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Saturday, August 30, 2008 |
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Insurance Considerations for Families without Kids
Your family may be complete without children, or perhaps you have children
who are already grown. If this describes your situation, you still have a number
of important considerations in the insurance planning process.
Consider these issues:
Your spouse
Today, you rely on one another for so much — love,
support and money. Imagine how your husband or wife will manage when you are
gone. If you are caring for an elderly or disabled spouse or handle all of the
household management tasks, your spouse may find him/herself without the
resources needed the most at a critical time. Just as devastating is losing a
young spouse who provides all of the family income.
So, how much is enough? Start by taking a look at your current salary (or
your spouse's) — what is the family income today? Will your spouse need
to replace your entire salary to live comfortably - or to provide any
special support or care services? If so, you'll need to purchase enough
life insurance to replace that important salary.
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