Do you need life insurance as a newlywed?
If you’ve just gotten married, then getting life insurance is probably the last thing on your mind. However, there are some legitimate reasons why you should consider investing in a life insurance policy. Here are some of the things that you and your partner should consider when discussing life insurance.
If you were to die suddenly, the burden of your debts would fall to your new spouse. You need to be particularly wary about mutual debts. For instance, if you have credit card debt with both your name and your spouse’s name on the account, then this debt would definitely transfer to your spouse in the event of your death.
- Funeral Costs
If you do not have insurance coverage, your spouse and family will have to assume the cost of your burial and funeral. With the average funeral costing upwards of $7,000, this is a serious financial burden for your loved ones to adopt. If you have a life insurance policy, then your death benefit will provide coverage for all your burial and funeral fees.
Perhaps the best reason for having life insurance is that it could provide a source of comfort for your grieving spouse. Not only can your life insurance policy provide a measure of financial security for your spouse, but it can also provide them with the means to take time off work so they can properly mourn your death.
These are some of the reasons why you should consider getting life insurance as a newlywed. If you would like to get the right life insurance policy to meet your needs, contact to the experts at Steve Wilk Insurance Agency. Located in Illinois, check out our new office at 310 S Main Street, Suite C, Lombard, IL 60148.