We spend a lot of our time planning. We plan out our work days to ensure that we get all of our tasks done and projects complete. We make plans for the weekends and bank holidays so that we can ensure our friends are free and make necessary reservations. We plan holidays so we can get away to beautiful places where we can let our hair down and relax or see the sights we’ve wanted to see for our whole lives. But one thing that we tend to fail to plan for is planning for the worst. Sure, we don’t want to think about when our lives will inevitably come to an end. It’s a sad and heartbreaking subject that we’d rather ignore for as long as possible. But if you have any dependents, or if your nearest and dearest don’t have huge hoards of wealth to cover funeral costs outright, it’s something that you should take into consideration and get on board with. There are all sorts of different things that you can do to make the grieving process easier for others when the time does come that we take leave. So, here are a few to take into consideration!
Let’s start out with life insurance. Pretty much anyone can take out a life insurance policy and it could help to financially support your loved ones if you do pass. If you have dependents, life insurance can help to support them when you are no longer able to. If you don’t have dependents, life insurance can provide chosen individuals with money that they can put to whatever use they want.
Put simply, a life insurance policy will ensure that your chosen nominees will receive a payout should your life be cut short. This can be used to help them provide for themselves – from rent or mortgage payments to energy – to cover your funeral costs or to help set them up in life.
Of course, there are plenty of life insurance options out there. Choosing the right policy to suit your needs is extremely important. It may be difficult to find the right policy right away, but keep searching until you find one that ticks all of your boxes for the right price. A good place to start out is using price comparison sites. Then make sure to read through the policy details of any policy you’re considering taking out.
You need to make sure that you keep up with all payments on your life insurance policy to ensure that it’s always valid. If you miss payments, your policy may become void.
If you have money put aside or assets, such as a car or your own home, you should make sure that you also write a will. A will is essentially a legal document that you can use to let others know who gets what when you pass. Have a good think about this. Make sure that you know exactly what you want to go to who. Then, you can get in touch with a legal professional who will be able to help you to put this in writing. This will solidify and certify your wishes. Of course, changes can be made to the will as time goes on, so you don’t need to feel that your wishes will be set in stone should circumstances change. However, it’s generally best to get the ball rolling by writing a will as soon as possible. This can ensure that should anything sudden happen, you can rest assured that your family and nearest and dearest will receive what you want them to.
Now, few people actually plan their funeral outright. But bearing in mind that the average funeral can cost thousands, you may want to at least cover planning the financial element that will inevitably be entailed in a funeral down the line. Now, there are several ways to go about this. Here are some steps to help you along the way.
First and foremost, you should consider what type of service you’d like. Various types have different price tags attached. Generally speaking, a cremation is cheaper than a burial, as you don’t have to consider land costs and burial fees. A funeral with a service will also be more expensive than a direct cremation. Different add ons will also cost more. For example, you may want flowers, a headstone or cremation jewelry from Memorials.com for your family.
One option you have is to simply save for a funeral yourself. You could open up a dedicated savings account and put a set amount of money away each month. This should build up, eventually reaching a point where you have the cost of a funeral tucked away in your savings account ready.
You may, alternatively, want to consider funeral plans. Generally, you take these out with a funeral provider and pay a monthly fee that will go towards the cost of your funeral. Eventually, you will cover this cost and when you pass your family or friends can simply get in touch with the funeral provider and begin to plan the funeral. Of course, there are a number of different funeral plans available on the market, so make sure to shop around before settling on anything in particular. This will help to ensure that you get the best price possible. You may also want to look into different providers to ensure that they have good reviews and reliable services.
Of course, there are many other things that you can do to plan for the future. But hopefully, some of the above areas will give you some guidance and help to get you started in the right direction when it comes to helping you prepare for the worst. Each step can significantly impact those in your life positively and help you feel reassured that they will all be covered and protected should anything happen to you!