For all you “marrieds” out there—think back to the moment when you said your marriage vows. If you had a traditional ceremony, you and your spouse likely uttered something along the lines of the phrase “’Til death do us part.” After that moment, if you’re lucky (and like most married people), you probably don’t think about the death of your spouse—much less talk about it with your partner. However, avoiding the topic because it’s difficult, and neglecting to discuss life insurance with your spouse, can be detrimental to your family’s financial security.
Not sure how to get the conversation started? Here are some tips to help you:
Pick the right time
Don’t try to discuss life insurance with your spouse when either of you is distracted by other things like children, work obligations or a visit with the in-laws. Discussing life insurance with your spouse may be easier when you’re talking about financial or estate planning or when you are planning for the birth of a child. If handled sensitively, before or after a birthday can be an opportunity, too.
Start with logic
Discuss life insurance as a rational decision to protect the future financial security of you, your spouse, and any children you may have. If your spouse is uncomfortable having a conversation about their own death, frame the discussion about life insurance from the perspective of what it means for surviving family members.
Make the case with numbers
Emotion can sometimes cloud what should be a very black-and-white decision. During your discussion with your spouse about life insurance, lay out the facts about how much it would cost to pay the mortgage, provide child care and fund college—and what it would take to meet these obligations without your spouse’s income or household contributions.
Review life insurance quotes with your spouse
Sometimes perception is not reality when it comes to the cost of life insurance. Life insurance can be very affordable and the best way to prove it is to get a quote based on your specific situation. Our insurance professionals can provide you with life insurance quotes based on the coverage options you need, so you can share them with your spouse during your conversation.
Revisit the topic regularly
If your spouse wants to take some time to consider a life insurance purchase, that’s fair, but don’t let the conversation lag too long. Make a date to revisit the topic even after you and your spouse agree on a life insurance policy to make sure that your coverage keeps up with any life changes such as the birth of more children, an increase in debt obligations or changes in employment status.
No one likes to think about death, especially not their own death or the death of their spouse. However, having a discussion about life insurance with your partner doesn’t have to be negative—it should focus on the benefits to surviving family members that having a life insurance policy provides. In fact, a life insurance policy is one of the easiest ways for husbands and wives to ensure that upon their passing their spouse and other family members fare financially better rather than worse.
If you have questions about life insurance, let’s talk! Contact one of our insurance professionals today!
About the Author
Kim Parsons resides in Cassopolis, MI and has been in the Commercial Service Department at Kemner-Iott of Cass County since 2008. Kim is beginning her 6th year competing in a beach volleyball summer league, has a passion for riding her motorcycle and loves taking her dog, Finn, on long walks in the summer. In the winter, Kim enjoys all activities but particularly loves to snowboard.
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