You don’t live on forever. Everybody knows this, but everybody ignores this. If you love your family, it’s important that you share your medical, financial and other crucial data with your dependents. Here the various scenarios that you will convince that sharing this information either before or after your death is so crucial for their wellbeing.
UNTIMELY DEATH: You don’t know when you will die. But when you do, what are the measures you’ve taken to ensure that all your financial information is shared with your dependents? Do they have to unlock your phone to know who is your chartered accountant or bank manager? Where are the keys to your bank locker? Among the many bank accounts you hold, which is your primary bank account? Where are all your property documents being kept, away from prying eyes? Are they with your lawyer, your parents in the native place or at a special place within your house that no thief will think of exploring, like your water tank? When we keep hard-to-crack passwords, sometimes we forget the password ourselves. So how do you expect the others to crack it when you are not around?
WILL: Most people don’t even write a ‘will’ when they are alive, leading to many property disputes thereafter. And it’s as simple as just writing it down on a blank sheet of paper and storing it in some place safe that their family knows about. Or entrusting it to a lawyer who will deal with the paperwork once you are no more. But how many of us can afford a lawyer or even know the technicalities of property transfer and creating a will? Here is where some forethought into all of this is crucial because if you don’t share, somebody else could claim your property and your family could be on the street.
LIABILITIES: All the bank loans that you are paying need to be conveyed to your dependents. This is particularly true when you have set up ECS and the money is automatically being transferred to the banks every month. Similarly, if you are paying all your insurance money even after your death, that can get messy too. More importantly, if your family members don’t know whom you owe money to, they could take advantage of this and perhaps claim a lot more money you owe them than is the actual case.
MEDICAL COMPLICATIONS: Storing your complete medical history is crucial when you get into an accident or go into a coma and your family members have no clue about your previous medical records or what you were taking. This is particularly true in nucleus families who are staying away from their parents. Similarly, even if it’s your spouse, if you only have a rough idea of what he’s taking or his previous medical history, that’s not going to be enough in an emergency. To begin with, you need to know his blood group, so blood transfusion can happen.
FUTURE SECURE: If you want to be future-secure and ensure that all the money, time and effort you are putting into your job will help your dependents, it’s time you did something about it. Ensure that you store all your information in the cloud, so it can come to your aid at any time of your choosing. Here is where SecureLifeVault can come in handy. With international banking grade encryption and hacker-proof, we offer complete privacy. Only you and your designated deputies and emergency deputies will have access to your private medical, insurance, property and other records. And all of this is customisable. Just sign up with us and you will be able to insure your life against life’s many exigencies for a nominal price.