5 ways to start a conversation about life insurance with your family

Easily making its way into the top 5 topics of conversation we least enjoy is that of life insurance. Especially when discussing it with your family. It combines death and money, generally two things we often don’t even like to think about let alone verbalise. Yet talk about it we must, for it’s an important topic and one that really can’t be swept under the carpet. Below we’ll examine 5 of the best ways to start the conversation.


conversation about life insurance with your family

Find out their fears

Without understanding why your loved ones may not wish to talk about life insurance, you’ll find it almost impossible to get anywhere. Talk to them first about why they don’t want to talk. It is important to be non-judgemental here, no matter how irrational you may find their fears. The goal is to create an open channel of communication here, and that means listening just as much as talking. Listen to their concerns, and address them together.


Talk through the process

A lot of the fears people have are down to misconceptions they have around life insurance itself. Talk through the process with your beneficiaries, this will help to make them feel involved in the process. This also helps should they need to use the policy, they understand what they need to do and so have one less thing to worry about.

The nature of these conversations will very much depend on the age of your beneficiaries, and for young children it may not be appropriate. However talking through such processes can also help with their own financial literacy, something that is invaluable in the modern world.


Focus on the benefits

Often people do not see the benefit of a life insurance policy, as it either pays out upon death of a loved one – not really a benefit! Or they never use it and so it was a waste of money. However, the financial security and in turn peace of mind provided is a benefit in of itself. Focus on these benefits when discussing with family. We hope never to have to use it, but having it gives you freedom to live presently knowing that should your family need it, it’s there for them.


Find a good time

Waiting at a red light is not the best time to bring this one up. Don’t spring it on your family, if you know they’re uncomfortable around the subject this is unlikely to help matters. Instead arrange a time where you can all sit together and calmly discuss everything . Your family might  find it overwhelming to discuss in one go, if so take it in stages. There’s no set amount of times you have to talk about this, and it’s important that everyone is on board.


Discuss additional benefits

We’ve touched upon the mental and financial benefits it can have, but neglected to mention other benefits your policy could have for you and your loved ones. Quite often your employer may offer employee life insurance, these policies can come with incentives such as healthcare packages, access to a GP 24/7. This way rather than focusing on death, you’re focusing on staying healthy. Welcome conversation in any household!


5 ways to start a conversation about life insurance with your family  is a feature post 


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