Companion Tool · Chapter 3 · The Accountant's Blueprint
Insurance Needs Checklist
A solid floor isn't just cash — it's protection against the things that could force you to spend that cash. Work through three areas below: income protection, life insurance, and critical illness cover. For each, check your employer-provided cover first — many readers already have more than they realise — before deciding whether anything additional is worth arranging.
Your situation
These don't change the checklist below, but they're worth keeping in mind as you weigh how urgent each gap is.
Income protection
If you couldn't work due to illness or injury
Pays a portion of your income if you're unable to work for a medical reason — often the most overlooked cover of the three, and the one most likely to already exist through your employer.
Checked what your employer provides
Group income protection, sick pay policy, or death-in-service — check your benefits portal or HR.
Have personal income protection in place, if needed
Only relevant if employer cover falls short of what you'd need to maintain essentials.
Life insurance
If you were no longer here
Most relevant if others depend on your income, or if you have debt (like a mortgage) that would otherwise fall to someone else. Less critical if no one relies on your earnings.
Checked your employer's death-in-service benefit
Commonly 2–4× salary, paid tax-free to your nominated beneficiary — check your pension/benefits portal.
Have personal life cover in place, if needed
Worth arranging if dependants or debt mean employer cover alone wouldn't be enough.
Critical illness cover
If you were diagnosed with a serious illness
Pays a lump sum on diagnosis of a specified serious illness, regardless of whether you can still work — useful for one-off costs (treatment, adaptations, paying down debt) rather than replacing ongoing income.
Checked what your employer provides
Less common than income protection or death-in-service, but worth a quick check.
Have personal critical illness cover in place, if needed
Consider alongside — not instead of — your emergency fund and income protection.
Summary
A running picture of where you stand across all three areas.
0
Covered
0
Likely gaps
0
Still to check