1300 041 494
Search Icon
MENU

The Key Tips For Talking To Your Partner About Life Insurance

Talking to your partner about life insurance is tough. It’s a delicate subject, and you might get emotional about it. We have prepared several tips to make the talk easier.

Talking about getting life insurance is among the hardest for modern couples. That’s why many put it off, or even avoid it altogether.

Life insurance can be a huge step toward financial security, and it could help your family survive hard times in the future. But talking about life insurance also means talking about death.

You and your partner will have to think about a situation where the other might pass away, which can be a difficult thought to confront.

As hard as it is, however, talking about this topic is vital. And it’s especially important for couples with kids.

So, how do you bring up the subject with your partner? When is the right time and how should you start the conversation? Will they be open to the idea, or will they take it too hard?

If you know that your partner isn’t crazy about the idea, it can make the conversation even more difficult. A rushed conversation and high emotions can do that, too.

With that, we’ve prepared some tips for you to make it easier for you to discuss a delicate topic.

The Tips

Life insurance can be a very smart decision, and discussing the details with your partner is essential. Here are the tips to apply when you decide to press forward.

Don’t Be Spontaneous

Spontaneity can be a beautiful thing. But there are times for it and bringing up the topic of life insurance with your partner isn’t one of them.

It’s one of life’s most significant decisions, especially for parents. And so, it merits a deliberate and rational approach.

Of course, the talk isn’t going to be easy and you may not want to push too hard. If your partner is unwilling, try another time.

It’s better to be persistent about having this talk than to end up in financial hardship should you lose your partner. Or, if they lose you.

Do Your Homework Beforehand

It’s hard to contemplate the death of a loved one, but it’s necessary if you want to prepare for the future. If your partner doesn’t care for life insurance, you could consider first exploring the idea on your own.

Get on the internet and do your research. Visit the sites of prominent insurance companies in Australia and have a look. You don’t have to pick out the type of life insurance right away. But you can have an idea of what would be most suitable by obtaining some general information about life insurance.

Also, look up real-life stories of how families would have been in financial trouble if not for life insurance settlements. These can further solidify your case when the time arrives.

Don’t Place the Burden of Responsibility on Your Partner

Life insurance is not a subject that you and your partner should avoid. That said, you wouldn’t want to burden them with the responsibility either. You can be the one to break the ice.

If your partner is reluctant to talk about it, it doesn’t mean that you should just wait. Look for the opportunity to bring it up. Preferably when the two of you are alone and in a relaxed state of mind.

Calmly Explain Your Reasons

It’s no secret that life insurance can help the survivors get through hard times. It is often a source of financial support after the death of one of you. And you can also have enough cover to put your kids through college or university with it, depending on how much cover is in place.

Honesty is the best policy when you inform your partner about your reasons. People get life insurance for many reasons, and you also have your own.

With calmness, explain to your partner why it’s critical to talk about life insurance. Lay out your reasons, starting with the most pressing. And communicate your concerns if any.

Set Aside Plenty of Time

It might be alright to discuss dinner when commuting to work or shopping, but not having a talk about life insurance. To begin with, you don’t want your partner to feel rushed. You also want to have enough time to explain your position.

Life insurance can be a complicated subject that makes for a stressful talk. That’s why you could have the talk at home or somewhere that both of you can relax and concentrate. Also, you may need several uninterrupted hours for it.

Or, you could even plan ahead. Talk to your partner and set a date and time for the talk.

Don’t Be Afraid to Be Emotional (But Don’t Make Decisions in That State)

Talking about death and what awaits the survivors is never easy. That is why you could accept that both you and your partner might get emotional. You probably will, and that’s alright.

There’s no need to suppress your feelings, but that doesn’t mean you should let them take over. Don’t make any emotional decisions that you and your partner might regret later.

Talk About It Several Times (If Needed)

It’s understandable if you can’t finish the talk in one sitting. Your partner might be unwilling to delve deeper, or they might be flat out against it.

If that’s the case, don’t push too hard. Give your partner some breathing room and time to think it over. Rushing things can only make it harder for you and your partner to have a balanced discussion.

Instead, wait for the next opportunity to bring it up again. The key here is to be persistent, but give your partner enough time to properly consider the idea.

Don’t let things drag out for too long, though. There are many benefits to getting life insurance sooner.

See a Professional

Many people feel they can do their own research (which might include obtaining general information from a direct life insurer such as NobleOak), and consider their own needs and circumstances in order to make a decision about life insurance. Others may feel the need for personal advice – that’s when you might want to consult an insurance professional.

Insurance agents talk to people about the benefits of life insurance every day. And they know how to explain it best to your partner. If one or both of you have any questions about the premiums and fees, the agent can break them down for you.

They can further explain the pros and cons of each type of insurance. With that, they can help you arrive at a plan that suits best.

Talk About Money

People tend to think of life insurance as expensive. It’s also a common reason for avoiding it.

But life insurance policies don’t have to cost an arm and a leg, and they often don’t. The cost of life insurance cover will vary based on factors such as your age or the sum insured.

Consider getting a preliminary quote. It’s the best way to show your partner that you can afford the policy.

Company Insurance May Be Insufficient

Having group insurance through an employer is better than no insurance. It is usually cost-effective, but the coverage may be unimpressive. Also, it will typically expire once your employment with the employer ceases.

That’s why some Australians choose to switch from group cover through an employer, to individual life insurance.

Life Insurance Talk Made Easier

Any talk of getting life insurance is never easy, despite its necessity. But with the tips from this article, you can make the talk less stressful.

So after having done your research, pick the right time and place to talk. And when you do, speak in a calm voice. Be persistent but gentle. Give your partner time if needed, but don’t give up. Remember, emotions are okay but you may not want them to be the driving force of the conversation.

It is also important to talk about the cost of the insurance policy and the recurring payments. That’s because often people overestimate the cost of insurance, and it’s important to clarify matters. It can be more affordable and flexible than you or your partner thinks.

With that said…

To insure or not to insure?

That is a question that only you can answer. You may choose to get some professional advice, or to carefully consider your own needs and circumstances and deal directly with a Life Insurer like NobleOak who can provide you with general advice and product information.

This is general information only and does not take into consideration your individual circumstances, objectives, financial situation, or needs.

Click here for a Quote.

 

Resources:

https://www.nobleoak.com.au/

https://www.nerdwallet.com/blog/insurance/life/tips-talking-spouse-about-buying-life-insurance/

https://www.quickquote.com/blog/how-to-talk-about-life-insurance-with-someone-who-doesnt-want-to-discuss-it/

https://webcache.googleusercontent.com/search?q=cache:WrtNbN_G2qEJ:https://www.protective.com/learning-center/why-get-life-insurance/have-the-talk-with-your-spouse-about-life-insurance/+&cd=1&hl=en&ct=clnk&gl=rs (the cached version of the page; the standard one was unavailable at the time of writing)

https://andersoninsgroup.com/5-tips-for-talking-to-your-spouse-about-life-insurance/