The end of life can be scary, sad, and confusing. It can be beautiful, too. For many people, thinking about end-of-life choices and accepting a terminal diagnosis can be challenging. Others reach acceptance and work with family, friends, and medical professionals to make positive end-of-life choices that help them transition through the final chapter of life. If you or someone you love has a serious medical condition and is facing the end of life, here are some things to consider.
Understanding Life Insurance Coverage and Options
Life insurance policies can be difficult to understand. For many people, when they sign up for them, they don’t put a lot of thought into who will be the next of kin, how a death benefit works, or even what a life settlement might look like. This is because people often sign up through employers or just want the big picture peace of mind that they have coverage. If you’re facing a terminal diagnosis and looking at the end of life, it’s a good idea to call your life insurance policy broker to ask about things like your policy’s cash surrender value, your beneficiary, and if everything with your insurance policy is in place for your passing. It’s in you and your family’s best interest to fully understand your policy and coverages now.
Some people don’t know that there are options beyond a death benefit cash payout to a surviving spouse or other beneficiary. If you have a terminal diagnosis, you also have the option of selling off your life insurance policy for a lump sum payout. To find the best viatical settlement for your situation, contact a viatical settlement company who can work with you to go over your options. You’ll need copies of your medical records and personal information, as well as documentation of your terminal illness, when you make an appointment for a life settlement transaction.
You might be curious about why you’d agree to the sale of a life insurance policy, and the answer is simple. The cash payout could mean a final trip for memories with your family, paying off medical bills, or another bucket list item before the end of your life. While the decision is a personal one, it’s also something to consider if you carry life insurance.
Building a Support Team Around End of Life
Facing a terminal illness is challenging, no matter how prepared you or your family are. Many families have great luck with therapists who are trained in grief and to work with family systems. Start with a Google search for therapy in your area like ‘therapy in DC,’ and consider making an appointment for your entire support team. While you or your partner might be the one facing the end of your life, many people will be impacted by that transition in a number of ways. In coming together as a team to handle issues of grief, closure, and general support, you’ll all be more prepared.
Last Wishes and Making Memories
Most people are concerned about the people they will leave behind when they’re gone. From hoping to pass on a memory, legacy, or even family secret, it’s important to find closure in ways that feel best to you. Consider activities you can do with the people you love for memories. Now is not the time for regrets, so it’s important to think about how you want to live. Think about making a video, scrapbook, or writing letters to the people you love. If you aren’t well enough for these activities, encourage people to visit or make those phone calls. Your loved ones will be glad you did, and you might be, too. You’ll also have a better chance at saying a final goodbye to any regrets you might be experiencing.
In the end, no one can truly predict their life expectancy. There’s always hope for the terminally ill to exceed expectations, and a perfectly healthy person could pass away at any time. For those who know they’re looking at the end of life in the near future, there’s the benefit of being able to tie up loose ends, say goodbyes, and get closure. If you or a family member are facing the end of life, consider contacting a grief therapist to help you process important decisions and to make those last moments and memories count.