Talk Money Week: Protect your loved ones, start the money conversation

As Talk Money Week (3rd–7th November 2025) encourages us to ‘Start the Conversation’ about finances, Tesco Insurance highlights the reality millions of Brits fear – how would their loved ones cope financially if they were no longer around?

 
Tesco Insurance research also found that:

• Almost three quarters (72%) of UK adults believe their family wouldn’t be financially secure beyond a year without them.
• Two fifths (38%) often think about what would happen to their loved ones if they passed away.
• Nearly a third (29%) say their partner’s ability to manage financially alone is their biggest worry.
• Over half (51%) estimate their family would need at least £1,000 a month to cover essentials, with 21% saying it would be £2,500 or more.

 
To help you be prepared this Talk Money Week, Ban Mahsoub, Partnerships Director at Tesco Insurance and Money Services has shared her tips on protecting yourself and your family financially should the worst happen:

1. Start the Conversation Early

Death and money are two topics many people avoid, but open, honest conversations are essential. Talk with your partner, family members, or dependents about your financial situation, any existing policies, and your wishes for the future. These discussions don’t need to be super formal or overwhelming, just a shared understanding of what’s in place and what might be needed can go a long way in building peace of mind.

2. Understand Your Monthly Costs

Many people underestimate what it actually takes to run a household, and how much. Take time to list out your essential monthly expenses, things like mortgages or rent, energy bills, food, transport, childcare, and even debt. This helps you understand how much support your family would need if your income was no longer there and ensures that any life insurance policy is based on real-world needs, not just rough estimates.

3. Review Your Life Insurance Regularly

Life is always changing, and so should your cover. Review your policy at least once a year or whenever something major happens in your life, such as a new child, a change in income, a house purchase, or a change in your health. Ensuring your life insurance is aligned with your current lifestyle and financial responsibilities means your loved ones won’t be caught short if the unexpected happens. Just like your life, your financial planning should evolve too. Update your beneficiaries, review your cover limits, and make sure your documentation is easy for your loved ones to access in the event it’s ever needed.

4. Seek Professional Advice if You’re Unsure

If you’re not confident about how much cover you need, or if your circumstances are more complex – such as being self-employed, or have dependents from previous relationships, consider speaking to a financial adviser. They can help you tailor a policy to your situation, make the most of your budget, and avoid common pitfalls such as being underinsured or duplicating cover.