Marriage and Money

Discussing Life Insurance with Your Spouse

A discussion about life insurance is a tough conversation to have, especially when you're a newlywed. Remember to pick your moment, do your homework, and break up the conversation if needed.

Heart-To-Heart Conversation about Life Insurance

As a newlywed, you realize there will be many occasions to break out a good bottle of wine and light a few candles over the course of your relationship. But as you might suspect, your first discussion about life insurance probably isn’t one of them. In fact, the subject of life insurance isn’t something that most people bring up in everyday conversation. But now that you and your spouse have made a commitment to each other, life insurance is something that should be discussed – sooner rather than later.

However, because discussing life insurance means facing our mortality, it’s often that one line of insurance coverage that we continue to put off talking about. But if the thought of discussing life insurance with your new spouse is giving you cold feet, here are a few tips to get you started.

Pick your moment.

Life insurance can be a tough subject to broach, so don’t unexpectedly spring it on your new spouse at the last minute. Instead, let him or her know in advance that you want to talk about life insurance so that you’re both in the right mindset and not pressed for time. Also, try doing a bit of homework before hand so you have some basic information to get the discussion started and to address any immediate questions or concerns that your spouse may have.

Explain what life insurance can offer.

Discuss the many benefits gained from having a life insurance policy. Include the financial peace of mind of being able to replace a lost income, to have the resources to meet everyday living expenses such as mortgage or rent payments, childcare, medical bills, and other financial obligations. Discussing key benefits can often help alleviate doubts about whether or not life insurance is really necessary.

Break it up into multiple conversations, if necessary.

There’s no need to get overwhelmed and feel that you need to cover everything in one sitting. Take a break if you need one. Selecting the right life insurance policy for the both of you is a big decision, so it’s okay to take your time to have a thoughtful discussion. However, be sure to mark your calendar to have a follow up conversation or to set up an appointment with your agent.

This February, make a point to protect the ones you love most during the month of love. And while nobody wants to contemplate worst case scenarios during the honeymoon phase of marriage, getting a life insurance policy on each other can bring serious peace of mind to your union.

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All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and is meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective Life or its subsidiaries.

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Neither Protective Life nor its representatives offer legal or tax advice. We encourage you to consult with your financial adviser and legal or tax adviser regarding your individual situations before making investment, social security, retirement planning, and tax-related decisions. For information about Protective Life and its products and services, visit www.protective.com.

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