-5. Have a Life Insurance Policy
What would happen to your children if you were not here anymore? Having adequate life insurance will protect your children if you passed away giving you peace of mind in knowing that your children’s financial future will be secure. A good guideline to follow is to purchase cover, dependent on your affordability and circumstances, that pays out between ten to twenty times your annual salary, this way you know that their and your partner’s future needs will be sufficiently catered for.