Tips on insurance
Look at your coverage
Check your premium spend
Keep them within 15 per cent of your take-home pay to balance protection with savings.
Source: MoneySense
Aim for life insurance that covers nine times your annual income for death or disability, and four times for critical illness. Note that for the same level of protection, term life insurance typically costs less than whole life insurance.
Save first
Aim to save at least 20 per cent of your monthly take-home pay, or more if you can.
