Insurance Issues that Concern Married Couples

Insurance Issues that Concern Married Couples

What is it?

If you are married or planning to marry, you should determine how marriage impacts your insurance needs. The lack of proper insurance protection can lead a married couple into financial ruin. If you already have disability or life insurance policies, determine whether your existing coverage is adequate and update your list of beneficiaries. If you do not have either a disability or life insurance policy, consider whether or not your marital status changes your need for insurance. You should also review any existing policies held by you and your spouse (or spouse-to-be) and consider pooling them with one company or having multiple policies with one company in order to receive discounts and lower policy rates.

Tip: If your employer does not offer a particular type of insurance or if the amount of insurance offered is not adequate, consider purchasing an individual or private policy.

Health insurance

Because of the high cost of medical treatment, a poorly timed sickness or accident could be financially devastating to your family. To avoid a financial disaster during a medical crisis, you and your family should have health insurance.

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