It seems married couples are not listening to this part of the wedding vows. A recent study by Allstate Insurance Company shows the majority of newlyweds are not taking steps to protect themselves financially with the purchase of life insurance. 61 percent of respondents did not have a life insurance policy when they got married, and 64 percent of those still had not bought a policy within their first three years of marriage.
With all the changes a new marriage can bring, it’s easy to see why life insurance can be put on the back burner, or forgotten altogether. However, it’s important for new couples (both young and older) to consider the potential dangers that accompany the uninsured, especially in a new marriage that includes children or significant assets to protect.