Mar 13, 2012

Would You Get A Life Insurance

As a newlywed couple you should consider having a life insurance policy for you and your spouse.

You may be asking this question yourself: "Why do I need a life insurance policy?" When you are young, in good health and just starting out a good life, no need for insurance right? Wrong! One of the basic reason would be due to an untimely death either you or your spouse. Life insurance would help cover the funeral expenses which can be very expensive nowadays.

Life insurance can also supplement your income that would be lost in case of death of the policyholder which, in your case could be your spouse. Life insurance can also be a good investment because many policies have programs built-in that will help you save money. Some policies have a provision where you may borrow against the policy. For example, you might want to buy a house or educate your children in the future. Life insurance policy has dual benefits. Later in life as your financial goals change, life insurance can help you plan your retirement. When shopping for life insurance, make sure you use a reputable local agent that can explain all the benefits you would be entitled to.

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