When Should You Consider Life Insurance?

It may pain you to dwell on the unthinkable, but preparing for accidents and illness shows your bride that you intend to take care of her – even after you’re gone. Talk to a licensed insurance agent when you hit these milestones:

When you depend on each other’s income.
As a new couple, you might be managing student loans, car payments, rent and utilities with little cash left over for savings. If you can’t yet live off of one of your salaries, life insurance can keep you or your bride from losing everything you’ve both worked so hard to achieve.

When you buy a home.
If something happens to you or your bride, could either of you carry the cost on your own? You can buy life insurance policies that pay off the cost of the mortgage if the unthinkable happens to either of you. Though some mortgage lenders will try to add their own policies to your monthly payments, be sure to shop around for the best deal.

When you have kids.
From the moment they’re born to the day they earn their diplomas, your kids count on your income to keep them safe, fed, and educated. Instead of planning life insurance to just replace your current income, anticipate your child’s health and education expenses between now and age 21. Add that to your policy so you, your bride, and your kids can all sleep soundly at night.

When your bride stops working.
Your bride may want to stay at home with the kids. She might also want to take some time off to pursue a degree, create some art, or build her own business. Show her you support her by carrying enough life insurance to keep her projects funded if you disappeared tomorrow.

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