Financial responsibilities still continue for a number of years and this poses a challenge should illness or death affect the family.
It makes sense, therefore, to have a financial safety net in place just in case the unthinkable does happen.
But rather than waiting until they are middle aged, consumers should be encouraged to take out financial protection when they are young.
For a start it’s cheaper. There is less likelihood of existing conditions that could add an extra premium to the cost and you only have to look at providers’ claim statistics to realise there is a need for people to have insurance at every stage in their lives.
There has been a lot of debate around Britain’s ageing population and the effect this will have on the economy, with people living longer now than previous generations did.
However, families must think carefully about their individual circumstances and the impact a critical illness could have on their family’s future.
A record number of people will be celebrating their half-century this year and many will still have financial responsibilities for years to come.
So if they haven’t already done so, suggest to your customers that they should put contingency plans in place now.