Just Married? Here’s Why You Need Life Coverage
As a newly married couple, buying life insurance is probably the last thing on your mind. Even though you just spoke the words “until death do us part,” you might be convinced that it is so many years away. You’re young and healthy, do you need to be worrying about life insurance right now? In reality, now is the perfect time to purchase life insurance. Here’s why.
You both have loans.
You may be grown up but those student debts are still hanging over your head. If your spouse died before the loans are paid off, you are responsible for their debt. This amount could be as much as a new home (or more!). Life insurance can help to pay off outstanding debt that either of you have so that the living spouse can retain the same quality of life.
You rely on teamwork.
Whether both spouses earn an income or one is the primary wage earner, both people provide value to the marriage that would need to be compensated in the event that one spouse died. It’s important not to underestimate the stay-at-home spouse since the working spouse would need to pay for cleaning services and more if the other one passes.
You want children.
The costs associated with raising a child are astronomical. Life insurance can help provide for children when you are not here anymore. An ideal life insurance policy will provide for the child and leave money for the spouse to continue meeting financial obligations.
Life is unpredictable but preparedness can help ease the financial and emotional burden of traumatic and life-changing events. Although talking about end-of-life matters is not something you want to do with your new spouse, it is still incredibly important for achieving peace of mind for married couples.
After the honeymoon is over, couples begin the new adventure of building a life together. With this, comes the opportunity to consider life insurance coverage to better protect each other. Whether you’re married, engaged, or otherwise, the team at Kneller Agency is here to help with all of your life insurance needs. Visit us in New York to get started on your tailored policies.
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