Protection intermediary Drewberry Insurance has launched a new Family Insurance tool to help families better understand their financial risks.
Users are asked basic questions about their essential bills, mortgage and children before a guide to their protection needs appears.
Tom Conner, director at Drewberry Insurance said: "This new tool helps people to better understand the financial risks they face as well as providing a simple guide on which products can cover those risks and which options to choose."
The tool, which is for guidance purposes only, then provides the percentage risk of being able to work for 2 or more months and the percentage risk of passing away before age 65.
The tool also recommends appropriate levels of cover for income protection and life insurance and guidance on policy options.
Peter Le Beau, chairman of the Income Protection Taskforce, said: "We know only too well about the low level of awareness of income protection amongst the public. This tool is designed to help people think about more than just life insurance and we would recommend it to any family who isn't sure about their financial protection."
Conner added: "The actual risk of passing away before age 65 is 7 times higher than the public perceive and according to our research 49% of people are choosing to buy protection insurance on the internet, which shows a clear need for online tools to help the public make more informed decisions."
Alongside home and travel cover
Streamlined trust process
Includes remote GPs
Term and Health Watch 2021