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lifesituation
Life situation

Getting married

Two households become one. Combining policies usually saves money, and naming each other on them matters more than people expect.

Whatchanges
What changes
  • Both of you should be named insureds on auto and home or renters.
  • Two cars and two policies usually cost more than two cars on one policy.
  • Life insurance moves from “someday” to “now” if either of you depends on the other’s income.
What to do, in order
  1. Combine auto policies with the carrier that rates the household best.
  2. Add both names to the home or renters policy; a spouse who is not named may not be covered.
  3. Schedule the rings — most policies cap jewelry at $1,500 or so.
  4. Buy term life on each other. It is inexpensive at this stage and gets more expensive every year.
  5. Update beneficiaries on any existing life policies.
Nextstep

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