Football Sundays are for food and family, so there’s no better time to discuss family priorities with your partner! Between the thrills of last-second touchdowns and jalapeño popper refills, let your partner know about the importance of protecting these memories with life insurance.

We recommend waiting until after the game, but we do have some game-winning tips below to help you get a policy across the goal line.

Life insurance is a way to plan ahead

Whether it’s you and your partner, or you have several children in tow, life insurance is a helpful solution to a lot of financial worries. The point of life insurance is to financially protect the plans you have in store, from a child’s college education to retirement with your partner.

Open up the conversation by finding common ground on your needs: decide if you need life insurance, then choose how much coverage and how much money you’re willing to spend on a policy.

First, consider if you need life insurance at all

If neither of you have financial dependents, you may not need a policy yet. Consider these questions:

Would you have to find a more affordable home if you lost your partner/spouse?
If you have life insurance through your employer, is this policy enough to support you, and would that policy come with you if you quit or lost your job? Your life insurance policy should be equal to at least 10x your annual salary.
Do you carry student loans? Some student loans would pass the debt along to your cosigner if you were to pass away.
Do you have a small business? This debt could be passed to your loved ones if you were to pass away.

Most likely, you or your partner has someone in their life who would be financially impacted by your death. If you do, you need life insurance.

Choosing a policy

Once you’ve agreed on the need for coverage, discuss which type of policy would best fit your needs. Your policy depends on your age, how long you’ll have financial dependents or possibly the term of your mortgage.

If you only need life insurance coverage during the years your children are growing up/entering college, a term life insurance policy could be a good fit. If you have a 20–30-year mortgage, you could choose a mortgage protection insurance policy that fits your mortgage length.

If you know that you’ll need lifelong coverage and you want a secured benefit for your beneficiary, consider permanent life insurance.

Budget blitz

Talking about life insurance naturally involves talking about money, so you’ll want to have a good idea of how much money you’re willing to spend on a policy. Come prepared for the conversation with an overview of your household budget, including some ideas about where you could cut expenses to include the cost of life insurance.

You can get a free life insurance quote online from Quility or speak with a licensed insurance agent who can shop from 80+ insurance companies to get you the most coverage for the lowest price.

Term life insurance policies can cost as little as $18/month, with coverage up to $1 million.

Tip

To figure out how much life insurance you need, visit our Life Insurance 101 Guide.

If you fumble: How to navigate a difficult conversation

Money is a sensitive issue among couples and talking about end-of-life planning and finances can quickly bring up a lot of emotions.

Each of us brings our own perspective and financial background to the conversation, but we can agree on some common goals, such as protecting those we love as best as we can.

You may discuss how you can cut down on a certain monthly expense to fit your life insurance cost in the budget or how you could balance paying for your policy alongside another retirement savings vehicle.

Listen to your partner’s concerns and find ways to reach a common goal. There are life insurance policies fit for every budget, and if you can’t find a perfect solution on your own (life insurance is a hassle to interpret, we get it!), there are licensed experts available to help via text, virtual appointment or in-person.

Tip

Set your conversation up for success! Schedule a time to meet your partner in a comfortable setting where both of you feel relaxed and supported.

Punting the payout: Choosing your beneficiaries

A life insurance beneficiary is the person who receives the death benefit of your policy if you were to die while your policy is in force. Many couples name the other partner as their beneficiary. You could also choose a trusted loved one who would use the payout to support your children.

Make a game plan

Now that you both are in alignment with your life insurance needs, create a game plan and set deadlines to keep it moving. Any given Sunday should work. 😊

Take the key points from your discussion into consideration: If your partner is concerned about cost, make your goal for the week to get quotes for 3-4 policies. If they are concerned about choosing the right policy, find some resources to guide the discussion or consider meeting with a licensed insurance agent so that they can use their knowledge and resources to help you get the best price and policy.

If you are looking for permanent life insurance, don’t forget to look into whether you’ll need a medical exam. If so, your next step could be to schedule appointments with your doctor (or find policy alternatives where no medical exam is needed).

Score for life with a policy from Quility

We are always here to help you find the best-fit plan for your life and to help you navigate those difficult conversations about life insurance.

Get a free quote for life insurance today and then apply online – with a policy delivered to your inbox in 10 minutes or less!

How To Start the Life Insurance Conversation With Your Partner (A Playbook)

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