Have adequate insurance

For the past 25 years, I have the following insurance:

$1,000,000 in personal accident cover
$500,000 in term insurance cover

Each year, I paid $800 for the personal accident insurance and $1,000 for the term insurance.

Nothing happened to me for 25 years. That's good. I do not expect to get the premium back.

I am glad that I paid the premium for the 25 years, as it provided security for my family. If something did happen, my family would have been well taken care of.

Leave something for your grandchilren

Someone suggested to me that we should leave something for our grandchildren in our will. This will make them remember us.

Another way is to name them as beneficiary in a life insurance policy. You can also take a single premium policy to give the maturity benefit to a grandchild, when the beneficiary reaches a certain age.