Having an insurance cover is not an ideal couple’s romance, but in all honesty it is an important one. Couples get married and one thing they fail to plan hitherto is the financial aspect of their lives; there is almost always this ‘let’s get married first’ syndrome.
Many frown at the concept of insurance and even see no need for it, especially in developing and third world countries. That’s a mentality that needs to be adjusted.
I’d share five basic reasons why insurance is important to married couples
In the case of life insurance
1. TO PROTECT YOUR FAMILY
Times without numbers, we have seen lots of cases where a well-to-do family starts struggling just after the death of the bread-winner of the house, and even in the case where the other partner is also working.
A report that was released by New York Life found that 68 percent of widows reported significant life changes after the death of their spouse, and financial challenges were the number one change.
Life insurance policy serves as cover in the case of deaths. Many family financial challenges would have been averted if the victim was insured.
2. IT ADDS FINANCIAL SECURITY
We all clamour for financial security, and insurance is one of those ways financial security can be boosted. With insurance, your kid’s education can be funded even in the case of unforeseen circumstances. Insurance just adds that lease of life to your financial security, making you all round prepared for eventualities.
3. INSURANCE IS AN ASSET
Insurance could be an asset even when you don’t have assets. A lot of people die without leaving anything substantial for their children, that’s a big mistake every married couple should never make. Naming your spouse or kids as beneficiaries would leave them with an inheritance and leave them with a strong financial base to start with.
For general insurance like:
4. HEALTH INSURANCE
The cost of healthcare is always on the rise; getting good medical treatment is getting more expensive as the days go by. Our health is one the most important aspects of our lives; if our health is jeopardized then every aspect of our lives could go wrong. There is almost always the case of unforeseen health risks that stand in wait, and if one isn’t insured, the cost of treating those illnesses would be fatal. Health insurance would help couples in the case of these unknowns that are likely to surface any time.
5. Motor insurance, personal accident insurance, travel insurance, fire/house owners /householders insurance can also protect couples from unknown variables such as property loss, accidents, liability arising from damage caused by yourself to a third-party etc.
You might not seem at any risk, but life itself is a risk; get insured!
Jake