June Wedding? Give Your Spouse a Gift of Peace of Mind With Term Life Insurance

June Wedding? Give Your Spouse a Gift of Peace of Mind with Term Life

On June 11, my husband and I celebrated our sixteenth wedding anniversary. Yep, I was a “June bride,” and as you might guess, I do a fair share of reminiscing whenever June rolls around each year. I pull our wedding and honeymoon photo albums off the shelf, and we page through the memories. We recall the joys and the struggles of just starting out as a married couple. We think back to where we started and how far we’ve come in taking charge of our future.

Term Life Insurance: The Gift of Peace of Mind

In hindsight, one thing I wish we did earlier in our marriage is to explore life insurance options. As a newlywed, you want to look out for the well-being and financial security of your spouse, right? Term life insurance is one way you can do that. Term life, like whole life insurance, offers a way to help ensure the love of your life can live comfortably if the unthinkable happens to you.

According to the 2014 Insurance Barometer Study by Life Happens and LIMRA, about one-half of Americans say they would feel the financial impact of the loss of the primary wage earner in their household within six months of their passing. One-third of those surveyed believe they’d feel the impact within just one month!

Term life provides a death benefit (a payout) to your beneficiary (your spouse) if you die while your policy’s term (the length of your policy) is in effect. You can choose the term length from periods of 10, 15, 20, 25, and 30 years. The shorter the term, the lower the premium, and you can renew policies before they expire if you want to extend them.

The death benefit from your term life policy can help your spouse make ends meet by providing funds to cover expenses such as:

  • Rent or mortgage
  • Car loan, gasoline, and automobile maintenance and repair
  • Utilities
  • Healthcare
  • Your funeral expenses

That peace of mind would be a rather meaningful gift to your beloved, don’t you think?

An Affordable Show of Affection

Naturally, you might be hesitant to look into life insurance because of the cost. You’re not alone; 80% of people surveyed in the Barometer study overestimated the cost of life insurance.

Life insurance, particularly term life insurance, is far more affordable than most people think. With term life, you can get exceptionally low premiums when you’re young and healthy—so applying when you’re “just married” could work in your favor. I wish my husband and I would have thought of that when we said our “I dos” back in 1999!

Whether you’re getting married (or have recently married) in June or any one of the eleven other months, I hope you’ll give securing your financial future some thought. A good start would be to find out how much a term life policy might cost you by using an online life insurance needs calculator and getting a confidential, no-obligation quote online.

Dawn Mentzer

Dawn Mentzer is a solopreneur and freelance writer who specializes in blog content and marketing copy. She lives in Lancaster County, Pennsylvania and collaborates with clients nationally and globally. You can learn more about her at dawnmentzer.com and follow her on Twitter at @DawnMentzer.

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