Talking about life insurance does not need to be morbid or depressing. The discussion can be smooth if you approach the subject right. An estimated 30 percent of families in the USA do not have life insurance, and if your family is part of that 30 percent, it is time to have an honest discussion.  We have come up with a few tips on how to bring up the subject with a spouse or loved one. 

Plan the Time. 

Rather than springing the subject on your spouse or partner, arrange a suitable time (with no children nearby) for the discussion. Set aside enough time. Approach the issue as part of an overall family financial plan, rather than just buying life insurance.

Listen.

Your spouse or partner might have a different perspective. Listen closely to all concerns, without brushing them off. In many cases, the worries are about the cost.

Do Your Research.

Financial discussions can be among the most difficult for married people. If you have done some basic research and know the cost of a term policy, you may find your spouse or partner is now willing to invest in life insurance.

Be Specific.

Make a list of your outstanding debts and monthly payments and income. List everything, including student loans, car payments, mortgage, credit card debt, health insurance and other obligations. This will give you some concept of the amount of life insurance needed should one of you die unexpectedly.

Do it With Love.

If your spouse realizes that you want to speak about life insurance in order to protect your children and family as a whole, it is more likely to be appreciated.

What to Cover in the Discussion About Life Insurance?

In discussing life insurance with your spouse or partner, you need to cover several issues. These include:

• Should you both have life insurance?
• How much money would the family need if one of you dies suddenly?
• How many years would the support provided by a death benefit be needed?
• What types of financial support would your children need?
• What is the minimum amount of money your family would need?
• Would it be wise to ensure your mortgage is fully paid off by the death benefit?

How to Talk About Life Insurance

Considering the death of a spouse is not anyone’s favorite subject. In fact, discussing death is among the most unwelcome subjects for anyone. However, you owe it to your family to ensure they are not left with financial troubles if a sudden death occurs. While we all hope to live a long and happy life, most of us have experienced the loss of a friend or family member and are aware that life can take some unexpected turns. 

Life insurance is a critical aspect of ensuring your loved ones are protected, even in the worst-case scenario. Rather than waiting and putting your loved ones at risk, take the time to talk about life insurance as early as possible. In the end, your spouse or partner will recognize that you want life insurance because you care. For more information about life insurance in order to start a discussion with your spouse or partner, please contact one of our local agents, who will be more than happy to provide you with the options available.