Question: I FINALLY sat down to review our household budget and I’ve discovered we have insurance cover for a few things and I’m not even sure what they are, or if we need them. We have mortgage protection with our bank since we took out our mortgage 15 years ago. My wife has serious illness cover from €50,000 paid by her employer. And I took out an income protection policy seven years ago, but I’m also paying for serious illness cover of €70,000. Do I need both? We have two children in school.