Transferring Life Insurance After Marriage

We help you take stock of your life at  Windermere Insurance in Greenwood Lake, NY. What better time to reevaluate your insurance needs than after you say " I do"? 

Recently married couples need to take a few moments – needless to say, of course after the honeymoon – to consider revamping all of your insurance policies. If you haven’t taken care of this before your wedding vows, it is a good chance that your life insurance policy needs to be adjusted after your nuptials.

Some items to be considered… 

If this is a second marriage review who the beneficiaries are on your life insurance policy. If you were previously single you may want to consider increasing your coverage amounts since you have the responsibility of a spouse now. Speaking of increase, if you plan on having children it is a good idea to plan for them accordingly as well.

If you have insurance through your employer only you may want to consider taking out additional insurance. Checking all beneficiaries on all policies is a word to the wise.

Transferring a beneficiary is not difficult to do, however you need to speak with your insurance agent since it also involves who has taken out the policy. 

Speaking with your agent about transferring to a whole life policy if you currently have a term life policy is key at this juncture in your responsibility. Whole life policies feature cash value building as well as other investment facets that may be helpful as your family grows. 

Contact us as at Windermere Insurance as soon as possible after you have been married to discuss your life insurance needs. You and your significant other are welcome to come in to see us if you are in the Greenwood Lake, NY area or nearby locations.