Insurance for Engaged Couples

An engaged couple dressed in black hold hands.

Photograph by Jasmine Carter on Pexels.

Insurance for Engaged Couples: Everything You Need to Know Before Getting Married

First off, congratulations on your impending nuptials! Once you pop the question and place the engagement ring on, a newly engaged couple will move on to planning the big day. However, the gap between getting engaged and the wedding day itself is a great time for couples to discuss important things, including insurance coverage.


What are the different types of insurance you should consider getting?

Various types of companies offer insurance plans. Ensuring you have the right coverage is crucial to securing a better future as a couple.

Health Insurance

Hospitalization costs, outpatient consultations, and costs of expenses are some of the medical expenses covered by a health insurance plan. The government operates public health insurance programs such as Medicare and Medicaid. However, couples also have the option of getting private health insurance. There are three main types of coverage for private medical insurance: basic, medium, and comprehensive coverage. The type of coverage you decide on as a couple will largely depend on your needs and budget for insurance premiums.

Life Insurance

A life insurance policy guarantees beneficiaries a death benefit when the insured person passes away. Policy owners can decide between getting a term or permanent life insurance policy. Term life insurance policies only last for a specified number of years. The most common lengths of term life insurance policies are 10, 20, and 30 years. A paid-up life insurance policy is a type of whole life insurance policy paid in full, remains in force, and doesn’t have additional premium payments.

Disability Insurance

Disability insurance is a type of coverage that helps protect insured persons when they can not work due to a disability. Much like other types of insurance plans, individuals can get disability insurance from the government or through private insurers.

Car Insurance

Auto insurance is a type of policy that protects you from financial loss in the event of an accident, vehicular damage, or theft. If you have more than one car, you can choose separate policies per vehicle or get a multi-car insurance policy to enjoy discounts.  

Home Insurance

Another type of property insurance is called home insurance. The coverage specifics will depend on your insurance provider and the fine print. But typically, home insurance covers damages or losses to the insured’s residence and assets inside the home, including appliances and furnishings. If you rent your home, you can obtain the equivalent, known as renters insurance. 


Why discuss insurance plans for engaged couples in the first place?

Talking about getting adequate insurance coverage may not be the romantic activity couples contemplate. However, it’s a critical discussion to guarantee a couple has each other for better, for worse, and so on.

A Good Practice for Making Financial Decisions as a Couple

Married life will include a lot of discussions, including ones centered around finances. Planning your insurance coverage while preparing for your life as a married couple is a good practice. You’ll learn how to communicate with each other effectively and understand the other’s point of view while making important life decisions. The topics may be sensitive or uncomfortable, but you will be able to find solutions as a team.

Save Money and Avoid Emergency Expenses

If you want to reach your financial goals, you need to work together to find ways to save and avoid unwanted expenses. You must be able to meticulously weigh your options to get coverage that’s within your budget and meets your requirements. Doing so can save you money through discounts from insurance companies and help you avoid expensive emergency bills.

Peace of Mind

Of course, no one would like their significant other to fall ill, nor would they want to have their properties to be damaged. However, knowing you have protection from unexpected expenses arising from these unwanted events is a good feeling. Having the right insurance plans will give you and your significant other the peace of mind that you will need to continue building a happy and healthy life together.


How do you make good insurance coverage decisions as a couple? 

Here are three things you should do as a couple before getting married:

1. Review the Insurance Policies You Already Have

Find all the policies you have as individuals and as employees. Make sure to review the coverage of each one. This way, you can discuss which policies you can already let go of and ones you can update to include your future spouse as a beneficiary. If you are moving into a new home, you will most likely need to terminate your old home insurance plans. Do not forget to make a newlywed-home inventory of your furnishings and other assets so your home policy will cover your combined belongings.

2. Update Your Information and Beneficiary Details

Once you have identified the old policies you want to keep, contact your insurance providers. They will need to update their records as well. You may need to supply information such as beneficiary details, updated identification cards (IDs), emergency contact information, etc.

3. Consider Consolidating Some of Your Policies with One Company

You can receive a consultation with an insurance agent to see which policies you can consolidate under one insurance provider. For example, having a multi-vehicle auto insurance policy as a couple may make more sense than paying two separate monthly premiums. Do not hesitate to check with various insurance providers to find the one that can provide you with the best value and coverage for your budget.

There is much to be excited about as you enter the next phase of your relationship. At the same time, there are also many things you need to prepare to ensure your transition from an engaged couple to a married one is as smooth as possible. This process includes ensuring you, your spouse, and your new life together is insured properly.

Have Health Insurance Questions?

We hope that this information on insurance for engaged couples is helpful for you.

Insurance is oftentimes overwhelming, and we want to shed light on the industry by answering your questions. Comment below and your question may be the topic of our next post!

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Empower Brokerage wants to help you find the insurance coverage you need and help you save money getting it.  Stay on top of your health and give us a call at (844) 410-1320.

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About Katie Pierce

Katie Pierce is a teacher-slash-writer who loves telling stories to an audience, whether it’s bored adults in front of a computer screen or a bunch of hyperactive 4-year-olds. Writing keeps her sane (most of the time) and allows her to enjoy some quiet time in the evening before she walks into a room of screaming kids (all of whom she loves dearly) the next morning.

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