“The fear of death follows from the fear of life. A man who lives
fully is prepared to die at any time.”
-Mark Twain
When people started
talking about death the normal reaction would be a bit off. We tend to
associate the topic of death or dying as something morbid and taboo to some
degree. But in reality, death is inevitable and we all are going to die somehow,
sometime, it’s a matter of scheduling as the angel of death might be busy with
other stuff.
Seriously, death is
a serious topic that we should all talk about. Our life here on earth is not
permanent and like all living organism dying is one process that we have to go
through in the cycle called life. Death is a renewal and we will one day withered
and die.
The
Relevance of Financial Planning to Death
The aspect of financial
planning for the living is equally important as planning for death. There are
always challenges associated when people talk about death. The very topic of
death sad to say is still a big taboo in our society and so thus talks about
money are often avoided. When people ask you about these 2 subjects for sure
you’ll feel they are too intrusive.
In reality, living
and dying are something that we all have to go through and planning ahead for
these events should come as a priority.
Having a strong
reluctance to talk about death, how can a family plan for this unavoidable
event?
If you are the head
of a family or the sole decision maker the ball is in your hand and you could
easily open the subject to the rest of the members especially to your wife,
husband or parents. However, if you are not the head of the family things will
be a bit difficult but still you can start discussing issues with your family
members and at this point you must already devise a good plan or actions so
that it would be easier for your loved ones to understand your point.
Discussing
death with my mom….
For any daughter
who loves her mom so much and who grew up with just one ‘present’ parent
talking about death or dying is very difficult and depressing. But my mom keeps
on pressing the issue for many years now. She started by making some “habilins”
on what should I do in the event that she passes away.
She will constantly
remind of important matters. She would even tell me what songs she
likes to play during her wake and burial- basta daw lahat ng sad songs na may "You and I". These things are morbidly horrifying
for me but as I matured and grew older I am starting to realize that these are
important matters and that being financially prepared for death is as important
as preparing for the future.
The future is coming whether we like it or not and
of course we don’t want to face death at the most unexpected moment in our
life.
My
mom and I preparing for her death-
No, fortunately my
mom is not afflicted with debilitating disease such as the big C, diabetes or
kidney issues. She now religiously go on scheduled medical check-ups and
takes her meds on time. She has some minor heart issue and high blood pressure
but these are properly addressed and not a major concern.
Oftentimes during
intimate conversations my mom would open up the subject of her death and will
gently remind me of the things to do when she dies. It’s morbid I admit but I
have to keep an open mind and understand that talking about death is very
practical.
How
my mom talks about her death and the things she reminds me in the event of her
demise:
To give you a
proper perspective on talking about death, I will make a list of the stuff we
(my mom and I) constantly discuss and the things she already took care of-
1. She often
reminds me where she keeps the important documents and will tell me one by one
what they are. These documents are- birth certificates, land title, her life
plan, her insurance policies, legal documents (we had cases involving family
matters) and her sealed last will testament.
2. She already
introduced and acquainted me with her trusted lawyer. My mom would always tell
me even during my younger years that any person should have a trusted lawyer
friend by his side.
3. We already
checked out her plot in Loyola Cemetery. Already checked the status of her
documents for this and inquired about the other expenses in her burial as well
as her wake. She believes that planning ahead is very important. She just wants
me to be prepared in any event and death is one of them.
4. Mom already
talked about her will. Heartbreaking it may sound but my mama sure has some
points as to why she needs to discuss the details of her will early on even if
she is very healthy at 70.
How
do I feel about this?
Morbid. Morbid.
Morbid. Been telling myself this, since I keep hearing my mom reminding me on
preparing about her death while she is still roaming the malls and would spend
tireless hours shopping.
But as I hit a
certain age like now- I begun to appreciate how honest and candid my mom is about
the subject of death. She is just very practical.
As the eldest
daughter and the current head of the family she wants me to be prepared and not
to worry much about the important matters that I have to tackle in the event
she passes away.
Her constant
reminder is now positively reinforcing her practical ideals on me. She is
sparing me from the worry and the anxiety of dealing about her death.
Now
what about the financial aspect of death?
Yes, I know where
the important documents are safely hidden. Yes, I am now friends with her
‘young and good looking’ lawyer. Haha..she got some taste too. Yes, I am now
familiar of the location her cemetery plot. Already had an idea of what her
wake and burial would be. And yes, she already elaborated on her intentions on
our small family property.
Money talks. Money
is crucial in any stage in life and my mom clearly knows about this. That is
why she already bought and paid off her Loyola memorial plan many years ago including
the funeral service. Am I lucky or what?
She is also
expecting that I could get some cash out of her insurance policies in the event
of her death. My mom also gave a rundown of what amounts I could get from her
policies in case of her death.
Sun
Life #Money4Life session with Aya Laraya helps me understand the need for
financial security after death.
It was a stormy
afternoon- windy and raining but each session of the #Money4Life talk with Mr.
Aya Laraya is something I could not miss. There are valuable lessons that I
could learn and on this October session the talk is all about being financially
prepared for events that we all cannot avoid such as sickness and death.
Sun Life offers investment
opportunities that are less risky and can strategically took care of problems
during death or sickness. Like the Sun Life Prosperity Card that I am very
interested in, starts only at 5K and this is a good amount to start diversifying
financial opportunity by investing it to stocks or other long term investment.
 |
| Mr. Aya Laraya during the Sun Life #Money4Life talk |
Mr. Laraya gave out
good reasons why we should have investments that could take care of the
financial need in the event such as death. Well as I already shared, my mom is
very honest and practical to discuss and give out instructions when the time
comes.
Having a form of
investment such as a life insurance is very important since it will be useful
in financing expenses that comes right after dying such as:
- Inheritance tax- yes, there is a prepared last will testament but who among the family members would shoulder the tax in the process of transferring the property? The dilemma among siblings can be prevented if there is a fund intended for this purpose.
- Burial expenses could be very expensive. Again, if a loved one has already allotted insurance for this then the family will not have to go through the hardships of raising funds for this expense.
- Medical bills can also be a big consideration in the event when a loved one succumbed from an illness. Hospital bills could pile up and if there is a fund just for this type of expense then the family would be spared from the burden.
These are just a
few scenarios that Mr. Aya Laraya, a noted financial expert talked about in our
last Sun Life Money for Life session this October. He made good points and we
should apply them on our lives to avoid financial issues during death.
I am a bit lucky to
have a mother who thinks ahead and thoughtful enough to consider the things
that I will have to go through after her passing.
We all should be
prepared whether we are preparing for own or for our loved one- the lesson here
is to start working on a financial plan that will cover expenses that come
right after death.
It’s not morbid to
talk about death after all- so talk it out among your family and start preparing for the worst case scenarios.
Talk to Sun Life and learn more ways to secure a better future.
Visit Sun Life Philippines to learn more.
Or follow them on Sun Life Facebook.
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