A Life Insurance Agent’s Perspective on Getting Married
Adulthood is most marked by the decisions you make, and not by the amount of birthdays you’ve had. As I’ve grown older, I’ve had to reassess where I am in life and how to achieve my goals. Whether the pressure of social expectation or a biological yearning, I have felt like it was time to settle down. Fortunately for me, being in the relationship that I am in, I was in a position to take the ultimate step. I am happy to say that I am getting married. Later this year, my fiancée and I are going to go through a merger; the joining of two independent enterprises that share mutual goals, for better or worse.
In the book, Mergers & Acquisitions for Dummies by Bill Snow, there are secrets to success in mergers; one of which is “retain capable and experienced advisors”. Luckily, both our families and married friends have been helping. Check. “Don’t allow yourself to get too high or too low during the process.” The DJ you wanted just booked another party on your wedding date? Dammit! Relax, tomorrow, a distant cousin that is in the business might say he’d play at your wedding for half price. Score! “Check emotion at the door.” Arguments over curtains, counter tops, or the remote are ridiculous. Remember that your ability to compromise will serve you well in your new union. “Don’t jump at the first offer”, but also “don’t hold out for a marginally better offer.” If you’re lucky enough to wake up every day next to someone that you love that loves you, don’t let it go. Be happy and grateful. “Know when your position is strong or weak.” I can tell you now; this is a matter of perspective. Thankfully I am very self-aware and have mastered the phrase, “yes dear”.
Lastly, “the market is the best way to determine your company’s valuation.” This is where I get back on track to discussing life insurance. Given that this will be the 1st (and hopefully only) marriage for both me and my fiancée, we are doing it for love (remember, 2nd time for money). Our future company will have a new balance sheet. We will have a household income, not just my or her income. We will also have combined expenses, not just my or her expenses. Consolidation it would seem is good, less overhead. However, the companies going in were unequal in salary and in debt. Love aside, life insurance makes business sense.
In our joint venture, we may be 50/50 in our life together, but our individual valuations are different. I have life insurance and got a new policy because I love my fiancée. But careful thought went into determining how much insurance I should get, which was then balanced by how much I could afford. The amount was derived from part income replacement, part debt repayment, part her having something left over to ease the transition out of the relationship. Going through the same process, her numbers were different. Everyone’s numbers will be different. If you care enough about someone to marry them and trust them enough to enter into a legal contract, do your due diligence and make your spouse to be do theirs.
I’m looking forward to the big day and often get swept up in the excitement, but I’m also staying level headed. Once all the pomp and circumstance is over, my spouse and I will be left to take on the world and life together. There will be times of plenty, but also times of uncertainty on how our endeavor will go. No matter what the future holds, with life insurance, should either of us pass, our little company will at least financially, be able to carry on.
About the author: Anthony Veloso has been in the life insurance business for over 2 years. He enjoys coaching football, playing outside with his dog, and taking day trips with his wife and newly born daughter. Anthony is a strong supporter of Orphanages and Battered Woman’s shelters. He would love to put his experience to work for your family to ensure that you have the right life insurance policy. You can contact Anthony at 1-800-654-1953 or AVeloso@Pivot.com.