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How to Have the Life Insurance Talk

September is Life Insurance Awareness Month and a good time to evaluate how vital life insurance may be to the financial stability of your family.

Death is never an easy topic to discuss, but it’s one that must occur between spouses. Ideally, these conversations should happen before the birth of a first child because life is unpredictable. Life insurance provides that safety in the event of an accident and later in life after someone has passed.

Whether you’re still a young couple or have already established a family, it’s important to talk about insurance. Here are some tips to help you feel more comfortable.

Getting started

Due to the sensitive nature of the topic, communicate with your spouse or potential beneficiary beforehand to let him or her know the upcoming conversation will have a serious undertone. This conversation should take place when you know there will be plenty of time. Avoid trying to have the conversation when both of your schedules will be busy, such as early in the morning while getting ready for work, or while dinner is being made.

“Now is the time to have the talk about insurance.”

There are also a few recommended days or moments to have the life insurance talk. One instance may be shortly before or after the birth of a child or after a birthday. The cost of a life insurance plan continues to increase with each passing year.  The sooner the talk happens, the better.

Emphasize your family

Life insurance can provide much needed relief to the surviving family members following a death or tragedy. When you talk about the benefits of this policy, focus on your family and emphasize what a well-rounded policy will mean for them. They will have a safety net to help pay for funeral costs, remaining debt in your name, ongoing bills and other future costs.

A good way to emphasize your family is to share numbers. Show your spouse or potential beneficiary what might happen if you won’t be around. Life is difficult enough at various times for just about everyone. We sometimes forget that, and only when presented with facts and numbers outlying the situation may we realize the importance of life insurance.

Seek help if needed

While you should be persistent trying to have a serious talk, both you and your beneficiary may realize you’re confused over where to start. At this point, schedule a meeting with a life insurance agent to seek their advice, ask for quotes and share any questions you’ll likely have.

Life insurance is a serious conversation to have, let alone start. It’s one that needs to occur, sooner rather than later.


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