Divorce + Life Insurance: A Guide
Divorce is a real concept to keep in mind in the event of purchasing life insurance.
Starting a Family/Becoming a Homeowner
Financial security is a main priority once starting a family. Life insurance allows you that financial cushion and sense of security that you may desire. Many people tend to purchase life insurance after buying a home in order to include the new mortgage that is due. If something happens to them, life insurance covers you! If you purchased your home with a partner and if you have children, then a term life insurance policy is one of the best ways to provide peace of mind to your family in the event that something may happen to you. Each growing family is different, which results in varying policies that you may want to consider.
Different policies based on your situation: http://www.nerdwallet.com/article/insurance/a-new-parents-guide-to-life-insurance
Divorce
Divorce is a real concept to keep in mind in the event of purchasing life insurance. Many customers keep this possibility in their minds while purchasing life insurance, which is why many people purchase separate term life policies. This way, rather than a joint policy, you can change your beneficiary.
http://www.investopedia.com/articles/personal-finance/112515/how-life-insurance-works-divorce.asp
InsuredTY’s mission is to serve all families from all backgrounds with industry-grade Life Insurance. If you are in the market for Life Insurance email us at support@InsuredTY.com. Thanks for the support!