Life insurance and having all your personal documents in order is really important. Consider the following scenario, which unfortunately can happen to anyone of us. “Oh dear, what am I going to do? My husband was passed away unexpectedly in a car crash. I have no idea of his finances, his papers, his passwords, last will and testament, and even whether he has life insurance to look after us financially now that he’s gone!”
Naturally, nobody wants to find themselves in this position! So the million dollar question is: “What now?”
The Sonja Smith Elite Funeral Group, for instance, provides what they call a ‘life file’, which contains all the vital documents that your family requires after you pass away.
It is important for a husband and wife to make sure their children/ family members know the exact location of their life file and its contents before they pass away. Imagine how much less traumatic it would be for your loved ones if, upon your death, they were able to easily locate your life file with all the right documentation inside? No hassle, no uncertainty and no hunting for critical documentation. This is really the least we can do for those we leave behind.
Let us look at some of the papers and documents that are essential when a loved one passes away unexpectedly. I’m convinced that many of you might be shocked by this.
This may seem like a silly question, but the reality will really hit home when a loved one dies unexpectedly. At the passing of a person, a whole lot of administrative procedures need to be completed that will required certain information. Most important of all are the personal wishes of the deceased individual. These are recorded in the life file.
The list is of course quite long and tedious, as it would have to cover many different types of scenarios. Some of the documents are shown below that will provide you with some idea of what you may need to collect for your own life file.
In the event of someone passing away suddenly, things can sometimes become really tricky for those who are not prepared. For instance, there is the case of a husband and father, who suddenly departed from this world. The house was in his name, and so within a short period of time after his departure, the ownership of the property had to be transferred to a new owner, who was the wife in this case. Unfortunately, there was no life cover policy in place. This meant that unless the family could raise the fees for the transfer of ownership themselves, they would have to be put out onto the street as it were, and lose ownership of the house. Most fortunately, the family managed to scrape together sufficient finances to cover the transfer fees.
If the above-mentioned family had been more prepared by having taken out life cover well in time, they would have not had to face such additional trauma apart from just losing a husband and father. Life insurance pay-outs can potentially help cover a sudden loss of income or hospital costs, or other debts that need to be settled immediately. It’s great to have that peace of mind that you have a life insurance policy tucked away in your life file. Those who are left behind will be able to immediately access your life file, and will be able to kick start things straightaway because all the documents are neatly in place.
Finally, the above-mentioned sad family scenario could have been avoided if there had been a life file drawn up in the first place. By going down the document check list inside the life file well before anything happens, you can make sure that all the required documents are in place. It’s bad enough for your family who is left behind to no longer have you around, let’s not add to their trauma by not having the right documents in your life file!
Health24 recommends some tips after your loved one has passed away:
So what are you waiting for – go and start filing away those papers in that life file of yours!