Most of us go to work and over our working lives hope that our incomes will increase, as our income increases, typically so does our spending. Many of us will move to a bigger home, have families or treat ourselves to luxury holidays or cars. This makes us ever more reliant on our income to pay for the things that we have worked hard to acquire.

According to a study by the department for work and pensions in 2014 every year, almost a million people in the UK suffer an injury or a serious illness that means they can’t work for a month or more. If you were among them, would you be able to cover your day-to-day bills without your full regular income to rely on?

If we take an example of a 41-year-old male accountant with an annual income of £50,000. Before his anticipated retirement age of 68 the chance of dying is 5%, the chance of him suffering a critical illness is16% but the chance of being off work two months or more is 30%