Protection Cover | Why January Is the Perfect Time for a Review

When people think about financial planning, protection is often overlooked, until it’s urgently needed, when it’s too late, or impossibly expensive.  

January, with its focus on fresh starts and future planning, is one of the best times to review whether your cover still truly fits your life. 

Life changes…

Over time, many things can change: 

• You may have bought a home 

• Started or grown a family 

• Changed jobs or become self-employed 

• Taken on new financial commitments 

If your protection hasn’t been reviewed since one of these changes, it may no longer provide the level of support you’d expect. 

Common protection gaps 

It’s surprisingly common for people to discover gaps in their cover, such as: 

• Life insurance that no longer reflects current debts or family needs 

• No income protection in place if illness or injury stops them working 

• Critical illness cover that hasn’t kept pace with rising costs 

These gaps often only become apparent at the worst possible time. 

Understanding the types of cover 

A review isn’t about adding unnecessary policies, it’s about understanding what you already have and whether it’s still appropriate. 

This may include: 

• Life Insurance to support loved ones financially 

• Income Protection and Family Income Benefit to help replace earnings if you’re unable to work 

• Critical Illness cover to provide a financial buffer following serious illness 

Each plays a different role, and the right combination depends entirely on your circumstances. 

Why review annually? 

Just like all parts of your finances, protection should be reviewed regularly. An annual check helps ensure: 

• Cover levels remain appropriate 

• Policies are still affordable and relevant 

• You have peace of mind knowing you’re protected if the unexpected happens 

Not sure if your protection still fits your life?

According to industry research, millions of UK adults are underinsured, often because their life and protection cover hasn’t been reviewed following major life changes such as buying a home or starting a family (source: Association of British Insurers). 👉 Fill in our form, or call us on 01384 390909 or email office@kgjinsurance.com to book a no-obligation, free of charge chat with a KGJ adviser. We’ll discuss your current protection situation and requirements, and put together our recommendations so you can start the year knowing you and your family are properly protected.