Why Getting Life Insurance After Marriage Could Be Your Best Decision Yet

Rachel Garland | Term Life Insurance | 17 Sep, 2015 | No Comments

Marriage is a whole new step in your life. As you embark on this wonderful and exciting journey together, there are a few things that you will now need to consider. In the midst of planning your holidays and household duties together, you will now need to develop a financial plan.

While managing your finances may not be your first priority in newlywed bliss, it may soon be. Planning for your financial future is not only smart, it’s essential. As you begin your financial journey together, you’ll also want to take into consideration your insurance coverage.

Insurance planning can help you secure your financial future and standard of living. Insurance isn’t about expecting the worst; it’s about protecting the future security of your loved ones.

Discover why newlyweds need to consider purchasing life insurance. Find out what the advantages are to getting coverage early and what type of options you can expect to have.


Marriage is a New Milestone

Marriage is the beginning of a new journey; it’s a huge milestone in anyone’s life. This milestone represents the start of a new chapter. Marriage represents the union of two individuals, as you begin to share your lives together, you must also consider the long-term security of your new lifestyle. The future although bright is uncertain. Marriage is often a great time to invest in life insurance. With a new household and responsibilities, getting life insurance at this stage in life can help you qualify for minimal rates while also ensuring the long-term financial security of you and your spouse.


Advantages of Acting Now

Many couples wonder whether life insurance is necessary right after marriage, and this is especially true for younger couples. After all, life insurance is probably not your number one priority when you are in your 20s or 30s. However, waiting to get life insurance can actually be a huge mistake. Not only is qualifying for lower rates much more difficult as you age, but the benefits can begin to diminish as well. Discover some of the top reasons to act now when it comes to acquiring life insurance.

Long-Term Planning

A life insurance policy works by protecting you against if the unthinkable were to occur, guaranteeing that the remaining spouse would be secured. Without life insurance, a surviving spouse can be left in a financial shambles. Unexpected expenses combined with the effects of the loss of an income can be devastating. In the event that the worst occurs, the last thing your loved one needs to be thinking about is their finances. Life insurance puts this security in place.

Maximize Your Savings

Did you know that investing in life insurance at a younger age could actually save you in the long run? Many couples overlook life insurance because they assume that they are too young. However, this could not be further from the truth. Life insurance policies tend to be the most affordable for the healthy and the young. Meaning, qualifying for the lowest premium rates is far easier when you’re young and healthy than when you are older and are in average or poor health. Life insurance is likely more affordable than you may presume. For a small fee now, you can save yourself and your loved ones significantly in the long run.

Future Financial Security

Planning to wait to invest in life insurance until after you have had children? While this may seem like a logical move, it actually can be detrimental. The future is far from certain, by planning for the financial security of your family early on, you are planning for a more secure future. In addition, with lower rates available to you at a younger age, it only makes sense to go ahead and get coverage now.


Your Coverage Options

Curious what your options are when it comes to life insurance coverage? While you will find variances within policies, all life insurance policies can be broken down into two primary types, term life insurance and permanent [whole] life insurance. Both types of policies have their advantages as well as their drawbacks.


Term policies are unique in that they offer coverage for a specific period of time. Often offering coverage for 10-20 years, term life policies are a great way to get affordable coverage. Term policies offer the most benefit per dollar for younger individuals. Typically, those under 40 will find a term life insurance policy to be their best choice. In addition, term policies are often less expensive than whole life insurance policies, offering an affordable way of obtaining coverage.


Permanent life insurance policies, unlike term policies, never expire. Meaning, it will last the entirety of your life. Whole life insurance typically costs more than term life insurance but often come with cash-value options, which can be utilized by remaining loved ones. In addition, whole life insurance policy premiums typically remain fixed, meaning your payments will always be fairly predictable.


How much coverage do you need? While this is a personal decision, our specialists can help you determine what your most affordable coverage options are. Feel free to Contact Us today to see how we can help you save.

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