If you die or cannot work, your bond still has to be paid.

No. You have the right to use your own life cover, new or existing, as long as it meets the bank’s rules. Your own policy can cover more than the bond, so it can also leave money for your family. It stays with you if you move banks.

You give the bank the right to be paid from your policy first, up to what you still owe on the bond. Anything left over goes to the people you have chosen, such as your spouse or children.

The bond still has to be paid, and your family still needs an income. Income protection pays you a monthly amount if illness or injury stops you from working, so you can keep up with the repayments.

Your deposit has one job and a short time to do it. Money you will need in the next year or two should be somewhere stable that you can get to easily, such as a money-market fund. Shares could fall just before you need them.

Yes. Your home is often the biggest thing you own, and your will decides who gets it. Check who would inherit it, and whether there would be enough cash to settle the estate without your family having to sell it.