I've received an inheritance — does it change my protection needs?
Life insuranceCritical illness coverIncome protection
The short answer
It might. An inheritance could reduce your debts or give your family savings to fall back on, which may mean you need less cover. But it does not replace ongoing income, and money can be spent. Review what your family would need before reducing or cancelling cover.
Inheritance tax
A larger estate could mean your own family faces inheritance tax. Life cover in trust is sometimes used to help with this.
Paying off debts
If you repay a mortgage, you may be able to reduce mortgage-linked cover.
Get advice
An adviser can help you balance savings, debts and cover.
Sources
This article is general information about UK protection insurance, not personalised financial advice. Policy terms vary between insurers and products, so always check your own policy documents.
Last updated 27 October 2026