Finances have, traditionally, been a male responsibility. It is therefore women generally find themselves lost when it comes to financial matters. But ignorance is no bliss and it is time that women take charge of their finances as well to be ready to fight any untimely setbacks. In an attempt to make your life financially organised here is a list of documents every woman should know of so that one remains prepared in case of any eventuality:
1. Life Insurance Documents. Talk to your spouse to know about life insurance policies and where the policy documents are kept. Apart from physical documents, you should also hold insurance policies in an electronic form so that you have access to all policies under one umbrella.
2. Health Cards. It is always better to keep the health insurance card of you and your family members handy to fight any emergency. It is also advisable to keep Third Party Administrator (TPA) details handy such as phone number and address so that in case of an emergency you can speed up the cashless approval process.
3. Property Documents. House is one of the biggest investments. Therefore, you should have a proper file where all the property documents are kept safe. Property documents are important, especially if a partner dies without a will, as in that case, the surviving spouse can face several issues relating to the transfer of assets.
4. Investments. Keep all investment papers together as they are needed at the time of redemption. Similarly, locker keys along with locker papers should be in the knowledge of both the partners to deal with eventualities.
5. Will Documents. A will is a document, which contains wishes for the distribution of assets after the demise of a person. If the person dies intestate it can lead to disputes involving court cases. It is, therefore, advisable to have a will and let all the family members know about its whereabouts.
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