Providing You With Information You Need to Protect Your Family

You have to deal with a lot of immediate changes when you have a baby. While learning to live with a new little human in your family can take up all your time for a while, you should also think about your family's future at this stage of life.

For example, if you don't have life insurance yet, then now is a really good time to apply for coverage. Why? 

Give Your Spouse Immediate Financial Support

Once you have a baby, the impact of your death changes. Your spouse will be the sole provider for your child. They might struggle financially without your income.

A life insurance plan gives them financial support at this extremely difficult time. For example, your coverage could pay down your mortgage and debts. This would give your spouse a clean financial slate after your death.

You can also factor in extra money at this stage. For example, you could increase your coverage so that your spouse has some money to live on for the next few years.

Give Your Spouse the Freedom to Raise Your Child as You Planned

Not all parents want to go back to work after having a baby. One might give up their job or cut back their hours to be a stay-at-home Mom or Dad. If you and your spouse plan to do this, then you need to think about what might happen if you die unexpectedly while your child needs care at home.

Your spouse might have to go back to work to earn enough to support your child. A lot of the money they earn might have to go toward childcare costs. They might struggle to manage financially.

Your life insurance coverage can also kick in here. You can provide a replacement income for your spouse so that they can stay at home with your child as you planned. They might choose to return to work down the line but they have time to make that decision.

Give Your Child Financial Help in the Future

You might already have some ideas on how you can help your child financially in later years. For example, you might be thinking about saving money for their college education.

If you die unexpectedly, then this isn't likely to happen. Your spouse might struggle to manage everyday living costs. They probably won't be able to save regularly.

Life insurance can also provide a useful lump sum or savings income for your child's future. You might not be there to help them in person but you can give them the gift of support.

To get the financial protection your new family needs, contact life insurance services.