What you need to know about life insurance as a newlywed.
If you are a newlywed, life insurance probably isn’t the first thing on your mind. However, it is something that you and your partner should take the time to discuss. While most couples do not consider life insurance until they have children, there are still some reasons why you should consider getting life insurance coverage today.
1) Funeral Costs
If you do not have life insurance coverage, then the costs associated with your burial and funeral will fall to your spouse and your other family members. While many people don’t think about it, funeral costs routinely exceed $7,000. This is a serious sum for your loved ones to adopt. To prevent placing this financial burden on your spouse, make sure you have a life insurance policy that can cover your burial and funeral costs.
If you die suddenly, the debts you leave behind will become your partner’s financial responsibility. You need to be particularly wary about mutual debts, such as outstanding credit card balances that have both your names on the account. These are the debts that will automatically transfer to your spouse.
Finally, the compensation offered by a life insurance policy can be a source of comfort for your grieving spouse. The money from your policy can make up for your lost income, and can allow your spouse to take time to properly mourn their loss.
These are some of the reasons why you should consider getting life insurance as a newlywed. Need assistance with finding the right life insurance policy for you and your spouse? Then contact the experts at Pierce Insurance Group. Our dedicated professionals are ready to assist you with all your insurance needs.