Couples planning a future together should definitely discuss having life insurance. And the best time to think about it is now, while you are young and healthy.
For married couples with children and a mortgage it is even more important to start thinking about getting life insurance so that the people who count on you will be taken care of if anything were to happen to you.
By having life insurance it will help cover some or all of the debt and lost income.
Many families these days rely on two incomes to get by. If something were to happen to either of you, without the income that you earn would the family be able to stay in the home? Would your family suffer financially?
By having sufficient life insurance you can help replace your income and guarantee your family's financial security. It is a good idea for both of you to have your own insurance policy to make sure your family is sufficiently protected.
If you have a serious illness or currently have health problems you will need to put this on your form. Your smoking and drinking habits will affect the type of life insurance you are eligible for and how much it costs. Smokers can expect to pay up to twice as much as an equivalent non-smoker.
Other factors that go into determining your life insurance policy are family history and your Body Mass Index (calculated using your height and weight).
If you need help deciding which life insurance policy is best for you and your partner, contact Rate Detective today for free life insurance quotes. We may be able to offer an additional discount if both partners sign up with the same life insurance company.