Everyone should have savings for a rainy day. Here are our 5 tips
Figuring out how much cover you need is straight forward provided you have all the facts. It is simply a question of knowing what income your dependents will need, what cover you currently have , and then doing the calculation to decide how much additional cover you require and can afford. First, figure out what your debts are. What is the balance on your mortgage? How about your credit card? Do you have any personal loans or other outstanding obligations? Additionally, consider the cost of your own funeral and any other expenses that may arise upon your death.