Life Insurance and the housewife

Life insurance is the key to the housewife’s long-term financial success, as it insures that you will get paid if there is a serious problem, like your partner’s death, if he gets disabled, or have a heart attack etc.

The problem with all new relationships is that you do a lot of work first, for which you will get paid later when the marriage is successful - this is where the risk lies! This is why you need to get life insurance on your spouse, to cover you in this dreadful situation, in a lot of the cases this will make the difference between your family’s survival or its financial demise.

As a housewife you give up your day job and so now you are totally dependent on your spouse, also you can not save money for your future, so if your spouse dies or gets disabled, you really have a big problem, except if you have the right contracts and life insurance in place.

The first step in being able to attain life insurance is that your spouse has an income, and depending on how much this is it determine the potential value of your spouse’s future income that is lost and this will determine how much life insurance can be secured on his life.

One of the foundations to be able to get life insurance is that you must be able to prove a loss on your side if your spouse should fall away or die, which is automatic if you are married, but it can also be established in a long term relationship.

Situations where life insurance and extra contracts should be considered is:

• Partnerships where you the housewife stop working.
• New serious relationships, where you have to stop work or take a morning job instead.
• When you get pregnant or is trying to get pregnant.
• Each time you partners income increases as it locks in the new wealth.

Then ideally you want a lawyer insurance agent combination to help you put all of the above in place, as in a lot of cases there are contracts that must be put in place and most of the time it is not at all so obvious what to do. One contract forgotten can have a devastating effect later!

So as you can see life insurance for the housewife is an essential part in managing your risks, and sometimes your families risks in the proses, if you have any questions don't hesitate to call, or follow this link to my website: http://sandtonkeymaninsurance.webs.com/contact-us