You don't need to be a part of the emergency services to deal with a crisis. Do your own family disaster planning in advance to make sure that those you love are safe.

Don’t wait for tragedy to strike. Always make sure that you have some emergency relief funds set aside and that all your affairs are in order.

Do you remember those great disaster movies, with hysterical actors running around screaming as the earthquake, swarm of killer bees, or tidal wave was about to strike? Though the film would show all of the characters’ angst, complete with loud background music, it never dealt with those mundane issues that need to be addressed even during a natural disaster, such as what would happen to the mortgage once the house was leveled, whether the characters had emergency funds to live on, or what happened to their wills and insurance policies.

When Lightning StrikesCredit: Image: Suvro Datta / 

Although we all hope for the best in life and don’t expect to be hit by a tornado or mushroom cloud, the fact is that natural disasters and, unfortunately, terror attacks do happen. So how do we prepare financially for the worst?

 Always make sure that you have essential identification items, such as your identity card, driving license, credit card, and other such necessary documentation on you at all times.

 Never leave your home without any cash at all. In times of crisis, you may find yourself too far from an ATM or that it is not working when you need it. Put aside a few bills for use in an emergency situation.

 Keep a list of account numbers, insurance policies, savings plans, and investments. This information is extremely sensitive, so you could encrypt your passwords in a way that only you would remember it. You would not want to find yourself in a desperate situation and unable to access any of your funds.

 Make sure that all of your important documents, such as the deeds to your house, mortgage policies, insurance, and your will are in a safe place.

 Make sure that your insurance policies are up to date and that you know who the beneficiary and contingent beneficiary is. Check up on the disability and disaster clauses.  Is your house insured against earthquake damage?

 In the best case scenario all of your disaster contingency planning will be for naught, and you’ll never need to put any of it into action.  But since no one knows what might happen, preparation for all scenarios is the best policy. 


 Disclaimer: This article is for educational purposes and is not a substitute for investment advice that takes into account each individual’s special position and needs. Past performance is no guarantee of future returns