It has long been recommended that you and your new spouse purchase life insurance when you get married. This helps to create a stable foundation on which you can build your life together and protect one another in the event one of you experiences an untimely death. Here at Cordell Insurance, serving the greater Baton Rouge, LA area, we are often asked if you really need to purchase life insurance or increase your existing policy when you get married. Here is what you need to know.
Many couples live together and even buy houses before they are married these days. These couples should have enough life insurance on the other party to cover the debts that they have together and to ensure your partner is able to live the life you planned if your income is gone. If there is enough life insurance already in place to cover these expenses, you likely do not need to increase your life insurance coverage immediately after getting married.
If you and your spouse do not have life insurance, or do not have enough life insurance to cover the debts you have together and to afford to live the life you are used to with each other’s incomes, then it is strongly advised that you purchase a new life insurance policy and/or increase the life insurance policies that you already have in place. This helps to protect the both of you in the event someone passes away early in life.
If you are in the market for a new life insurance policy in the greater Baton Rouge, LA area, visit Cordell Insurance today. We can help you determine just how much life insurance you need based on your circumstances.