by Have you insured your spouse? While this may sound a little sinister, spouses often neglect to take out proper life insurance and/or funeral cover, which may result in financial turmoil and disarray.
It’s okay, we get it. Planning your partner’s death is not exactly on the top of your to-do list, but it is as essential as taking out any other type of insurance – and why should it be any different, insurance after all, is to plan for the unexpected.
Four Reasons You Should Insure Your Spouse
4. Avoid Financial Strain
At the sudden passing away of a loved one, not many people will have the funds necessary to pay for all funeral costs such as the service, the burial, the casket, etc.
This is not even mentioning the financial strain of months to come if your spouse was the primary or main breadwinner of the family, but was not insured.
Life cover as well as funeral insurance, allows you to have the peace of mind that some time, in the not so near future, should your spouse, or you, pass away, all financial strings are tied up and taken care of.
3. Implement Good Financial Planning
The ‘elephant in the room’ is often avoiding the discussion of death when the truth is, eventually it will happen to everyone so we may as well begin talking about it.
By becoming insured against certain life causes, the impact on your family will be far less severe than if you were not insured.
It is important to have a plan to combat the financial strain of months to come if your spouse was the primary or main breadwinner of the family, but was not insured.
2. Avoid Debt By Making the Smart Choice
We all think we can avoid debt but the reality is that the loss of one income puts immense strain on the other. Despite how much we think we can handle it, without proper coverage, you may get stuck in the mud sooner rather than later.
With funeral costs, as well as the affect of losing an additional income, it is easy to see how one may fall into debt. A lot of debt.
1. Rather Be Safe Than Sorry
You care about your family, and your spouse, so preparing for your passing – however ominous it may seem – will be far less foreboding than you passing and your family falling into foreclosure.
Taking out insurance, such as funeral insurance and life insurance, can ensure your family is left with the exact (or close to it) lifestyle they had when you were alive.
As we progress more and more in the modern age, financial planning has crept into pretty much every aspect of our daily lives and is arguably a non-negotiable part of ‘adulting’.
Planning your financial future need not take up all your time and, once it is done, it is done and you are protected.
Make sure you and your family are never left wanting in order to secure a financial future.
