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Newlyweds Should Own a Life Insurance Policy [Top 7 Reasons Why]

newlywed life insurance

Most people get married young and the good news is that life insurance rates are very affordable the younger you are.

Another good thing about being young is that it is easier to qualify and be approved for no exam life insurance, so you can skip the medical exam and get approved in as little as 24 hours!

Having said that, there’s no doubt that getting married is one of the most exciting times for an individual!

But let’s face it…

It can be quite stressful as well! After all, it’s not like planning a wedding is easy, and if you mix in other variables like moving in together or buying/renting a new home, well then, we don’t need to tell you that things can get a bit crazy!

Which is why…

Choosing to purchase a life insurance policy for one another leading up to a marriage probably isn’t on everyone’s top 10 list of things they need to do!


Once the dust settles and our couples begin settling into their new reality, one of the first things that many of them will realize is that they either need to purchase their very first life insurance or supplement the coverage they already have in place.

For this reason…

We wanted to take a moment and discuss the Top 7 Reasons why a newlywed couple would choose to purchase a life insurance policy and provide some insight on what “types” of life insurance policies one might want to consider based on their insurance needs.

So, without further ado, let’s dive right in!

Top 7 Reasons All Newlyweds Should Own a Life Insurance Policy


#1. New expenses.

One of the first things that newlywed couple do right after they get married is “re-evaluate” their current living situation. This may mean that they take a second look at the apartment or home they are living in? 

Or perhaps they take a look at their current vehicle situation? Or maybe they look at each other’s furniture and decide that that couch or lazy boy that their soul mate believes is the greatest thing in the world just has to go!

Which means that…

In most cases, immediately following a marriage, newlywed couples tend to take on new expenses.

Which, in most cases, means that they’re going to be assuming new and/or larger debt. Debt that could be quite detrimental to your loved one if you were to pass away suddenly.

For this reason…

Many newlywed couples will begin to “re-examine” their life insurance situation, particularly if all of the life insurance they currently own is through their employer, which may or may not be enough now that they are “officially” married.

#2. You could be assuming your spouse’s debt.

Many newlywed couples will choose to “co-mingle” their money and/or debt once they have officially “tied the knot.” As a result, this “debt burden” may now be shared equally between the two married partners.

Now, this doesn’t mean that…

All debt obligations will transfer to each partner within the marriage automatically.

However, suppose one chooses to create “joint accounts” or chooses to live in a state that has more progressive community property legislation.

In that case, one could become responsible for one’s partner’s new debt after they have become husband and wife regardless of whether or not they “officially” agreed to the new debt or not!

For this reason…

Many couples who already feel that they have enough insurance in place will still choose to err on the side of caution and purchase some additional coverage just to be safe.

#3. Congratulations! You just qualified for a 30 year mortgage.

Let’s face it; newlyweds love buying new homes.

After all, having a family and owning your own home is a part of the “American Dream,” so it only makes sense that one might want to purchase a 30 year term life insurance policy or add additional coverage once you’ve come to the realization that until your home is paid off, what you’ve really purchased is a mortgage.  

A mortgage that…

May be too expensive for an insured family to afford on their own without the help that a life insurance death benefit would provide if the insured were to pass away prematurely.

#4. Children may be arriving soon.

While it’s true that having children isn’t something that all newlywed couples may be thinking about, it’s safe to say that a lot will be.

In fact, having a child or thinking about having additional children is probably one of the most common reasons why someone chooses to purchase a life insurance policy in the first place!

It’s also a reason…

That can complicate one’s ability to calculate how much life insurance they may need accurately.

Because in addition to factoring in things lost wages and mortgage costs, which someone might want to cover with a life insurance policy, you’ll now want to factor in costs such as child care or college funds as well.

#5. You may be the primary income earner for the family.

Finances within a marriage will vary. In some marriages, each spouse will contribute an equal amount of money to the household, while in others, one spouse may contribute more if not all of the income coming in (AKA the primary bread earner).  

As a result…

One partner might share an increased risk to their financial security if their spouse were to pass away prematurely, which is why the primary bread earner may not have felt the need to purchase a life insurance policy on him or herself before getting married.

We should also…

Point out that not all “work” in a marriage or household is financially compensated.

Which means that even in households where only one spouse works, it may make sense to purchase a life insurance policy on the “non-working” spouse as well because were he or she to die prematurely, the surviving “bread earning” spouse would likely learn just how much work was being done around the house.  

Work that would…

Require payment to get someone other than your spouse to do.

Examples of such work may include daycare, cleaning, cooking, driving children to activities, shopping, etc.… All of which could become quite expensive if you didn’t have someone who loved you doing it for free!

#6. Financial Strategies.

Inevitably as one grows closer in marriage, couples will begin discussing what they would like their future to look like.

A big part of this planning for the future will likely include discussing how they’ll want to save for the future and possibly invest.  


Many newlyweds may also consider utilizing many financial strategies that can incorporate various “types” of life insurance policies, including whole life insurance (see: Infinite Banking).

#7. Creating an Immediate Asset.

 Another significant reason why many newlyweds will consider purchasing a life insurance policy is that it is by far the easiest way to create an “instant asset” that can be passed on to your loved one when you die.

You see, unlike any other “asset” that may take time to increase in value or require large amounts of investment capital to acquire, life insurance allows one to acquire a massive amount of money for a relatively small price (assuming that you would be able to qualify).

And there you have it…

Our top seven reasons why newlyweds should purchase a life insurance policy for themselves. Now, are there dozens of more reasons we could have mentioned? Sure, of course, there are. 


These seven ought to be enough to get even the most skeptical newlywed thinking that it’s probably time to at least see what a life insurance policy might cost them.

So, what are you waiting for?

As an independent life insurance brokerage, we here at IBUSA can help you simultaneously “shop” dozens of highly-rated life insurance companies, saving you tons of time.

All you need to do is just give us a call and let us show you want we can do for you!

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