Life insurance

Life insurance is important once you have children. It could help your family cope financially if you died. You may have some life cover through your job, such as a lump sum of two to four times your earnings. This could be part of a pension scheme or a separate arrangement. Check with your HR department. If you need extra cover, term insurance is usually cheapest – but get advice from an independent financial adviser (see www.unbiased.co.uk). To shop around for yourself, use several comparison websites.

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