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Question
Posted by: mka | 2011/05/27

Life cover, money and mind tricks

Yesterday I called my glfrnd to inform her that i have taken a life cover and that should anything happen to me she should contact the insurance fpr claiming so she won''t be held liable for the debts. I intend marrying her this year. I don''t want for her to be stuck with my two homeloans for the houses i bought. But then again, she too has a house she has covered as well. I asked that she also informes the beneficiary so the money won''t be forfeited should she pass on.

Now my stupid mind is playing tricks on me, it turns out. her older sister is her beneficiary in her cover and in everything i own, she is the beneficiary. So my mind is playing tricks on me, like should i perhaps make my family members beneficiaries or just leave it as her.

Perhaps I should add, we have been together for a good long time, and I am paying lobola soon. She is excited about being beneficiary move, not in a bad way, i think in a trust - love kind of way. It is justified to feel like we should be each other beneficiaries in things like that.

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Our expert says:
Expert ImageCyberShrink

This is primarily two questions. One is essentially legal - I think, for instance, you can and maybe should, specify in your will that your primary beneficiary is whoever is your wife at the time of your death, and if you are not married at that time, then it should be X. Or you can leave your wife at the time the USE of a specific house for her lifetime of as long as she chooses to live there, but then to revert to the named relatives. Nomatter how much you love each other now, this may not be forever, and you may each have clear ideas about your duties to your parents.
But the second aspect of your question is the issue of mutual trust, and related issues - isn't this best discussed together rather than basing your decisions on assumptions ?

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Our users say:
Posted by: ... | 2011/05/31

Ja sure, when you are dead she will spend your money with other men and her family, while yours is left with nothing but your memories. People should learn from all these nasty divorces/deaths that have taken place and left some people financially ruined. At the risk of sounding negetive, things dont always stay the same and don''t assume they will just because you have been together for a long time. In a nutshel,its very stupid ofyou to let these love sentiments cloud your judgement and make her a beneficiary and leave nothing for your family. Remember:There is exgf or wife but no exfamily. So wake up and make some contingent and realitic plans!!!!!!!

Reply to ...
Posted by: cybershrink | 2011/05/28

This is primarily two questions. One is essentially legal - I think, for instance, you can and maybe should, specify in your will that your primary beneficiary is whoever is your wife at the time of your death, and if you are not married at that time, then it should be X. Or you can leave your wife at the time the USE of a specific house for her lifetime of as long as she chooses to live there, but then to revert to the named relatives. Nomatter how much you love each other now, this may not be forever, and you may each have clear ideas about your duties to your parents.
But the second aspect of your question is the issue of mutual trust, and related issues - isn't this best discussed together rather than basing your decisions on assumptions ?

Reply to cybershrink
Posted by: Mandy | 2011/05/27

I think it''s a good idea to add other beneficiaries, like your parents. After all, they may turn to you one day for financial support and if you aren''t there.... On my policy, my parents and my boyfriend are beneficiaries and on my boyfriends policy, his mom and I are his beneficiaries. It''s nice that you have this trust, but if she isn''t making you a beneficiary then have a bit of a thought about the love and the trust. I''m not saying it''s like that, but still.

Reply to Mandy
Posted by: MKA | 2011/05/27

No man - it is not like I am encouraging my killing but it would be stupid to die and forfeight the money you have been investing because you think you benefector will kill you.

Reply to MKA
Posted by: Loli | 2011/05/27

Oh! so you want her to start planning for your funeral? I sugg u add ya family member o moratang to get half of everything you OWN, As yena her sister will GET ALL AND WENA NOTHING :(

Reply to Loli

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