Life insurance is probably the last thing on your mind when you are planning a wedding or just got married. The truth is you can never be too prepared for the future. You should begin talking to your spouse about getting insurance for your life to help protect you both for the next chapter of your life. There are many reasons why you should get insurance and create a will. You will have many options to choose from so that you and your new hubby or wifey are set.
You need to plan out a will so you can decide what will happen to your estate after you pass, hopefully a long time from now. Many couples don’t think that they need to get life insurance because they don’t have kids. It doesn’t matter if you have kids or not, you still have each other which means you still rely on each other. If you both pass on and you don’t have a will that states your wishes and what you want to happen to your estate, then the state steps in with complete disregard to what your family’s wishes are. You and your spouse need to seriously sit down and discuss what both of your wishes are then you need to make it legal. Talk to a trusted lawyer who can write up a will for both of you so your family knows what it is that you want to happen in the event that you are gone.
Couples may want to think about getting term life insurance, especially if they are planning to have kids. Term life insurance is just that, insurance for a certain amount of years. You can normally get it for 20 or 30 years at a time. If you do decide to get this type of insurance, you will want to make sure it will last at least until your children graduate college. This can help give you peace of mind that if something were to happen to you and/or your spouse before your children graduate, they will still be covered. Now, like with anything, you may want to shop around for the best deal possible. Some companies may give you better coverage at a slightly higher price than companies who promise a lower rate or monthly payment.
For those of you who don’t want just a set term of insurance, and don’t want to think about it later on, you can get regular insurance for you and your spouse’s lives. This will cover you both in the event that one of you or both of you die. Most insurance will cover funeral costs at least, but you can also get it to cover so much of that person’s salary so you can still pay bills. Like with the term life, you will want to shop around and get quotes from different companies so you can get the best deal possible. If you or your spouse’s company offers insurance you can get it through the company. Some companies require you to do a physical exam before you can qualify for insurance for life, but you can find other companies that don’t require a physical to determine if you have a pre-exsisting condition or not.