Is your life assurance still fit for purpose?

Many people assume that once life assurance or protection is in place, it can simply be "set and forget". In reality, research consistently shows that most UK adults do not review their protection regularly, often going several years without checking whether their cover still meets their needs.

This can lead to unexpected gaps, which are frequently only discovered at the point of claim — when it matters most.

Common gaps we regularly identify

During routine reviews, we often uncover areas where existing cover may no longer provide the intended level of protection:

• Life cover no longer aligned to the outstanding mortgage balance.
• Policy terms ending before children become financially independent.
• Older critical illness definitions that may not reflect current medical standards.
• Policies not written in trust, potentially leading to probate delays.
• One partner underinsured — or not covered at all.

These issues are rarely intentional. They usually arise simply because circumstances have changed over time.

When should you review your cover?

You may benefit from a review if any of the following apply:

New home or mortgage

If you've moved home, remortgaged, or increased borrowing, your existing cover may no longer match your financial commitments.

Starting or growing a family

Children significantly increase long-term financial responsibilities. Many policies were originally set up before family circumstances changed.

Marriage, separation or divorce

Relationship changes can affect who depends on you financially — and who should benefit from your cover.

Career or business changes

A new role, becoming self-employed, or starting a business can alter income security and employer benefits.

Policy anniversary

Even without major life events, a regular review helps ensure cover keeps pace with inflation and remains appropriate.

It's been over three years

If you can't remember the last time your policies were reviewed, it's a sensible time to check them.

Why older policies may no longer provide the protection you expect

Outdated definitions

Medical understanding evolves. Older critical or serious illness policies may have stricter or less comprehensive definitions, which can affect claims outcomes.

The impact of inflation

As a simple illustration, a level sum assured arranged several years ago may now cover significantly less in real terms. Without checks, protection can gradually lose its effectiveness.

Missing trust arrangements

Policies not written in trust can lead to delays while probate is completed and may increase inheritance tax exposure — an oversight that is usually easy to rectify. See our guides on writing a policy in trust and Expression of Wishes.

Changes to borrowing

Many policies were originally designed to match an initial mortgage. If borrowing has changed, cover may no longer be sufficient.

A simple sense-check

A review isn't about making changes for the sake of it. It's about confirming:

• Do your current policies still meet your needs?
• Are there any gaps, overlaps, or inefficiencies?
• Could benefits be improved or simplified?
• Is everything structured correctly for your family?

In many cases, clients are reassured that their cover remains appropriate. Where changes are needed, these can be discussed clearly and objectively.

Why reviews matter — and taking the next step

A protection review is quick and straightforward but can make a meaningful difference. It ensures your existing cover continues to protect your income, family and home as intended, giving reassurance that everything remains fit for purpose as circumstances change.

If you'd like us to review your arrangements or answer any questions about your current policies, we're here to help.