If you're going to be walking down the aisle and you are worried about how your life could change financially after you get married, an independent insurance agent, like The Flechsig Insurance Agency Inc, is one of the first professionals you should talk with. Once you are married, you are part of a family and you aren't just responsible for yourself.
There are a lot of unforeseen things that can change your life or the life of your family. Here are a few types of insurance to discuss.
Life Insurance
No one wants to think about death, but you could get killed unexpectedly regardless to your health. You can't get caught without it like 35 million other American households. Having life insurance to help your spouse get through that time financially will be a burden off their shoulders. If the two of you are used to having two incomes to pay the bills, having life insurance to cover final expenses and to help while adjusting to a single life income is crucial.
Unemployment Insurance
If something happened to your physical health and one of you couldn't go to work, or if your place of employment shut down unexpectedly, unemployment insurance would be a source of income until you could find more work or get a new job. This insurance is worth the investment--especially if you own your own business or work in a field that fluctuates between very busy and very slow seasons.
Health Insurance
Do you have health insurance, but the plan and coverage isn't great? Getting a second health insurance policy is going to benefit you if you need to have surgery or if you have a lot of unexpected medical expenses, since it will cover some of the costs that the first policy doesn't. If you work a manual labor or high-risk job, or if you have children, a second health insurance policy should be considered. Since open enrollment only happens for a few months (usually November through February), you and your new spouse will want to start shopping now. Keep in mind that you can also change your health insurance policy 30 days after marriage since it's considered a qualifying event.
Once you get married and you join incomes, you have to worry about how your financial decisions are going to affect another person, and you have to worry about what would happen if you couldn't work or if you passed. Talk with an insurance agent about these different insurance upgrades or additions you should make or about different policies that could benefit your family and make your financial situation more secure. The more insurance you have, the better off you'll be if something comes up and you end up having to use it.
Share30 July 2015
