• Sunday, May 26, 2024
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If you leave before your spouse, what happens to him or her?


Except if you convince me that there is another technology that says you have the power to overcome this, I am certain death is what everyone will face. And what this tells us is that there will be a day of tragedy; signifying death, loss of live, even though many do not like to mention i, but it is real, inevitable and comes in different ways.

But in all of these, what happens to your spouse in the event that it comes. Give it a consideration, now and not tomorrow. If your wish is that your spouse and immediate family maintain a certain standard of life, continue their education, pay outstanding debts etc, then go for lump sum insurance. Insurance has come with different products that help you cope in the event of this coming to you or your spouse. This insurance policy helps provide for payment of a dignified lump sum in the event of death of a policyholder or his/her spouse.

Does this tell you anything? 

The reality though, unfortunately, is that you may kiss your spouse goodbye when you leave for work in the morning and that may be the last time you see them alive ever again. Death is inevitable and in some cases without warning.

Preparing your family for financial disaster is important of course, as is preparing for the birth of a child, etc. Then, preparing for death, though, is something a lot of young couples tend to overlook because, well, they’re young. “That’s not something I need to worry too much about because it’s a long way off.” Says who?

Being prepared is a lot more than simply writing your spouse’s name in the “Primary Beneficiary” box on your HR paperwork at the office.

Talk to your spouse. Make sure you both fully understand what will happen in the event that one or both of you dies. Cover as many scenarios as possible. You will truly never know when something tragic might happen, but you will damn sure know whether or not you were prepared for it. The death of your spouse is not the time to have figure things out.

Sit down and answer these questions with your spouse 

Then, turn those answers into actions by talking to a professional and getting the necessary paperwork in order. Most importantly, secure the information in a fireproof safe or safe deposit box and make sure someone outside of your marriage knows how to access the information.

Some basic questions are:

Does each of us have enough life insurance to cover our current way of life? Put another way, how will our debt (mortgage, car loans, etc.) be paid with only one or no salary? What about the other bills? Utilities, cable, internet…

Who will care for our children if we both die? 

What are our final wishes? Cremation, burial, open/ closed casket, etc…

Are there certain things that I’d rather want my children have, then my spouse?

Then one final question that you should ask only yourself… Losing a loved one is bad enough. Losing your spouse would be unbearable. In the event that something unexpected does happen, wouldn’t you rather spend your time grieving with your surviving family and coping with that reality instead of scrambling to make sure you don’t lose everything you both worked so hard to achieve? That question should be easily answered. “Life is too short” … a little effort now can ensure that your surviving family will be taken care of later, take insurance.