Why Should Couples Get Term Life Insurance? If you depend on each other's income, either to pay bills or manage debt, you'll need to replace your spouse's income if something happens. So getting a policy now for each of you is important. What Type of Life Insurance Should Couples Get? There are so many different types of life insurance out there. But term life is almost always the most affordable type of life insurance, and it’s definitely the simplest. It covers you for a fixed period of time until you're self-insured, saving you from paying for life insurance long after you need it. How Much Life Insurance Do Married Couples Need? We recommend getting 10–12...
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When you were single, you may not have felt the need to get life insurance, but once you’re married life insurance should be on your mind. Every financial decision you make, beit your home, car, or kids if you want them, now includes two people and likely two salaries. If you die, how can you best support the people you leave behind? Life insurance is the best solution for most of us. Here’s everything you need to know about life insurance for married couples. We’ve angled it towards life insurance for young married couples, but it applies to couples of any age. Is life insurance for young married couples worth it? You may be young, but you now have someone who depends on...
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Key takeaways A life insurance policy or rider can help couples take care of joint commitments or future plans Couples choose to have life insurance for many reasons including to pay off a mortgage, settle debts, handle final expenses, manage living expenses, or provide for heirs Options range from an individual term life or permanent policy for each individual in a couple to riders that expand coverage Why should couples have life insurance? You’ve both worked hard to build your life together. You’ve got plans for a thriving future. Life insurance helps ensure the life you’ve built together continues. Your contributions might be financial, such as a salary that helps cover the mortgage,...
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The ring, the pearls, the latest perfume or tickets for a great vacation, you too would have tried out various things. But what if we tell you of an expression of love that would remain untouched by the ravages of time? If you want to know more, read on. Give your spouse the gift of financial security Remember your wedding vows when you vowed to be by the side of your better half for the better, or worse. What if you could ensure that a part of you remained to take care of your spouse even in your absence? Well, you can do that if you want to secure your spouse’s financial security even in your absence. Life insurance ensures that you continue to provide financial security to your spouse...
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Tying the knot? Congrats! Walking down the aisle can be one of the most thrilling (and, perhaps, overwhelming) times of your life. You're about to join forces in life and love — but also in your finances. While you may just want to focus on the joy of being married (hello, honeymoon!), now is the time to prepare for your future together, through thick and thin, richer and poorer — putting some emphasis on the thinner and poorer parts, just in case, because that's when things can get rocky. Because life is full of unexpected curveballs that could rain on your marital parade, it's smart to establish a financial safety net so you're more prepared for whatever may come. Here's how you can deal...
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Maybe you think that millennials and life insurance aren’t a fit because people your age are too young to need it. With the likelihood of many decades of life ahead of you, why invest in something that only pays off if you’re gone? But there are a few problems with that logic. First, Millennials aren’t all that young anymore. The oldest Millennials are pushing forty and the youngest are approaching their mid-twenties. Second, the cliché idea that people of your generation don’t have serious relationships, jobs, and responsibilities never was true in the first place. And it’s definitely not true at this point. Those relationships and responsibilities are exactly the reason people buy life...
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Wedding, joint assets and kids, if these are on the horizon for you and your partner, it might be time to look into life insurance. Settling down, whether you know exactly what that looks like or are happy to let things take their course, if you and your partner are building your future together you may want to consider life insurance as part of that plan. Life insurance isn’t just for married couples with kids It is accepted that most couples will take on some debt to get married, with the average cost of a wedding in 2018 sitting at a whopping €25,000, including the honeymoon. Then there are personal loans, credit cards and car finance, it all adds up! This debt is taken on for long term...
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Insurance Needs Assessment: When You're Newly Married Marriage changes everything, including insurance needs. Newly married couples should consider a comprehensive review of their current individual insurance coverage to determine if any changes are in order, as well as consider new insurance coverage appropriate to their new life stage. The good news is that married drivers may be eligible for lower rates than single drivers. Since most couples come into their marriage with two separate auto policies, you should review your existing policies and contact your respective insurance companies to obtain competitive quotes on a new combined policy. Newly married couples may start out as...
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Insurance Needs Assessment: When You're Newly Married Marriage changes everything, including insurance needs. Newly married couples should consider a comprehensive review of their current individual insurance coverage to determine if any changes are in order, as well as consider new insurance coverage appropriate to their new life stage. The good news is that married drivers may be eligible for lower rates than single drivers. Since most couples come into their marriage with two separate auto policies, you should review your existing policies and contact your respective insurance companies to obtain competitive quotes on a new combined policy. Newly married couples may start out as renters...
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Insurance Needs Assessment: When You're Newly Married Marriage changes everything, including insurance needs. Newly married couples should consider a comprehensive review of their current individual insurance coverage to determine if any changes are in order, as well as consider new insurance coverage appropriate to their new life stage. The good news is that married drivers may be eligible for lower rates than single drivers. Since most couples come into their marriage with two separate auto policies, you should review your existing policies and contact your respective insurance companies to obtain competitive quotes on a new combined policy. Newly married couples may start out as...
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