1. Insurance is an absolute must. Don’t delay that cover. Make sure it is adequate.

2. Use insurance to save tax, but choose an amount and policy based on your future worth (sum of future earnings till you retire). Better still, choose one based on the amount your family needs to maintain its lifestyle after you.

3. The riders in the insurance policies are worth considering. Make sure the critical illness rider figures in yours. It covers a few major illnesses such as cancer, heart disease and stroke, and takes care of the loss of income due to these illnesses.

4. Don’t neglect these riders just because the company you work for covers them already. What would happen if you quit your job and took a holiday before looking for a new assignment? Imagine handing over the rented parachute mid air and hunting for a new one!

5. Get financially savvy. Meet your financial advisor regularly and stay informed. Regular reviews of portfolio prevent unpleasant surprises.

6. Life is not constant. Why should your cover be? Update, revisit and revise your insurance policies at every significant milestone in your life.