Nobody likes thinking of the future, they are quite content to live in the here and now. When the topic of discussion falls around illness, death, or injury then it’s even less likely that a person is going to give that topic much thought. I for one used to suffer from the curse of invincibility. Most of us in our teens and twenty’s consider ourselves to be invincible, unable to be harmed, and we think we will live forever. As we get older we marry, have children, and begin to face our own mortalities. After all, when you have a family it’s no longer about your well being, it’s about their well being. Questions like “how will my family support themselves if I’m not around” need to be addressed and answered. Allow me to discuss some of the more important topics of discussion, morbid or not, that need to be addressed by you and your loved ones.
Do you have a will? With the complications of family, extended family, and divorce, it’s more important than ever that you have a very specific will and testament that lays out who is to receive your assets when you pass. Sure it’s not a pleasant thought, but it’s one that may be vital to your family’s well being. I’ve personally been witness to families that have been torn apart or greed and legal battles because a loved one failed to properly complete a will listing out who received what assets.
Do you have a living will? This is also known as an advance healthcare directive. It is legally binding like a will, but this is geared towards life prolonging medical treatments. If you are in a terrible accident and the only way to be kept alive is on ventilators, then you need to address whether or not that is a state in which you want to live. Sure the whole concept is a scary thought, but what’s even more scary is if you find yourself in a serious accident and your loved ones are unaware of your wishes.
I think the most basic of decisions that needs to be made is in regards to life insurance. Life insurance is typically a monthly on-going cost, as such people often delay in taking out a policy. If you have a family, and you are unsure of how they will support themselves in the event that you die, then you need to consider taking out a policy right away. The same can be said for your spouse. Many homes are dual income these days, and the loss of either worker can be detrimental to your finances. For more information check out life insurance Australia with Suncorp to get some ideas that will work for you.
As you can see these topics are the most pleasant of conversations to be had, which is probably why many people don’t have a will, even more people don’t have a living will, and less than half the population has any form of life insurance. Do yourself a favour and forget about the negative connotations that come with these topics and start thinking about the security of you and your family.