Click to CallEstablishing a sound financial plan for the future should be a priority for newlyweds, and procuring life insurance is crucial should one partner pass away. Here are some frequently asked questions our agents at Partners Insurance & Financial Services Inc. in Huntington, WV, encounter from newlyweds when considering coverage options.
How Much Life Insurance Should We Get?
When determining how much coverage you need, consider your financial obligations. What debts would fall on the surviving partner if one spouse were to pass away? Aim to secure sufficient coverage to manage those obligations comfortably.
What Kind of Life Insurance Do We Need?
Newlyweds might want to invest in a policy that suits their budget and offers sufficient coverage upon critical illness or death. Term life insurance lasts for a specific period and pays out a defined amount if the unexpected happens. Permanent life insurance, on the other hand, provides lifelong coverage coupled with a death benefit and has the potential to accumulate cash value.
What Can Life Insurance Be Used For?
Life insurance is the prime way to ensure the surviving spouse has the financial means to pay off debts and care for themselves and any children after death. Navigating grief can be challenging enough without the addition of excessive financial strain. A permanent life insurance policy can provide a critical illness provision, long-term care benefits, and even cash value while you are alive.
Get Your Life Insurance Policy Today
While getting swept up in the excitement post-wedding is easy, failing to secure life insurance could be a significant oversight. Allow our Partners Insurance & Financial Services Inc. team in Huntington, WV, to help you get set with a policy today, ensuring a secure future.
