It Won't Happen to Me!

In a former life, I once sold insurance. More specifically, long term care insurance. The reason/excuse/objectio I heard from nearly everyone became a real sore spot with me. That's why I no longer sell insurance. What was that excuse? "It won't happen to me." Well, folks, the reality is that it may very well happen to you and if it does, are you prepared? Or perhaps more important, is your family prepared? And this isn't just about insurance. It's about planning for the unexpected, no matter what that might be – illness, accident, and yes, even death. Planning for your life is more than having money in the bank. It’s a means of ensuring you and your family will be taken care of should the unexpected suddenly happen. As a life planning specialist, my job is to educate you on the importance of creating your safety net or life plan. In other words, I teach the practical side of wellnessnnWhat do you want? Planning for your life is simply determining what you want for your life and writing it down. It isn’t exclusive to the end of life, nor is it just for the older generations. I believe it is our moral and ethical responsibility to our family and loved ones. Having that safety net can bring balance and a sense of security to each of us. And yet, most of us spend more time planning our next vacation than we do our lives. Why don’t we work on our life plans, get the paperwork in order and then go on living life, knowing that we have prepared as much as we can for the unexpected? My questions to you are: n

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• • What would happen to your family if you die today?
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• • Or, what would happen to your family if you don’t die, but suffer a prolonged, expensive illness?
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n These aren’t easy questions, are they? But they are definitely things to think about before it’s too late. To quote Pablo Picasso, "Only put off until tomorrow what you are willing to die having left undone." I’m sure most of you have some inkling of what you want and how you want it when it comes to illness, disability and end of life care. But, the big gotcha’ is: does anyone else know what those ideas are, and have you written them down? That’s what a safety net is all about. It’s covering all the bases if you are no longer able to take care of business.nnThings to be consideredn

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• • If you should meet your end in a car accident on the way home tonight, is your family’s financial future secure, with adequate life insurance on your life?
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• • If you don’t die, but are permanently disabled and can no longer earn a living, do you have a disability insurance policy to cover the expenses?
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• • If you or a loved one is diagnosed with a life-threatening illness, is your medical insurance coverage adequate?
• What about all your stuff? If you don’t survive, who gets what? Now we’re talking about wills and/or trusts.
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• • If you have pets, what provisions have you made for them should your entire family meet a disastrous end?
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• • Have you discussed your final arrangements with anyone? That means do you have a prepaid funeral plan, reached a decision on burial vs. cremation, and so on? If you are single, who is your personal representative?
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• • Who will handle your affairs if you are unable to do so for an extended period of time or at the time of your death?
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n Now don’t get me wrong, life planning isn’t all depressing and morbid, but (to quote John Lennon), "Life is what happens while we’re busy making other plans." One important thing to remember – your plan needs to be reviewed – at least with every life changing event (i.e., birth death, divorce, marriage, etc.). You review your financial future annually, why not the rest of your life? It’s okay to change your mind, but change your plan to fit. Remember that life happens while you are busy making other plans. Remember, too, that when your plan ceases to change, you are no longer among the living. Just on the outside, remote chance, that something might happen to you, isn't it better to have a plan in place to protect those you love?