This is real long term planning and very often easy to procrastinate and delay. We did the same for the first four years. Eventually, we got going.

One of the first things we did was to create a Will (its a long process but makes you think about who would take responsibility for your kids if you are not around and identifying the caretakers)

Next, we got ourselves life insurance coverage (one of the main things is to figure out how much coverage you will need and we went for the Term option).

However, we are still working on the college savings plans.

The steps taken by you is really a good one to ensure your child’s future. However the next step that you can take is to avail a child plan that will help you provide financial protection for your child’s key stages.