Please forgive me if this is a silly question, am currently expecting first baby and trying to do up a decent household budget and going through my insurance I am looking to see if I am doing the right thing.
I currently have the following:
Acorn Pension ( I am self employed) 115.00 Eur per month
Laya Healthcare - 120.00 Eur per month for us both
Zurich Life Insurance - 75.00 Eur per month
My husband has properties so he has life insurance covered on them.
No one will know whether you are paying too much without you actually giving the level of cover. And even with that it will depend on your health and age as for the costs of the life assurance.
Health insurance looks as cheap as it is getting though.
Pension - to live on in the future.
Health insurance - medical cover if you are sick
Life cover - protect your family if you die prematurely
If you are self employed, you could argue that you may need income protection as well. If you are unable to work due to accident or illness, you'll get nothing from the State and will your business survive if you unable to work for 1-2 years?
You should also look at your life cover needs too. Pre baby, the only real life cover need is for the mortgage. Post baby, you now have a dependent and the costs that go with that.
The most important thing to ask yourself is what impact will the event have on my life or that of my family. Go from there.