Your Finances When You're Terminally Ill

It is advisable to take out dread disease cover in addition to life insurance to assist with your finances

- Phakamani Mvelashe

MOST people find it difficult to openly talk about death, being terminally ill and money. However, there will come a time when you have no choice but to openly address these issues, especially when you’re battling a terminal illness such as cancer, stroke etc.

TELL YOUR FAMILY

Planning for the unexpected is never easy because as things change, so do your financial needs and those of your family.

“It is important to openly discuss your financial status with the entire family. This not only promotes transparency within the family, but gives you the opportunity to let them in on your current financial status, plans to manage your finances going forward and your wishes on how your estate will be managed in your absence,” says Katharine Liese, general manager of marketing at 1Life.