Let’s face it: we live a lot of our lives online these days. From Facebook and Instagram to online banking and even cryptocurrency, we’re more digitally connected than ever before. But when we think about our “legacy,” it’s easy to focus on the traditional stuff — like property, savings, or personal belongings. The truth is, though, that in today’s world, we’ve got digital assets to consider too.

So, while you might already be thinking about funeral insurance to take care of your family when you’re gone, have you thought about what happens to your online accounts and digital stuff? If not, don’t worry — you’re not alone. But it’s something that’s becoming more and more important, especially as more of us start storing everything from photos to money online.

Let’s dive into how funeral insurance can work alongside planning for your digital legacy, so your loved ones aren’t left scrambling with both your physical and online affairs.

What’s a Digital Legacy, Anyway?

Your digital legacy is all the online stuff you leave behind when you pass away. That could be:

• Your social media profiles (Facebook, Instagram, LinkedIn)

• Your emails, documents, or cloud storage (Google Drive, iCloud)

• Online bank accounts or investments

• Cryptocurrency or digital wallets

• Photos, blogs, and other personal content

You might not think about it much, but when we pass away, it’s not just about cleaning out our homes or writing up a will — our online stuff needs to be sorted too. And if you haven’t made any plans for what should happen to your digital stuff, it could create a bit of a mess for your family.

Why You Need to Plan for Your Digital Stuff

Without a plan, your family might not know what to do with your Facebook page, where to access your online banking accounts, or how to shut down or transfer your email. If you’ve got things like cryptocurrency or an online business, this could get even trickier.

That’s where funeral insurance comes in. Not only does it help cover the financial side of your passing (like funeral costs), but it also gives your loved ones a bit of breathing room when it comes to dealing with the rest of your affairs — including your digital legacy.

How Funeral Insurance Helps Your Family Manage Digital Legacy

1. Financial Support for Your Family

The main reason most people get funeral insurance is to cover the cost of their funeral. But, in today’s world, there’s more to it. Your family might need financial help accessing legal services or dealing with the administration of your digital assets. Funeral insurance can provide them with the funds they need to manage these tasks without having to dip into their own savings.

2. Less Stress in an Emotional Time

Losing someone is already hard enough without having to figure out what to do with their Instagram, or worrying about how to pay for the funeral. Funeral insurance ensures your loved ones won’t have to stress about where the money will come from for your funeral, giving them the space to focus on what really matters.

3. Making Things Easier for Your Executor

If you’ve appointed someone to take care of your estate (called an executor), they’ll have a lot to handle — from bank accounts to legal paperwork. When you throw digital accounts into the mix, it can get complicated. Funeral insurance helps ease the financial side of things, giving your executor a bit more room to focus on your digital legacy.

Easy Steps You Can Take Now to Plan for Your Digital Legacy

Getting your digital legacy sorted doesn’t have to be hard. Here are a few simple steps to make sure your online stuff is taken care of:

1. Pick a Digital Executor: Just like you’d choose someone to handle your physical assets, appoint a trusted person to manage your digital accounts after you’re gone. Let them know where you store your passwords and login details (you can use a secure password manager for this).

2. List Your Digital Assets: Make a list of all your online accounts — social media, email, online shopping sites, cloud storage, digital currency, etc. Store this list somewhere secure and make sure your digital executor knows where to find it.

3. Set Up Your Social Media Accounts: Many platforms (like Facebook and Instagram) let you choose what happens to your account after you pass away. You can set your account to be memorialised, or you can opt to have it deleted. Make sure your executor knows your preference.

4. Plan for Financial Accounts: If you have online banking, cryptocurrency, or other digital financial assets, leave instructions for how your executor can access these funds. This could be a simple note on where to find access information, or you could include it in your will.

5. Prearrange Your Funeral: If your funeral insurance provider offers the option to prearrange your funeral, take advantage of it. You can specify everything from what type of service you’d like to the details of how you want your digital legacy managed.  

Conclusion: Make Sure Both Your Physical and Digital Legacies Are Covered

At the end of the day, digital and physical legacies aren’t that different. Both need planning, and both can be managed with a bit of foresight. Funeral insurance is a great first step in ensuring that your family won’t have to worry about funeral costs while also giving them the space to sort out your digital affairs.

So, take a few moments today to think about both your physical and digital legacy. Whether it’s setting up funeral insurance, creating a digital will, or just making sure your family knows how to access your accounts, these small steps can make a world of difference when the time comes.

 

Disclaimer: The information provided in this article is of a general nature only and does not take into account your personal situation or goals. You should consider whether the information is appropriate to your needs and seek independent financial advice, if required, to ensure an insurance product is suitable for you.

Any product information is correct at the time this article was published. For current product information, please visit the Dollar Insurance website.