• If the worst was to happen, could your household manage without your income? Could your family continue to have the same standard of living and could your children afford to go to private school or university?

• Even if you have no dependents, the cost of a funeral could be more than you think and who would pay your mortgage?

• Lyles’ Independent Financial Advice has access to a wide range of life insurance providers who offer flexible policies that can provide replacement income and/or a lump sum on death.

• With recent advances in medicine, some people are living longer after diagnosis of an illness, and are having to make allowances for the effects of living with the illness for longer

• If funds were required to pay medical bills and/or to make alterations to your home, could you manage?

• Whether an illness is critical or not, a prolonged absence from work due to illness could easily cause financial hardship.

These plans typically have no cash in value at any time and will cease at the end of the term. If premiums are not maintained, then cover will lapse.

Plans may not cover all the definitions of a critical illness. The definitions vary between product providers and will be described in the key features and policy document, if you go ahead with the plan.

Lyles’ IFA can advise you as of suitable insurance policies to guard against these eventualities, which may include policies that can provide replacement income and/or a lump sum.