As a mother of young children, your time is particularly valuable as you fulfil the role of caregiver, nurse, educator, chauffeur and general day-to-day organiser. As your children get older, they need your time less, but their education costs continue to increase, especially if they go on to tertiary education.
When you’re young or don’t have many family responsibilities, you’re likely to prioritise paying off student loans, buying a car, moving out of home and starting a career. At this stage, life cover is seldom top of mind. However, Product Actuary Petrie Marx points out why it’s always best to buy life insurance at a young age – the biggest advantage being lower premiums.
In our highly competitive world, the greatest gift that you can give a child is a good education. Their ability to keep learning and ultimately, pursuing their dreams can help set them up for a successful life.
As time passes, your life changes and it’s vital that your insurance cover reflects the new developments in your life. Henk Meintjes, Head of Risk Products at Liberty, discusses the eight points in your life when you need to review your risk cover.