Obtain a written schedule of the employee benefits that end, the exact cessation dates and any partner replacements. Review the household need for income protection, life cover, critical illness and medical insurance before applying. Replacement cover can require medical and financial underwriting, so begin before existing benefits stop and avoid cancelling anything until new terms are confirmed.
Request the benefits schedule in writing
Ask HR or the partnership team to identify every benefit, who provides it, the insured amount, the end date and whether continuation or conversion terms are available. Include pension contributions, death-in-service, long-term disability or income protection, sick pay, private medical cover and any family benefits.
Review risks in household order
- Income stopping: which essential and important commitments continue if illness prevents work?
- Death: what capital or income would dependants need, after allowing for existing assets and liabilities?
- Serious illness: would a lump sum be needed for debt, care, treatment or lifestyle changes?
- Medical treatment: what level of private cover, if any, does the household value?
- Retirement funding: what employer pension funding ends and what personal process will replace it?
Keep existing arrangements in force until replacement terms, exclusions, premiums and start dates are confirmed. Individual cover may not match workplace cover.
Compare terms, not just premiums
Income-protection policies can differ in the definition of incapacity, deferred period, benefit escalation, payment term and exclusions. Life and critical-illness contracts also vary. The cheapest premium is not a complete comparison.
Review again after the first partner year
Initial cover may be based on estimated earnings and commitments. Revisit the position after actual drawings, tax and household spending are clearer, and whenever partnership debt or major family responsibilities change.
Frequently asked questions
When should replacement cover be reviewed?
Start several months before the employment benefits are expected to end. Underwriting and evidence gathering can take time, and existing cover should not be cancelled until replacement terms are understood.
Should every workplace benefit be replaced exactly?
Not automatically. Review the household need, existing personal policies, savings, partner benefits and the consequences of each risk before deciding on type and amount of cover.
Sources and review notes
This briefing uses primary or public-service sources. Rules and their effects depend on individual circumstances and can change.
- MoneyHelper: personal insurance when self-employed
- MoneyHelper: income protection insurance
- FCA: checking a financial firm or individual
Published: 23 August 2026 · Last reviewed: 23 August 2026
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