Money Isn't Everything, Apparently!

0 - 0 • Published 10 Jun 2009 11:45 0 Comments

Jump to first paragraph.

Share this

Despite the recession putting pressure on our pockets, research from the

Post Office® today reveals that money truly isn"t everything, with just 18

per cent of Scots saying they would like to be left money when a loved one

dies, even though 29 per cent of people want to leave cash behind as

inheritance.*

In reality many people in Scotland would prefer to be left an emotional

asset, such as a treasured possession (37 per cent) or love letter (24 per

cent), than a financial inheritance, revealing a potentially upsetting

disparity between what people want to pass on and what their loved ones

actually want.

Some of the most popular things people want to receive from loved ones:

Treasured possession

Love letter

Video recording

Surprise gift

Audio recording

Favourite song

Favourite film

Gemini Adams, grief expert and author of Your Legacy of Love: Realise the

Gift in Goodbye, said: "When it comes to preparing for the "worst"

typically we"re encouraged to write a will to share our financial assets,

but what our surviving loved ones really need is a continuing bond, to help

them remember us, and how much we cared.

"By leaving emotional assets, together with our financial assets, we can

share our total "wealth". Preparing for the end of life isn"t very

appealing, yet by taking advance action we can all realise the gift in

goodbye, and leave a legacy that can help to alleviate the grief and

suffering of our family long after we are gone."

It's not just money that people don"t like discussing. When planning a

funeral 30 per cent of adults say the arrangements have caused family

feuds, and an additional 15 per cent said not knowing what a loved one

wanted in terms of a funeral or life celebration also concerns them.

Furthermore, over 10 per cent of Scots worry they will not be able to pay

for the send off they think loved ones deserve, which is especially

worrying given that seven in 10 (70 per cent) people aged over 50 have

failed to make any financial provisions.

Duncan Caesar-Gordon, Head of Protection Products at the Post Office, said:

"Although many people do not want to be left any money, they could incur

funeral bills, which is a worry for millions of people who want to provide

the best possible funeral or life celebration in remembrance of loved one.

"The reality is that funerals are one of those things that nobody wants to

prepare for and as a result put little or no financial provision aside for

it. This means that should the worst happen, family and friends will be the

ones left to pay the bill. Ultimately, this could mean that you don"t end

up with the funeral of your choice. However, this can be avoided with a

simple plan, like Post Office Over-50s Life Cover, costing from just £7 per

month."**

The Post Office Over 50s Life Cover is guaranteed for all UK residents aged

between 50 and 80 with no medical questions or checks needed. Customers

can choose how much cover they want with premiums starting from as little

as £7 a month.

To find out more about Post Office Over 50s Life cover or any other Post

Office insurance policy, log onto www.postoffice.co.uk, call 0800 096 5484

or visit your local branch.

Follow @cumnockchron

Return to the main index, get more from this section or browse our News archives.