What happens if complete family dies together?

How will they know about your finances in case anything unfortunate (god forbid) happens to you ?

So, my friend's parent passed away due to cardiac arrest. He is clueless about his dad's policies, savings, stocks. Not that they're strapped for cash, but he'll be spending months sorting through this mess. My father caught wind of this and sat me down. Turns out, he's already got an excel sheet with bank acc ids, nominee names, mother's financials, shared on the google drive. That's when it hit me - that my father has accepted that he's old, anything can happen at any moment. Couldn't focus on the convo after that. My mind kept playing out weird scenarios, and damn they're all scary. I guess that's life? We'll all go through losing someone close eventually.

How have you planned access for your family to your investments in case of urgent need or a mishap? How have you kept your family aware of the financial investments? Would like to know answers across different asset like mutual funds, bonds, crypto etc.

With zero finance and not single interview call I really deciding to end this journey on this planet. Come on don’t label me coward ending own life needs huge load of courage too. This is also help my family to get the Life insurance money and continue their normal life at seems to only option at the moment.

I know this might be a sensitive topic, but has anyone in your family claimed the term insurance after their loved ones passing? Is there any complications that arise when claiming?

Whats your strategy when it comes to Insurance? - ULIP with life cover (the ulip returns outdo the insurance by the time the policy ends usually) Vs Term life - Health ( Family floater Vs Individual cover ) assuming no pre existing conditions Sad that most if our gen lacks good insurance knowledge and penetration (this for me is a key aspect of financial Literacy!!)

I grew up in a family which used to be just above poverty line. My mom had worked a lot to provide making 7K a month. I now have a job that pays 15lpa. Other than good food on table I'm not sure what i should do with the money. I save everything left after removing house expenses Which is 75% of my income. I know saving is good but i don't want endup saving a huge pile and dying without using any of it.i want to exprfi6good things. How did you guys spend when you tried to raise from almost poor to a decent standard of living