Life Insurance can be used to protect against the lost of one's present and future earnings. Also, you might have recently made a major purchase such as a bigger home or luxury vehicle. It is important to review your current life insurance coverage, because to most, it is necessary to protect their spouse from financial ruin in the event of an unexpected demise.
Health Insurance can lead to endless discussion, when it comes to married people. When both spouses have health insurance at work, the total family cost is one of many factors that should be discussed. This is the perfect time to review one another's coverage and compare apples to apples when applicable. Married couples need to decide to stay with their health insurance policy or join with their spouse's plan. This is not usually an issue if someone is self-employed, the group health insurance of your spouse often makes more sense than an individual policy. Decide whether the Company's PPO, POS, or HMO makes sense for your particular situation.
Disability Insurance, short-term and long-term may have been included in your employee benefits. However if this is not to the case, spouses need to discuss how they will be able to pay the mortgage and bills if one or both of them became disabled. This is a plug for reading your employees' benefit book. Auto and Homeowners Insurance takes credit into account. Remember if your spouse has bad credit, it can negatively influence the cost of your policies, that will be written in the future upon renewal.
Buying Insurance as married folks can lead to bitter discussion. However if no discussion is ever made, then chaos can come from doing nothing. To never have that talk about buying additional life insurance might lead to a default on the mortgage when the other spouses dies. Choosing the wrong group health insurance may lead to greater out of pocket expenses. Please read and know what benefits you are entitled to under your individual and group plans.
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