Life File

The importance of having a Life File

Do you know the importance of having a Life File in the event of an emergency or death and are you familiar with what the contents of such a file should be?

If you compile a quick list of your personal documents and information, can you answer the following?

  • Where is the document that contains your most recent pension fund information?
  • Have you updated your funeral policy after the birth of a child?
  • Would your significant other know who to contact regarding your vehicle finance transaction and credit life insurance?
  • Does your spouse know your tax number?
  • Where do you keep information about your investments?

What is a Life File?

It is a file that contains all your important and updated information and documentation that might be needed in the event of an accident, emergency or death. Such a file should include;

  1. Important information (e.g. name and contact details of spouse, doctor, employer, executor etc.)
  2. Certified copies of important documentation (e.g. ID document, insurance policies, driver’s licence, vehicle registration certificate, title deeds of fixed property, particulars of pension fund, latest income tax assessment etc.)
  3. Signed and valid copy of your last will and testament.

Everyone should have a Life File containing all the above mentioned important documents. If you do not have a Life File, you will leave your loved ones in even more distress if something should happen to you.

In an effort to continuously provide for the holistic financial needs of our members, we are offering free ‘Life File’ educational training to all employees of participating employer groups. The purpose of this training is to educate members about the importance of having an updated Life File and the required documents that need to be in such a file.

Article taken from our Iempact Newsletter.

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