I've taken a large personal loan — does it matter for my cover?
Life insuranceCritical illness coverIncome protection
The short answer
It can. A new debt adds to what your family would need to repay or keep paying if you died or could not work. Check whether your existing cover would still meet your debts and living costs. Some loans offer their own payment protection, but it may be limited.
Joint debts
If the loan is joint, your partner could be responsible for the full amount.
Short-term need
If the loan runs for a few years, a short-term or decreasing policy may be enough.
Income protection
Monthly loan repayments can be hard to meet if you are off work. Check your income 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