If Something Happened to You: A 5-Minute LifeInsurance Checklist
Most families don’t avoid this conversation because they don’t care. They avoid it because it feels heavy.
So let’s reframe it:
This isn’t a fear conversation. It’s a love conversation.
Because if something happened to you tomorrow, the people you love wouldn’t just be dealing with grief. They’d be dealing with decisions—fast.
Here’s a practical checklist you can use at any age.
1) Ask the simplest question
If you weren’t here, could your household pay the bills for the next 6–12 months without panic?
Not forever. Just long enough to breathe, grieve, and make clear decisions.
2) Know your “must-pay” monthly number
Write down the basics your family would still need to cover:
Mortgage or rent
Utilities
Car payment(s) + insurance
Groceries
Phone/internet
Childcare or caregiving costs
Medical premiums and prescriptions
Minimum debt payments
Total it up. This is your household’s must-pay number.
3) List what income continues (and what stops)
Make two quick lists.
Income that might continue:
Spouse/partner paycheck
Social Security (survivor benefits may apply depending on your situation)
Pension (depends on election/beneficiary setup)
Rental income
Investment income
Income that may stop or change:
Your paycheck
Your business income (if it depends on you)
Certain benefits tied to employment
4) Don’t forget the “first-week” expenses
When someone passes, there are often costs that show up immediately:
Funeral/memorial costs
Travel for family
Time off work
Immediate bills while accounts get sorted out
A quick note about payout timing
Most life insurance claims are paid after the claim is filed and approved, and the carrier has what they need (like a death certificate).
But some expenses don’t wait. That’s one reason final expense / burial insurance exists—coverage designed specifically to help with end-of-life costs.
5) Make sure your spouse/partner can access money
This is a big one.
Are key accounts joint, or only in your name?
Does your spouse know where the money is?
Do they know who to call (bank, advisor, HR, insurance agent)?
6) Check beneficiaries (seriously)
At least once a year, review beneficiaries on:
Life insurance
Retirement accounts (401(k), IRA)
Bank accounts (POD/TOD if used)
Outdated beneficiaries are more common than people think—especially after retirement, remarriage, a spouse passing, or big family changes.
7) Pick 1–3 priorities (keep it simple)
Common priorities include:
Replace income for a period of time
Pay off the mortgage (or cover payments)
Cover final expenses
Pay down debt
Fund childcare or caregiving needs
Leave a legacy for kids/grandkids
8) Match coverage to the job
Don’t start with “term vs. permanent.” Start with outcomes:
How much money would your family need?
For how long?
What problem are we solving?
Life insurance can be used for:
Income protection
Mortgage protection
Final expense / burial planning
Legacy planning
9) Create a one-page “If something happens to me” sheet
This is one of the most loving things you can do.
Include:
Key contacts
Policy info (company + policy number)
Where important documents are stored
A short list of monthly bills and due dates
The point of all this
The goal isn’t perfection—it’s confidence.
If you want help thinking through the numbers and options, we’re happy to walk you through it—no pressure, just clarity.
This is educational information, not a recommendation for any specific policy. Coverage options, pricing, and eligibility vary by person, so it’s important to review choices based on your personal situation.
