It Won’t Happen to Me
by We are not invincible, no matter what we think. Bad things do happen to good people and you need to be prepared for the unexpected. Planning for your life is nothing more than ensuring that your family and loved ones will be protected and secure should something happen to you.
Things to Be Considered
- If you should meet your end in a car accident on the way home tonight, is your family’s financial future secure, with adequate life insurance on your life?
- If you don’t die, but are permanently disabled and can no longer earn a living, do you have a disability insurance policy to cover the expenses?
- If you or a loved one is diagnosed with a life-threatening illness, is your medical insurance coverage adequate?
- What about all your stuff? If you don’t survive, who gets what? Now we’re talking about wills and/or trusts.
- If you have pets, what provisions have you made for them should your entire family meet a disastrous end?
- Have you discussed your final arrangements with anyone? That means do you have a prepaid funeral plan, reached a decision on burial vs. cremation, and so on? If you are single, who is your personal representative?
- Who will handle your affairs if you are unable to do so for an extended period of time or at the time of your death?
Now don’t get me wrong, life planning isn’t all depressing and morbid, but (to quote John Lennon), “Life is what happens while we’re busy making other plans.”
One important thing to remember – your plan needs to be reviewed – at least with every life changing event (i.e., birth death, divorce, marriage, etc.). You review your financial future annually, why not the rest of your life? It’s okay to change your mind, but change your plan to fit. Remember that life happens while you are busy making other plans. Remember, too, that when your plan ceases to change, you are no longer among the living.
Just on the outside, remote chance, that something might happen to you, isn’t it better to have a plan in place to protect those you love?
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