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Determine whether life insurance is needed at all


Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Divorce
Death of a Life Partner
Military Life


Life insurance might not be necessary if each of you are financially independent and do not depend on the income or assets of the other person.

If there are children, you most likely will need insurance to cover additional costs resulting from the loss of income for the deceased partner.

If your lifestyle depends upon the incomes from both partners, you might need insurance to cover the loss of income from one partner dying.

The following resources may assist you in determining whether life insurance is needed at all:

Who Needs Life Insurance?

Not Everyone Needs Life Insurance

Myths About Life Insurance


Blending Two Lives Tasks

1. Creating a joint spending plan
2. Building shared credit access and usage
3. Managing dual careers
4. Protecting your income with life insurance
5. Estate planning

Protecting your income with life insurance Subtasks

1. Determine whether life insurance is needed at all
2. Calculate the amount of insurance that would be appropriate
3. Decide on the right type of life insurance

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