Increase life insurance cover to keep pace with your liabilities

Convert policies into 'paid-up' if internal rate of return is below promised levels

At this time of the year, it is customary for people to check their investment portfolios. A similar check should also be run on the insurance portfolio. Changes that need to be made should be noted down and implemented right away, or at the time of renewal.  

Life insurance

The first and most important check you must run is to see if you have adequate life cover. As a rule of thumb, your life cover should equal 10-15 times your annual income. If your circumstances have changed, you may need to change the coverage amount. If your income has risen, bump up