Blog & Articles - Gibb Insurance

Protect Your Family - Do This One Thing

Protect Your Family - Do This One Thing
Likely there are “things” that you know you should do, but for a variety of reasons you haven’t done… yet… home maintenance to-do’s, maybe updating your will, getting an oil change… when we take the time to perform these pesky tasks, we feel better. 

Here’s one thing we recommend adding to your to-do list: documenting and storing your personal details and financial information. 

No one expects something bad to happen to them, but being prepared can save your loved ones considerable time and grief. What if you were unable to perform your normal day to day routine? Would your loved ones know who to contact for your insurance? Investments? Banking? 

Here are some suggestions of what to include in your personal file: 

  • Will (Power of Attorney, living will and funeral arrangements) 
  • Personal medical information and history (doctor’s names and contact information, prescriptions, allergies, etc.) 
  • All banking information (location, account numbers and passwords) 
  • Insurance information (contact name and details, travel medical insurance and all policy numbers) 
  • Investment details (contact name and details) Mortgage, lease, credit card, line of credit and/or loan details Vehicle information (copy of the ownership, insurance and loans)
  • Home inventory  
  • Copies of your passport, health card and driver's license 
  • If you have minor children, record all their information as well: doctor’s name, medical histories, insurance, investments, bank accounts, etc. 
Further advice: 

  • This information needs to be accessible to a spouse, a child, a trusted person or your lawyer in the event something unexpected happens to you. 
  • It should be stored in a secure location, such as a fire-proof safe, a safe deposit box or at a lawyer’s office which your trusted person can access. 
  • The documentation can be stored electronically on a USB flash drive or on paper. 
Discuss with your trusted person the best format for them. Your personal file should be updated anytime there is a change. Documenting and sharing your personal details will make the lives of your loved ones easier in the event of a significant life change. Do it today and feel assured that your family is prepared and protected.