MONDAY, JUNE 1, 2015
 There are many talks a couple should have before getting married, but there are even more important conversations they should have after their nuptials. One of the most important of these conversations concerns life insurance. Life insurance, although a grim topic, is a necessary conversation to ensure that the family a spouse leaves behind can continue the same lifestyle they are accustomed to living. The following tips are meant to help married couples begin the conversation about life insurance.
Set a Time and Date for the Conversation
Couples should never have a conversation about life and death in conjunction with another conversation. Setting a time and date to discuss life insurance ensures that the focus remains on taking care of the family, and it underscores the serious nature of the conversation.
Prepare with Research
Many people have apprehensions about life insurance, so anyone truly considering purchasing life insurance must support their position with facts and statistics. Spouses should take the time to understand how investing in life insurance can help the surviving spouse pay for final expenses, make mortgage payments and help pay for their children's education. More importantly, with enough life insurance coverage, a surviving spouse can take his or her time dealing with the grief of losing their partner while still supporting the family.
Examine the Finances
Life insurance is an investment that people make to secure their future. By committing financially to maintaining the life insurance policy, couples must be able to financially support the policy over the course of a few years. Purchasing a policy that threatens the family's budget can potentially jeopardize the insurance policy, which may leave the family in a financial conundrum if one spouse dies.
Highlight the Features of the Life Insurance Policy
There is much more to life insurance than covering expenses when someone passes away. Some life insurance features include:
- Waiver of Premium: If a person becomes gravely sick or disabled, the policy pays for itself.
- Spouse and Child Riders: Term insurance for spouses and children at a lower cost than purchasing them alone.
- Loans: Whole life and universal insurance policies build cash value, which owners can borrow against.
- Accelerated Death Benefit: Individuals who develop chronic conditions can receive money against their death benefit to help pay for treatments.
With all of these features, life insurance streamlines the process many couples have to go through to protect their future. With one policy, a couple can cover multiple life events that threaten their family.
Once you're ready, we're here to help you find the right coverage. Call KJE Consultants at (866) 260-5330 for more information on New York life insurance.
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