Answer Centre

Loss of a loved one

The loss of a loved one is one of life's most stressful events and can cause significant emotional distress. Those who lose someone they love experience bereavement, which literally means, "to be deprived by death."

During this time, it’s important to listen to your feelings, and to allow yourself to do the things you feel you have to do. Even if they don’t make sense to you, it is part of the healing process.

  • Give yourself permission and the time to grieve.
  • Don’t force yourself to be strong and put on a brave face.
  • Accept your limitations and your feelings.
  • Listen to your body and honour its needs, whether you feel the need to rest or cry.
  • Laugh if you want to. You’re not being disrespectful to the memory of your loved one.
  • Let friends and family know what you need from them and what you don’t.
  • Seek professional help to heal. It is not a sign of weakness.
  • Participate in activities that are fun for you, and spend time with people who are close to you.

Many decisions, such as funeral arrangements and settling your loved one's estate, require your immediate attention. But the pressure to make these decisions can seem overwhelming. During this time, lean on those who want to help and want to be there for you.

Taking care of your future

Certain decisions, such as drawing up a new willand reassessing your own insurance needs can wait until you're thinking more clearly. In time, you will want to organize your finances to ensure the dreams you shared with your loved one, such as a comfortable retirement and sending your children to college, still come true.

With the help of professionals you trust, including your Financial Advisor, you may want to consider these and other important financial decisions to help safeguard your own future:

  • Review and revise your will, updating beneficiary designations. If you have lost your spouse and you have children who are minors, you will need to designate a legal guardian.
  • Consider trust arrangements for your children if you are their sole parent. If you have adult children, consider how your estate should be divided upon your death.
  • Consider purchasing critical illness insurance. If you become seriously ill or injured and are unable to work, your coverage will help you pay your bills and maintain your way of life.
  • Take a look at your life insurance coverage. If you are now a single parent with dependent children, make sure you have the coverage your family needs if something happens to you.
  • Review your insurance coverage for your home, life and automobile. You will want to make sure your policies are in your name and include all the coverage you need. Cancel any policies that no longer apply.
  • Review your retirement plan. If you have RRSPs or other investments, you should meet with your Co-operators agent to determine what adjustments need to be made or what you should do to ensure you enjoy a comfortable retirement.

For more information, talk to your Financial Advisor.