Field Notes · 2026-01-08
Life and income cover for young households
How to size cover against a mortgage and childcare costs without buying policies you will later ignore.
Young families often focus on the deposit and monthly mortgage payment, then leave protection for 'later'. A clearer approach sizes cover against the debts and living costs that would remain if income stopped.
Term life insurance linked to the mortgage term can clear the loan. Separate family income benefit or critical illness cover may address childcare and household bills.
Employer death-in-service benefits are useful but usually end when you leave the job. Treat them as a bonus layer, not the whole plan.
Write down who would need money, for how long, and which existing policies already apply. That list prevents overlapping cover and expensive gaps.
During a mortgage advice meeting we routinely ask about protection so the loan and the safety net are discussed together, not weeks apart.