Life insurance is great to have because it can give your loved ones money to live on in the event that you pass away. However, there can come a point in life when the insurance policy is useless to keep holding on to. For example, a lack of communication with the beneficiaries that were named in the plan can make it a financial burden rather than beneficial. There are actually numerous reasons why some people find it more beneficial to sell their life insurance policy.
Getting married often means pooling your financial resources with your spouse's in order to make major purchases. Combining income is a great way to increase your buying power, but it can also create financial hardship should one spouse die before major purchases are paid in full.
Life insurance policies are sound financial investments for new couples. There are a few different types of life insurance policies available to couples, so invest in the policy that meets the needs of you and your spouse.