Life involves exposures to many risks and it is not possible to avoid all the dangers and difficulties that it can bring. On the other hand it is possible to take sensible precautions against the impact of risks that affect people, their lives , their health , their possessions , their finances and their businesses. Many people however make little or no provision for minimising the financial consequences of serious illness , accident and even death.
For most families , it is income rather than savings that enables them to enjoy their standard of living . Loss of that income due to serious illness , injury , accident or even death of an earner usually causes a reduction in a family's standard of living .