Some of the subjects that I talk about when it comes to family risk protection aren’t the best. Topics can put fear in people’s hearts and to be honest there is no intention to scare. Death is a taboo subject but It is just reality. Some of us may live past 100 and others like a very close person’s daughter may only live for as little as 6 weeks. But at the end of the day we will all die!
I quite like this quote by Mark Twain, “the fear of death follows from the fear of life. A man who lives fully is prepared to die at any time”. I read that quote and for me it shouts out once you accept death you will live fully, you understand and appreciate the fact that you are alive. It may say other things to you, who knows?
There is an emotional side to death but there is also a very serious financial side. Firstly if you have financial dependents you really need to think about getting life insurance in place. You may have karked it but they are still around and are most likely suffering from the lack of money, bills, your mortgage and school fees etc. that they are now financially supporting on their own. Every situation is different and needs to be analysed properly but it is a serious thing especially with your legacy, your children and/or partner if you have one. Life insurance in NZ doesn’t have to be expensive. Of course it will increase with risk and age, smoking will probably double premiums and there are different types of policies that need to be talked about and researched as some increase with age and others have premiums that remain the same throughout the life of the policy. What life insurance will do is leave you at peace knowing that if you die your family and loved ones will be financially Ok.
So please organise your death financially so you don’t have to worry when you die or if you find out you are terminal. Make sure your will is up to date and in place, we have some lovely local lawyers on the island that are happy to help. You may need to see your adviser re your current life policy and you will need to review it bi annually at least as life constantly evolves and changes. I meet so many people that pay for insurance and actually don’t know what they have or why. If you want a special funeral and don’t want your family to worry there are brilliant affordable funeral policies available in NZ. There are also life insurance policies available that are not medically underwritten for people that have had serious illnesses and are not insurable under standard policies. Terms and conditions apply and most will give your premiums back if you die in the first year or two, then the insurance kicks in.
And lastly Buddha once said “even death is not to be feared by one who has lived wisely”.