Passing

He “passed” away. No one likes to say died. I’m not sure why.

But when a life is taken suddenly or fades away over months or years (who’s knows which is worse); it’s a very sad day for the people left behind. So many can be affected. The spouse, kids, parents, extended family, friends, even pets. I remember when my grandmother died. The dog next door (she lived in a row home) laid with his head down on the porch for weeks. Right next to the lawn chair she occupied on many warm afternoons with him at her side. Both families commented about how sad Boots was… He genuinely missed her.

In the case of a business owner there can be additional emotional (and financial) fallout. Consider the employees, partners, customers, vendors, they too may feel the pain. Death plays no favorites.

There are no words from clergy or anyone else that can truly soften the impact, many of us don’t even try. What do you say? I’m sorry…? Everybody says that. No. We generally spectate at these uncomfortable affairs. Look around to see who showed up, who’s conspicuously absent and once in a while quietly contemplate our own impermanence. I guess that depends on your age. And after the service/rituals are over and the obligatory luncheon concludes, it’s the immediate family members who go home and quietly shoulder the loss. One thing is certain. Nothing will ever be the same.

It’s seems crazy to call it “luck” but I will, because for the fortunate among us, that individual who died made their mortality a priority. At some point in the past, they took the time to plan and protect who they loved and what they had worked so hard to build. And mixing inside the grief and tears, the survivors begin to recognize the value of life insurance. It can provide the most precious commodity. Time. Time to focus on the emotional impact of the loss and helping each other cope. And for the business owner, his/her company may survive. Even flourish. With no collateral damage to the employees, customers or anyone else. That’s a good thing.

Death can bring the hammers of hell upon us and when lives get turned upside down financially…it only adds insult to injury.

I will assume no one was very happy when the policies were issued and premiums had to be paid. Regardless, the advisor was prudent to make sure the estate plan was sound, applications were submitted and underwriting got done the right way. Still, nobody likes life insurance.

But that aversion changes in a heartbeat.