TrudyBeerman

Married 7 years or Less? Adulting is Necessary. Plan for the What If…

Married 7 years or less? Chances are, you are still in the Honeymoon phase. However, the blindness of love will be long gone and reality has begun to set in. Your promise of “till death do us part” is being tested for commitment.

Marriage is a merger of more than just housing and emotions. Marriage is also a merger of your money. Even if a prenup is in place that does not negate the forward merger of your money and your responsibility to your family from here on.

married, marriage, Now that you have started the foundation of your forever family, have you considered protecting each other? Have you considered avoiding a possible burden on each other?

If/when you have kids, if your income is challenged because (God forbids) one of you passes – what happens then? You hope some other new man/woman will step in to finance your family? Maybe hope your parents can?

One of the adulting things that come with being married is understanding your lifetime commitment to love and protect each other and your children. According to statistics, some ethnic groups are also a minority in their participation in creating these family protections which perpetuates poverty and limits opportunity for future generations.

When you vowed, “till death do us part,” did not need to mean at death your legacy is over.

You can create the “Ahhh! It’s gonna be alright” feeling with an income replacement policy that allows for your living partner to receive money that you would have contributed had you not passed – so they can grieve, heal and pick up the pieces without the worry of finances during a difficult time.

I bet you have car insurance. You have it because it is legally required but many never ever have an accident and if you did, that policy is there to cover the victim and your note on the vehicle. You are worth more than your car.

If you buy a home you are required to carry property insurance. Again, that expense is to protect your note on the home and should a victim who suffers a slip and fall there. You are worth more than your home.

If the expense of Valentine, Christmas or birthday present feels like a love gift, shouldn’t the benefit of life insurance make you feel the same about that expense?

Life insurance is often more affordable than a car or property insurance. For example, my 27-year-old son-in-law has a $27/month policy that will pay out $200K should he die. His car insurance is $150/month and his home insurance is $165/month.

If you already own a policy, CONGRATULATIONS! However, when last did you have it reviewed to see if it is still relevant to your current phase of life? If you do not yet own a policy, please contact us for help. We have agents throughout the USA, and our office serves Florida families.

To my married readers, I hope to have at least got you thinking about this grown-up matter. This is just a seed-planting mission to get you thinking and maybe start having that important conversation with each other.

If you feel ready to explore quotes or to have your policies reviewed for relevancy or competitive options, please connect with me.

 

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