Life’s Financial Journeys
Protecting your income with life insurance. “How can I protect my spouse financially if I were to die?”
Before joining lives with your new partner, you possibly had few financial obligations to anyone else, especially if you had no children.
If you are coming to a new relationship with children, you might have considered the children as your only future obligation.
Determining what would happen financially to your new partner if you were to die requires that you consider your life insurance needs.
The following subtasks may assist you in protecting your income with life insurance. You will find detailed resources for these subtasks under the links in the right column of this page.
Subtask 1: Determine whether life insurance is needed at all
Subtask 2: Calculate the amount of insurance that would be appropriate
Subtask 3: Decide on the right type of life insurance
Blending Two Lives Tasks
1. Creating a joint spending plan