Are you protecting the one you love? asks Natalie Banks of Network Mortgages, pictured right.

This Valentine’s Day many of us will spend a fortune on flowers, chocolates, food, drinks and treats for our beloved.

I'm all for a celebration of love, it’s great to remind ourselves of why we chose our partners, and focus (even if it’s only for a day!) on their special qualities.

However, ensuring they are protected financially is an often forgotten aspect of taking care of our loved ones.

If something happened to you, even if you’re not the primary earner, and particularly if you have a mortgage and children with your partner, would they have the financial buffer in place to avoid a financial struggle?

This buffer would need to be enough to cover not only funeral and estate tax expenses, but could include day to day expenses such as future childcare, mortgage payments, monthly bills, food, clothes and leisure activities.

The financial implications of the death of a partner can be devastating, and add huge stress to an already traumatic experience.

If the worst happens to you, your life insurance will pay out a lump sum payment to your family, which could make a massive difference to their future. It could for example repay your mortgage, and pay for childcare allowing the remaining parent to work and support the family, or allow for luxuries like days out and holidays. Life insurance policies come in different shapes and sizes, and can be chosen to suit your needs as a couple or as a family.

There are also other forms of insurance you could consider.

An income protection policy will pay out a benefit amount after a deferred period and will continue to pay this benefit if you are unable to work in your own job due to accident, sickness or disability until the end of the term.

A serious or critical illness insurance will pay out a lump sum on diagnosis of a ‘serious’ illness. In short, knowing you are prepared for every eventuality offers peace of mind, even if you never need the policy.

And these days some life insurance policies even come with rewards, so the benefit of the cover is more immediate. The cost of the cover can be very inexpensive.

For more information contact Natalie Banks, Network Mortgages on 01273 493722, or email natalie@network mortgages.biz