Planning cremation services in Bedford, OH is a wise decision at any age, but there is one generation that has not planned for their deaths, but should because of how they tend to live their lives.
That generation is Millennials. Millennials are classified as the generation born between 1980 and 2000. One of the hallmark features of this generation is their propensity to live in the moment instead of preparing for the future.
Because Millennials are more focused on enjoying the present, they are also delaying many of the milestones of early adulthood such as settling into a career and getting married, and starting a family. These milestones typically make people start thinking about planning for the future, and that includes purchasing life insurance to take care of their families if something happens to them.
However, the lifestyle of Millennials should be a motivator for them to plan ahead in case something happens to them and they die.
One of the things that many Millennials like to do because they are not encumbered by jobs and family responsibilities, is to engage in very physically active and sometimes risky adventures.
This can translate to travel to faraway countries where they climb mountains, they go backpacking or hiking through the jungles with many hidden dangers, or they go too watery destinations where they do deep diving, ride treacherous rapids, or surf deadly waves.
Because there are inherent dangers in these travels, the risk of serious injury or death from Millennials is high. Therefore, having life insurance to cover cremation services should be a priority for them.
Anytime people engage in an activity that has inherent dangers, such as skydiving or bungee jumping, they are required to sign a waiver absolving the company providing these activities of any responsibility if they are injured or they die.
Millennials need to understand that their willingness to sign these waivers without a second thought means that their lives are at risk and that they need to be prepared in case the worst happens.
At the very minimum, millennials need a living will and a simple will. Millennials need to understand what each of these documents does and why they need them. A living will gives instructions about medical care in life-threatening situations.
Living wills will let millennials choose whether they want every medical option pursued to save their lives if they are in a life-threatening situation or whether they want to die naturally with just comfort care. A living will is valid as long as it’s signed and dated.
Millennials should have simple wills that specify what should be done with their possessions in the event of their death and what debts need to be paid off with their life insurance.
Millennials are more likely to have pets than almost any other generation alive today. Millennial tend to be devoted to their pets, referring to them as their kids and as their parents’ grandkids. Therefore, one thing that Millennials should specify in their wills is how they want their pets cared for if they should die.
For Millennials who have completed college, it is likely that they have done so by going into massive debt with student loans. Provisions for paying off their debts, using their life insurance, should be stated in their wills.
There should be a current list of all debtors, payment addresses, and amounts owed so that whoever executes the will can make sure that those debts are taking care of.