Maybe I need to reassess. I didn’t take the redundancy element as I’m confident that’s not a concern, but there’s a whole host of instances where you could be incapacitated and not able to work (the bike example was just one), and when my salary was the sole contributor to my mortgage (which I guess is now not the case), being off work was a real concern.
Especially with my upbringing, where my dad had serious health complications and was unable to work for years. My parents very nearly lost our home (family stepped in, but not until black marks on credit scores - I only became aware of this when I turned 18 and my mum had to tell me if I applied for credit at our address I may get rejected as I have the same initials as my dad did) and we were living hand to mouth. The fear of something (whatever it may be) meaning I was unable to work semi-permanently is a legitimate concern.
Although, as I say, now I’m engaged and on a joint mortgage, maybe I need to reassess as to whether that’s the right protection to secure my fiancées future. The £500k death in service at work would just about pay off the mortgage, so we’ve got that covered.