Life is so uncertain. We live thinking nothing will happen to us. In today’s times that we live in, you cannot be sure you will be back home when you leave your house in the morning. Also, the social security net that existed in our parents time is now gone.
You have focussed on securing your family’s future through insurance etc. You have also been making the right investments – but think for a second, what’s the use if your wife or family members are not aware of it?
OK, you say you have bought a term plan for your family, do this simple exercise: just call up your wife and ask which company’s plan you have bought and where is the policy document: In 99 out of 100 cases, the wife will be clueless – isn’t it disappointing, the person for whom we buy insurance is not aware and will face a lot of hardship figuring out these simple things?
Time to get organised and take charge of your life.
Create your own emergency kit which can be a folder where you store all your important documents. In that folder, have a datasheet which lists out the important phone numbers that your family members may need in case of emergency. You can download it here:
I have created this template as per my little knowledge and experience in MS Excel. Download this template, modify it as per your needs. When you prepare this template, discuss with your wife and imagine the scenerios of what could happen in case of your death/ accident.
Also please note that while preparing this kit will be a one-time effort, it will need to be reviewed on a half-yearly basis to see if any details need to be modified etc.
Hope it helps. Any feedback on template, do let me know.