Find out what you need to know about getting the right life insurance for your spouse.
As you start to plan for your financial future, it’s important to think about life insurance. Life insurance is an important safeguard to keep your family safe from financial ruin after your passing. It helps to pay ongoing bills and cover any post-mortem costs associated with your passing. People should know however that it is important to protect both spouses in a family especially when so many families have both spouses working these days. Determine whether or not both you and your spouse need life insurance. Check out what you need to know to make the best life insurance decisions by calling us at Randy Jones Ins. We are experienced, knowledgeable professionals who care about advising our clients properly.
Who Needs the Policy?
Perhaps one of you makes more than the other or maybe one of you is a stay-at-home parent. Sometimes there’s an unequal distribution of income, while other times they’re more even. Ultimately, it depends on what your family would need to replace lost income until your family gets back on their feet. If you both have equal incomes, then the loss of half your annual funds could be detrimental. Be prepared – we recommend both spouses get life insurance to protect your family.
How Long Do You Need a Policy?
Not only must you decide whether or not you both need a policy, but you must decide how much coverage you need. Think about your finances and any future expenses that you know may be approaching and possibly continuing. Determine how long it will take to get back on their feet, how long your kids will need financial support, and how long it will take to manage household expenses. Once you’ve totaled up all your needs, you can proceed to find the appropriate policy.