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Life insurance

5 things for end-of-life planning

A checklist for life's final chapter

20 Oct 2023
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5 things for end-of-life planning
5 things for end-of-life planning

Planning should neither be grim not done on a whim. With the Lasting Power of Attorney (LPA) fee waiver extended until March 2026, it's a great time to discuss estate planning and insurance nominations with a financial representative!

Complete the journey here.

Shukatsu – A Japanese concept of preparing for life’s final chapter

  1. Creating Advance Medical Directive (AMD)
    Pre-plan your preferred medical and care arrangements, and appoint your nominated healthcare spokesperson. Advance Care Planning (ACP) guides your healthcare term to perform based on your wishes and relieves your loved ones of difficult decision-making. For a legally binding agreement, explore an LPA.
  2.  
  3. Appoint a Lasting Power of Attorney (LPA)
    An LPA protects your best interest and prevents strenuous legal processes for your loved ones in dire circumstances. Appoint a trusted done to make major personal decisions for you when you no longer have the mental capacity to do so.
  4.  
  5. Write a will
    Drafting a will allows you to decide on the inheritance distribution of your estate after death, and specify instructions to follow when the time comes. It also gives you peace of mind in the event something unexpected occurs.
  6.  
  7. CPF nomination
    It is crucial to complete your CPF nomination and specify the distribution of your CPF savings after you have passed on, as CPF savings are not covered by your will – they do not form part of your estate.
  8.  
  9. Insurance nomination
    Make your decision for the legal nominees, and distribution of your insured amount. Keep your loved ones covered in the event you pass on during your policy period.
     

 

Life insurance
Life insurance

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