How much is enough?
You can protect yourself, your earning capacity, and your family from the impact of unforeseen events with the following types of insurance:
The trick is to identify which type of cover suits you, when’s the right time to get it and then to make sure you have enough.
There are many factors that affect how much cover you need, for instance to ensure your family is protected if you were to pass away you may want to have enough cover to allow them to:
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Pay off their mortgage and any other outstanding loans.
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Maintain their current lifestyle, as you are no longer earning an income.
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Plan to meet the cost of your children’s education.
The best way to identify how best to protect yourself and your family is to talk to a financial planner.