Life Insurance Considerations for Newlyweds

Should you get life insurance when you get married? If you recently tied the knot, you and your spouse may have that very question on your minds. The question of Why do couples invest in life insurance? may have a range of answers, but what’s certain is that there are several clear benefits to securing this important coverage as early as possible. Having Life Insurance in place from a young age, for instance, can provide your new family unit with a key security blanket for your finances and current lifestyle, potentially low monthly premiums and priceless peace of mind. Take a look at these key considerations all newlyweds should keep in mind.

Understand the Potential Benefits of Getting Life Insurance Young

One of the top reasons many newlywed couples opt to secure life insurance right away is that getting life insurance young can provide sometimes surprising benefits. Beyond insuring basic needs, getting a life insurance policy early can often help you and your spouse lock in:

  • Lower premiums each month
  • Shorter and more affordable insurance terms
  • Security in having a policy before developing age-related health conditions

Research the Various Insurance Options Available to Married Couples

One important factor to consider before settling on a life insurance policy is to research all the different options available to married couples. Life insurance is not one-size-fits-all, and there are several types of coverage that could help you and your spouse pick a policy tailored to your wants and needs. The most common insurance setups to consider include:

  • First-to-die life insurance, which will pay out once one spouse passes
  • Second-to-die life insurance, or survivorship life insurance, which will pay out after the passing of both spouses to named heirs
  • Permanent or whole life coverage, which gains value and lasts until you pass
  • Term life insurance, which provides payouts until the term of the policy is up

Decide Whether You Would Enjoy the Security Blanket of Insurance

Finally, it’s important for newlyweds to consider the potential different that having life insurance could make to their quality of life going forward. Many life insurance clients find that having coverage helps give them:

  • Peace of mind
  • Financial stability
  • Customized options
  • Lifestyle security

When you and your new spouse sit down to talk about the pros and cons of getting Life Insurance, or the upsides and downsides of different policies, there are a few essential considerations to keep in the back of your mind. Remember that getting life insurance in the early days of your marriage could potentially have its benefits, that there are several different insurance options available for married couples and that having life insurance could offer a crucial security policy for your finances and lifestyle. With these factors in mind, you and your spouse can browse your choices and find the best policy for your new marriage.

About Byrnes Agency

At Byrnes Agency, we offer insurance solutions that can be tailored to meet your specific needs. Whether you’re looking for personal policies or commercial coverage, we have the right coverage for you. To learn more about our products, contact us today at one of our two locations.

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Dayville Office

Phone: (860) 774-8549 

394 Lake Rd

Dayville, CT 06241

United States

Hours of Operation: Monday- Friday 9:00am-5:00pm


Norwich Office

Phone: (860) 886-5498 

6 Consumers Avenue

Norwich, CT 06360

United States

Hours of Operation: Monday- Friday 9:00am-5:00pm