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Plan For the Future of Your New Marriage With Life Insurance

By: Michele Cleary
You may not think much about life insurance when you're in your single days, but what about when you find The One? When you're ready to trade in living single for getting married, life insurance should be one of the things you plan for - right along with the rest of your wedding. Wedding planning can bring on a lot of tasks. There's the ceremony to plan, the cake, the music, the honeymoon, and much, much more. Not to mention, you'll be combining all of your belongings with your spouse's. When you start a life with someone else, it's understandable that there will be a lot on your mind... and on your to do list. But, neglecting the purchase of life insurance shouldn't be put on the back burner.

For many people, marriage is the first time that they will take on responsibility for the well-being of another person, so it's a great time to think about purchasing life insurance. As you'll likely state in your marriage vows, you're promising to care for your partner in sickness, health, and even after death. Life insurance may not be the most exciting thing to think about when you're getting married, but a life insurance policy is something that can give you peace of mind and make living your life together that much easier.

Life insurance gives you the ability to provide for the people you love the most. In the unthinkable event of your passing, the right life insurance coverage will be absolutely crucial to your family's future well-being. Think about it this way: isn't providing for someone else one of the best ways to show that you love them? That's why having life insurance is so important when you get married.

Just like your relationship with your significant other, your life insurance policy will be unique. Life insurance plans have the ability to be customized, so your plan can fit your lifestyle and future plans. As you consider what your life insurance needs are, you can work with a Pivot Care Team Insurance professional who understands your current situation and your future plans for your loved ones.

There are some basic elements of life insurance that everyone needs to know. There are two main types of life insurance policies, and you can personalize each type of life insurance policy based on your needs. Permanent life insurance policies cover you from the time the policy is purchased until the end of the policyholder's life, regardless of age. Term life insurance policies are often less expensive than permanent life insurance policies, but term plans only cover a specific time period. For example, a term life insurance policy might cover the time from purchase to age 65. Term policies usually get increasingly costly with age, so younger policyholders usually purchase the longest term available because they can lock in a lower monthly premium.

Next, you'll want to consider how much life insurance is right for you and your new spouse. Although each person's needs are unique, an industry standard is that you should consider purchasing enough life insurance to replace a minimum of five to seven years of your salary. However, you may have other financial obligations you're responsible for - such as the purchase of your first home, a car payment, or student loans. So, if your goal in purchasing life insurance is for your spouse to have no financial concerns if something were to happen to you, you need to make sure you have enough coverage. Of course, it's best to consult with an Insurance professional to determine what coverage is appropriate for you.

Also, it's important to note that life insurance isn't just for the primary breadwinner in a new marriage. Many people often think that only the person with the larger income needs to purchase life insurance - but they couldn't be more wrong. Life insurance is for everyone. In a new marriage, two lives are merging and many assets are being combined. So, it only makes sense that both individuals can benefit from the security that a life insurance policy provides.

Just like a marriage, there is not a one-size-fits-all approach to life insurance. It's a wise decision to work with a life insurance company that understands where you are in life and what you and your spouse want for your future. Give us a call and a Pivot Care Team Insurance professional can help get you started.

Tags : Plan ,Future ,New ,Marriage ,Life ,Insurance ,life ,insurance ,policy ,purchase ,needs ,marriage ,policies ,plans ,Life
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Article Number : 213824
See All From Author Michele Cleary

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