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Protection at different stages of your life

Protecting what matters usually involves having to balance the cost of protection with the risks you face. Everyone is different, but there are a number of specific life stages where certain insurance cover or protection may be particularly relevant.

Here are some illustrative examples:


Roland is a 30 year old college lecturer, living with his partner Jess. They recently bought their first BTO (build-to-order) flat with a bit of help from Jess's parents, and are expecting their first child.

He wants to have peace of mind that his new family will be safe and protected from whatever life throws at them.

Roland and Jess have taken out life insurance. As a precaution, Roland also has income protection and critical illness cover, which could help their growing family if he is made redundant or becomes ill.

As well as insurance, both Roland and Jess have made a will, and they each pay into retirement savings-plans.

John and Rachel

John and Rachel are both in their 60s, with John still working full-time and Rachel part-time. They have two daughters and a son, all of whom have left home and started families of their own. They have four grandchildren.

John hasn't always been in the best of health, and private healthcare has reassured him that he and Rachel would always be well cared for. They both have life cover, which will protect either of them if the other passes away.

John has calculated that his retirement savings – along with their insurance policies – will enable them both to retire comfortably at 65. They both have a will.


Jeslyn is in her 40s, works full-time and has two school age children. She recently separated from her partner and has moved into a new home close to her work.

Jeslyn's home is rented, so buildings insurance is the responsibility of the landlord. However, she has contents insurance, including specific cover for a few items of jewellery that had belonged to her mother.

She is planning a special holiday this year for her and the children, so has been shopping around for travel insurance as it's not provided through her bank account.

She has been paying into a retirement savings plan, which her workplace contributes to, but she plans to increase her payments into the plan from now on.

She's also recently reviewed her life cover arrangements with her ex-partner to ensure the children's future continues to be protected.

These are examples to get you thinking about what protection you may need for you and your loved ones. It's a good idea to do your own research and if you're unsure of what's right for you, ask for professional help or advice.


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