrangements still support your home, your family and your wider financial plans.
Availability and cost of cover is subject to criteria such as age, lifestyle, current health and medical history.
All the information in this article is correct as of the publish date 30th April 2026. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content, and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.
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