Life has become unpredictable. A few years ago, people of ages 30-55 dying was unheard of, but it has become common now. A couple of recent events have impacted me, prompting me to reflect on the challenges faced by this age group and the family of the departed – dependents dealing with grief and financial constraints faced by this loss.
In writing this article, my aim is to share insights and strategies to help others navigate similar experiences, ensuring that families and individuals in our age group do not suffer alone.
Through my own journey of grieving, I have recognized the importance of addressing these sensitive topics openly and providing support to those who may be struggling. By shedding light on this often – overlooked aspect by people of our age, I hope to foster understanding, resilience, and compassion within our community.
In addition to emotional support, managing the financial aspects after the loss of a loved one is crucial. Here are financial actions we must consider immediately. I am not a doctor, financial or fitness expert but writing from my own experience.
a) Make a Will: People believe they will draft a will when they retire. But, in case of an untimely death, a will becomes crucial so that the family suffering in sorrow does not face any legality when asserting its rightful claim.
b) Joint Account/ Nominee: Try to have joint name in bank accounts or make a loved one as a Nominee. Including mutual funds, shares and other financial instruments.
c) Emergency Fund: Six/ twelve months of funds so that dependents do not face immediate money constraints.
d) Term/ Life Insurance: Dependents would receive a lumpsum amount in case the person dies and with additional riders disabled.
e) Health Insurance: In case of Hospitalization, expenses would be looked after the insurance company. Keep the details where they can be accessed with ease.
f) Communication: Tell your spouse about bank accounts, mutual funds, shares, properties you hold and the accessible location where all the papers are secured.
g) Body Test: Consult your Doctor and do regular tests, as prescribed by Doctor, to check for any ailments.
h) Emergency Numbers: Try to keep emergency numbers like Family Doctor, Ambulance, Fire brigade, Nearest Hospital, Blood banks, Nearest Relatives Handy.
i) Documents: Keep essential documents, such as birth certificates, marriage licenses, and financial records, in an accessible location.
j) Exercise and Meditation: Exercise for 30 – 45 minutes. Do not overexert. Also, meditate regularly to avoid pressure situations and recharge for the next day.
k) Family Time: People in my age group are after money; they have no time to spend with family. Take them for vacations, have family dinners, go out and have fun. Remember You Only Live Once (YOLO)!
