You may have a nice house and a nice car and money in the bank but if you don’t have your health then these things mean very little at all. With this in mind, it’s true to say that you are your most important asset and you should do whatever you can to safeguard yourself, and your loved ones from the hurt and upset of your untimely death. One way to ease the burden is to make sure your finances are in good shape at that the ones you leave behind are not going to struggle to live.

There are various ways to ensure your family are financially covered, should you die or just become too ill to continue working, and they include the following:

• Taking out a life insurance or life assurance policy.
• By having critical illness and accident cover.
• By taking out private medical insurance.
• By starting a funeral plan so that the cost of your funeral will be covered in the event of your death.
• By having an income protection plan or mortgage protection insurance.

Obviously having all of these financial products would be a bit excessive but if you can afford them then they are worth considering. At the very least you should invest in some form of life assurance so that your family are guaranteed a sum of money to help with the cost of living following your death.

The best policy however is to look after yourself as well as you can so that you stay fit and strong for as long as possible. Eating healthily, taking regular exercise and making life as stress free as possible will not only help you to lead a happier life, it will also reduce the cost of any life insurance, critical illness cover and medical insurance policies that you do decide to take out. Giving up smoking, reducing alcohol intake to a minimum and refraining from hobbies such as sky diving and motor racing will also help to keep the bills down – and it will help you to live longer!

Obviously no one can say when you’re going to die or become ill or be in a life threatening accident but at least one of these is a certainty. Everyone has to die (sorry to be morbid) but protecting yourself and your family financially will at least take some of the worry away. Knowing that your funeral is paid for and your family are secure can make a big difference to your happiness now and in the future.