January can be the time of year when people reflect on the past year and look to the future. What does that have to do with life insurance? Reflecting on the past year and the upcoming year gives you a chance to look at changes that have happened in your life and changes that will be happening. Life changes can a lot of times generate a need to re-evaluate your life insurance needs. Five life changes that can generate a need to look at your life insurance (or lack of) are marriage, buying a home, having children, divorce, and a new career or job. Today we will look at marriage. Marriage can bring a dual income, more debt and expanding financial responsibilities. If you were to pass away would your spouse be able to cover the bills without your income? Life insurance may be the answer to avoiding financial ruin in the event of the death of a spouse. Did you marry young and not have any debt as of now? What about in the future, will you buy a mortgage or have kids? Will you have a funeral? All of those cost start to add up, buying life insurance can help ease that burden. Keep in mind that life insurance is typically cheaper when you are younger. You may be able to lock in a favorable premium that can last your through your need period. You might even be able to save money on your home and auto insurance.
