Talking to Your Significant Other About Life Insurance

Life insurance can make a huge difference in your family’s life. It can support your loved ones through the unexpected, pay off debts, cover expenses, prepare you for retirement and much more. But more importantly, you want to protect your family in case the unthinkable happens. This is why it’s important to have a discussion with your significant other about life insurance.

Unsure about how to have the conversation with your significant other about life insurance? Then, consider these points:

You are not alone.

Firstly, start by knowing that you are not the only one who wants to have this conversation. One-third of all married or partnered consumers wish that their significant other would purchase more life insurance. An additional 16 percent of consumers do not know the details of their significant other’s life insurance policy. These numbers are even higher for millennials – 42 percent would like their significant other to increase their life insurance.1

Times have changed, but the reasons stay the same.

Having serious discussions with your spouse or partner about money gets easier with every conversation you have. You should not feel ashamed about wanting additional financial safety for those you care about most. As you go through life chances, additional insurance may make sense to keep you covered.

Have an honest, direct conversation.

Try to express your feelings about obtaining life insurance as clearly and openly as possible. It is natural to have different ideas about your family’s future. Understanding the underlying emotions at play when talking about life insurance can help you to have a productive discussion. Remember, you and your significant other are a partnership, and you both want the best for each other.

start the conversation with your significant other about life insurance

Talk about the realities.

What are the reasons behind why you want life insurance for yourself or your significant other? Are you worried about credit card or other outstanding debt? Are you focused on ensuring that your children have funds for college? Do you have a mortgage to pay? Would you need a way to help replace the income that would be lost in your household? These are all very common reasons people own life insurance. Moreover, they can serve as strong talking points during the discussion with your partner.

Lay out the facts.

It’s easy to concentrate on the cost of life insurance. However, life insurance can actually be more affordable than you might think! People tend to overestimate the cost of life insurance by more than three times its actual cost.1 Millennials have the strongest misperception – 44 percent of millennials estimate life insurance to be over five times the actual cost.1 If your significant other expresses these concerns, there is a good chance that they may be overestimating the actual cost of life insurance.

Remember: You are having this conversation because you care for each other. What’s more, you want to ensure that your family is protected for the future.

Add a AAA Life Insurance Agent to the discussion.

At some point, the discussion will move to which specific life insurance coverage is right for your family. That’s where your trusted AAA Life Insurance Agent can provide guidance. We’ll shop the market and find the coverage your family needs at a competitive rate.

Start a quote today, or call 855.318.1169 for more information on life insurance and annuities

12018 LIMRA Insurance Barometer Study.