Preparing for death means preparing for the inevitable. While the idea of preparing for your own death might send shivers down your spine, it’s important to talk about what will happen when we die. Now that we’re living in the digital age, death is becoming an even more complicated topic. People now have to deal with issues such as online bank accounts, social media profiles, and confidential login credentials when a loved one passes away. All of this comes on top of taking care of medical bills, making funeral arrangements, executing a will, and following a loved one’s final wishes. You can do your loved ones a favor by preparing for your death sooner rather than later. Take a look at all the practical ways to prepare for your eventual death.
Designate a Beneficiary
As previously mentioned, a loved one’s to-do list can quickly get out of control when someone passes away. As you begin to make arrangements for your death, start by designating someone that you trust as your beneficiary. This person will be in charge of doing most of the heavy lifting when you die. Be prepared to share all of your confidential login information, financial statements, and just about anything else with this person. If anything changes along the way, be sure to keep them in the loop.
Keep Your Login Credentials Organized
Most of our online profiles and accounts will continue on after we die. You can ask your beneficiary to manage, disable or delete most of those accounts after you die if you give them the corresponding login information. You can make things easier for everyone involved if you start compiling all of your information on spreadsheet or a Google doc. This might include anything from your Facebook logins to a list of credit cards you carry.
Purchase Life Insurance
As the to-do list continues to grow for your loved ones when you die, life insurance becomes all the more necessary. Taking care of a loved one’s final wishes can easily turn into a full-time job, especially when you start talking about funeral plans. That means more time away from work. Setting up a life insurance policy is a great way to leave something behind for your loved ones. That money can be used for your children’s education, the mortgage on the family house, any outstanding medical bills, funeral expenses and so much more. If your loved ones need to take time off work, they can use the death benefit to keep the lights on while they take care of your last wishes.
Premiums increase with age, so now is the time to apply for your life insurance policy. Browse dozens of quotes from top-rated companies at LifeInsure.com.