NewlywedsGetting married is a big step for not just your relationship with your significant other, but also for your financial future together. After all, part of saying "I do" involves planning your life and discussing shared finances. You already know that you'll need to budget for a mortgage or rent, as well as utilities, car payments, school loans, groceries and other bills. But, many new couples make the mistake of neglecting to add life insurance to their financial checklist.

Even though losing your new spouse is the farthest thing from your mind, you must consider all possibilities when discussing finances. Losing your husband or wife could be a huge blow, both emotionally and financially.

When people hear about life insurance, they often think it's reserved for families with young children. After all, it costs thousands to raise children and put them through school, which is an investment worth protecting. But even newlyweds who have yet to have children (and those who don't wish to have children) have practical reasons to consider life insurance as well. Some of these reasons include the following:
  • Losing a spouse's salary can make it tough to make ends meet when it comes time to pay bills.
  • Losing a stay-at-home spouse means you'll need to financially cover the chores that are no longer being done at home while you earn a living.
  • Funeral services and caskets can come with a hefty price tag, which life insurance can help pay.
  • Life insurance benefits provide your surviving spouse with a monetary legacy to keep him or her financially comfortable after your passing.
  • Your life insurance policy can also benefit family members and charities of your choosing.
Once you've made the decision to purchase life insurance, you'll have to select whether you'd like a term life or a whole life policy. A term life insurance policy provides coverage for a predefined duration of time — the term — after which, coverage will expire unless you renew. A whole life insurance policy provides coverage as long as the policyholder lives, with options to accrue cash value over the years.

Your independent insurance agent can answer your questions and offer personalized assistance in finding the policy that's right for you and your spouse.

Get a quote today. Call Heritage Insurance, Ltd. at (800) 667-7640 for more information on Moose Jaw life insurance.
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