If you died tonight….
No, nobody likes to talk about death. But people have to die, do they not? Even Devanand had to die!
http://www.subramoney.com/2010/06/if-you-died-tonight-what-will-your-family-do
A long time ago I wrote a piece ‘If you were to die tonight what would your family do?’- here is the link
http://www.rediff.com/money/2006/may/10perfin.htm
My question to all readers is to take some time off and seriously think of death.
You just got married, or you just got engaged, or you just had a baby…now think “if you were to die tonight, what would your dependents do?
Are they prepared? financially and physically? It is not easy to think about death – but the uncertainty means so you must think. Who will pay the school fees, the EMI, the daily rations,…and please do remember it is not easy.
Will your wife work by choice or will she be forced to work? And be realistic -if she does not have a great qualification and has taken a couple of breaks – will she get a job? Who will pay the EMI for the plasma TV which she never wanted?
Where will be the birthday party of your 6 year old? Same hotel as last year or will the party be cancelled? If the roof is leaking and the paint is peeling off, will she afford to paint the house?
Will your brothers, and mother decide to throw her out of the house – then where does she go? NOMINATIONS are important too. If you have old policies with your mother as a nominee, please make sure your wife is now the nominee.
It is easy to live like you will not die. It is much worse to die like you never lived! – this is a take from Steve Jobs’s quotes.
https://www.youtube.com/watch?v=sZ6CvJg0_fg
SAM
Subra,
Great and Practical article. Also very scary! Will surely have a conversation with my husband about this. Thankfully – we have no problem of lavish parties and EMI based plasma TV!
bharat shah
timely reminder for all!
‘Will your brothers, and mother decide to throw her out of the house – then where does she go? NOMINATIONS are important too. If you have old policies with your mother as a nominee, please make sure your wife is now the nominee.’
is not to think vice verse also in this age of materialism for allowing some thing for parents?
Bhars
Subra,
How do you feel about the comments on the rediff site? after all these years? when you wrote?
subra
with age, getting more indifferent to comments 🙂
Argo
Good. Me and my wife discussed the same sometime after we got married and I changed all nominations to her name from my mother’s name. Similarly she keeps me as nominee for her investments.
prabee
I read the comments of your articles in the general sites like moneycontrol and most of them seem to think you are a agent of insurance company.
Judging by the comments there people when said they need 3 crore of SA,say who will be paying the premium. They just dont know term insurance, never heard of that,if only everyone knows they can get 1 crore worth of SA with 12-15 K /Year on average as premium they might understand better.
I think many more articles on what is term insurance is needed. Is there any advertisement on any media for term insurance from any insurance company?
subra
how does it matter who I am? what is more important – the message or the messenger?
CodeRed
Obviously the message is important sir. No matter what, nomination is very important. I myself personally has learned this lesson the hard way.
ddshah
Everyone MUST MAKE WILL & do mokdrill of financial restructuring in family …do YOU agree,Sir?
M S PANJWANI
Subra Bhai
yeh article padh kar aakh me tears aa gaye bhai saab…
have no words….
great…..
god bless u.
Jitendra
Thank you Sirrrrrrrr…
One more addition to my priority list 🙂