We spend everything we earn: where do we find money for protection, and in what order do we do things?

There is no right percentage for everyone, and be wary of anyone who gives you a number. Start from what your family would need if an income were missing, and from what your budget can carry. Simple cover for the important things is better than an expensive one you will stop paying.

An order that helps many: first a small reserve, then protection for those who depend on you, then a bigger reserve, and after that pension and investing. It is not a law; it is common sense. The suitability of any investment product is judged by a licensed advisor.

Start with a monthly budget for two months: subscriptions, double charges or small costs that add up often show. Check whether you pay twice for the same cover. Simple term life cover usually costs less than you imagine.

Usually both, in small amounts. A small reserve protects you from everyday surprises; basic protection from the big ones that a reserve could not cover. If you have children or a loan, protection should not wait long.

One page: who calls whom, where the policies are and who the beneficiaries are, which payments run, who looks after the children, where the will is. Give a copy to a trusted person. Update it once a year.

IDs and certificates, policies with numbers and contacts, bank and loan details, the provident fund, property deeds, the will, and a list of access details kept somewhere safe. Keep encrypted digital copies, and tell someone where they are.

A will is not only for fortunes; it helps make clear what you want, and if you have young children, to say who should look after them. Without a will, the law of succession applies. A lawyer can tell you what is needed.

They do different jobs. Paying early reduces the debt but ties up money you may need; insurance protects the family if something happens before the loan ends. Ask the bank whether early repayment has a cost, and always keep a reserve.

Make a list: what each covers, for whom, until when, at what cost. Duplicates from work, the bank or cards are often found. The “Annual review of the policies you hold” tool helps you see them together.

With priorities: first the protection that would be missed most, such as simple life cover for the parent who brings in the income. Leave the “would be nice” items for later. And look at the policies again every year, because needs change.

There is no single right way. Usually each needs life cover matching their own income and responsibilities, and it is good for each to have access to money if the other cannot help. Most important is that you both know what exists and where.

Well done. If you do not yet have a reserve, start there. Then check whether protection is missing for those who depend on you, and after that think about pension and investing. For investment products, suitability is judged by a licensed advisor.

For small surprises, it may be. For the big ones, such as a death or a long illness, the question is whether the family can support you for years without putting itself at risk. An honest talk with them shows what is realistic.

It may be, if it gives you a clear picture. Check that they are registered for what they advise on, and ask how they are paid: a fee from you, commission, or both. For insurance intermediaries, the IDD requires them to tell you before the contract.

Yes, in 2026 too: life premiums are deductible up to 7% of the sum insured on death or incapacity, and all the related deductions together cannot exceed 1/5 of taxable income. Contributions to approved pension and provident funds are deductible up to 10% of income. Ask the insurer for the yearly certificate, and a tax adviser for the calculation.

Usually whoever’s income would be missed most, and whoever’s care would cost a lot to replace, such as the parent who stays with the children. Children rarely need life cover; they need parents who are covered.