Looking After Your Family After You've Gone

When I became a mother for the very first time, nearly eight years ago, as joyful a time as that was, I began to become aware of my own mortality. Here was this tiny little human who was completely dependent on me and my husband for all of his needs. I began to think in terms of the worst case scenario; what if something happened to me, my husband, or heaven forbid to both of us, then what would that mean for our new family? 

Just before my little boy was born, my husband and I took out our first mortgage and during the process, the financial advisor mentioned life insurance. It wasn't anything either of us had considered before but we took his advice and took out a policy, not really thinking much of it one way or the other. It was only when my little boy was actually born and we had a brand new little person to consider and protect, that we understood its importance.

Taking out life insurance isn't always something we want to think about. It forces us to think about the fact that one day we will die and leave behind our family. It is an emotive and difficult subject but life insurance should be viewed of in a positive light. Taking out a life insurance policy ensures your family is financially protected in the event of your death, which will be a huge help and support to them in the weeks, months and years following. It is a way of protecting, caring and honouring your family after your death. 

Life insurance will mean that financial support is given to your family, helping them to pay off debts like the mortgage and assisting them to maintain a standard of living. Life insurances usually pay out in a lump sum but you may wish it to be paid in regular instalments over time like a salary. You may also wish to take out critical life cover which will ensure a lump sum is paid out in the event you are diagnosed with a serious illness.

Another important task is to ensure you have made a will. This will ensure you can specify who you would like your estate, possessions and money to be passed on to. Purchasing a will kit is a quick and easy way to write your will. 

While we may be uncomfortable thinking in terms of our own death, taking out a life insurance policy and creating a will will provide you with that all important peace of mind in regards to your family's future; a precious gift providing them with a stable, secure future. 

*This is a collaborative post.