As a newly married person, you may never have considered purchasing life insurance before. However, now that you have someone who depends on you, it's important to consider what their life would be like without you. Would they need help paying the bills or meeting financial goals? What about you? How would the loss of your partner leave you situated financially? Below are some of the reasons the two of you should consider a life insurance policy.

The Top 4 Reasons Married Couples Need Life Insurance

1. To Support the Surviving Spouse

If the two of you have a standard of living based on two incomes, the loss of one could make supporting that lifestyle difficult. A life insurance policy could help the surviving partner support themselves until they have time to make adjustments, downsize, or find additional means of income.

2. To Pay Off the Mortgage

A life insurance policy can go toward paying off the house. This provides the survivor with considerable security and relieves them of a major financial burden. This is particularly important if you have children.

3. To Pay for College

Life insurance benefits make an effective college fund if you have children. If you have plans to pay for your kids' education, that might not be possible on only one income. An insurance policy ensures that your kids can afford the school of their choice, even if they don't receive an academic or athletic scholarship.

4. To Pay for Final Expenses

Even if you don't have children and your spouse is gainfully employed, the cost of a funeral and burial can reach thousands—or even tens of thousands of dollars. The death benefit of a small life insurance policy relieves your spouse of the burden of paying for final expenses, which could be a strain—especially when they're still mourning your loss.

For help designing the right life insurance policy for you and your spouse, contact Shelter Insurance® - Michael Flynn, a full-service insurance agency in Saint Peters, MO. They are located in St. Charles County but are licensed in both Missouri and Illinois. They also offer auto, motorcycle, RV, business, and homeowners insurance. Visit their website to communicate with them online or call (636) 441-8177 to request an insurance quote.