Let’s face it – the topic of insurance doesn’t generally captivate audiences. Although having adequate life insurance is important for most couples, unmarried couples should particularly consider how life insurance can help them address the concerns unmarried couples and a unique family may face. Because you’re not married, you’re ineligible for many of the benefits the government, employers and the tax code confer on married partners. For example, Social Security and defined benefits pension plans don’t replace income for your partner after your death, as they do for a spouse. Tax laws don’t shelter your estate, as they do for a married couple.

Is it all Doom & Gloom for the unmarried couple and unique family?

No, with the right strategies you may protect yourself and your family. One such tool is life insurance. Life insurance can provide a vehicle to address these concerns. It can replace income after the death of your partner, provide cash to pay potential estate taxes and provide funds that avoid probate.

Couples in homosexual relationships can get adequate life insurance today underwritten just like everyone else, based on health. It’s a little hard for a company to discriminate on one hand and support on the other.

A life insurance policy is the best way for same-sex couples to cross-insure each other and compensate for missing out on spousal death benefits. It’s also an opportunity to provide tax-free income to the surviving partner.

Generally, it is wise same-sex couple clients to have more life insurance than traditional couples to help compensate for some of the lost spousal benefits.

If you have any questions please do not hesitate to call us at 813-964-7100 or visit our website at www.MintcoFinancial.com