I know the question sounds weird, but hear me out. Have seen a couple of deaths in the extended family where my 2 cousins between 27-30 age have passed away and now seeing their parents/spouses/babies suffer. I want to be a bit prepared in case I suddenly happen to depart this world in the same way. I know that there's no way I can prepare for the emotional turmoil that my family will go through but at least I can try to reduce some hassle and provide some financial help.
I have a term insurance of 1.75 Cr. And I just realised that though I have it, nobody knows the details like policy number etc. So, I'm preparing a document with those details.
What else do you think we should be prepared for?
Maintain a kit where you have all the details like all your investments split & worth, bank a/c no.s & savings amt, insurance no.s, related contacts, Lawyers no. (if u r planning to have a will),
Ensure nominees are updated on all your investments. Mention someone in your family/close friend that you are maintaining a doc related to you or keep it secretly/pwd protected file (write the hint of the pwd somewhere where your family is obvious to look for).
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