Marriage & Partnerships

You're joining your lives. Think about how you'll join your savings and insurance, too.

Congratulations! You're getting married or starting a life together with your partner. So many decisions to make - where will we live? Who sleeps on the left? Whose name should be on the gas bill? While you're caught up in the joy of setting up your new household, be sure to set aside some time to talk about your finances. Discuss what kind of life insurance, supplemental health insurance and savings you'll need to build a secure financial future together.

Taking care of each other - now and forever.

Even if you don't have children, it's still important to have insurance and savings in place. You want to know that your spouse or partner could pay the bills and stay in your home if something happened to you. Meet people who are starting their new lives and planning a future together.

 
Newlyweds Older Couple Partnership
  • Ben and Whitney

    Newlyweds

    Age: 25, 27

    Yearly household income: $65,000

    Keeping retirement in mind Whitney and Ben want to live the best life they possibly can together - now and forever. They've seen their own parents struggle to afford daily expenses after retirement and don't want to repeat their mistakes. So they're planning for retirement now and maxing out their 401(k) contributions while taking full advantage of their employer's 401(k) match program. They know the money they put away now has the most potential for growth so they can retire comfortably together.

    Preparing for the future Having had to think only about themselves up until now, Whitney and Ben never considered life insurance. But they've vowed to take care of each other forever and know grieving is tough enough without falling into debt or losing the home where they will create their memories. To plan for the unexpected as best they can, they purchased a term life insurance policy. The payments fit their budget and the coverage will help the survivor pay expenses for things like their house and car if one of them were to pass away.

    Saving for the near future Ben and Whitney have always wanted to go to Scotland, where Ben's family is from. They've decided to start saving now so they can go for their 10th anniversary. They researched their savings options and found investing in mutual funds is a good fit for them. Their money has better growth potential over the 10-year period, and they can manage the level of risk while a professional manages the actual investments. Plus, if they need the money for an emergency, they can withdraw it to cover expenses.

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  • Brad and Pam

    Remarried with a blended family

    Age: 55, 49

    Yearly household income: $90,000

    Saving for a college education It's expensive to send five children to college, and that's why Pam and Brad have already started saving. They've opened up five 529 college savings plans - one for each of their children. They can add to the plans anytime, use the money for colleges in most states and enjoy tax advantages. Plus, their extended families and friends can easily contribute to any or all of the plans.

    Preparing for the future Pam and Brad know that with five children, daily expenses demand their combined income and simply wouldn't be feasible if one were to pass away. So they re-evaluated their term life insurance plans and increased the benefit amounts. The higher payouts would supplement the remaining income to help cover day-to-day expenses, pay off the house or continue their college plans. The monthly payments to increase their financial protection are a little more, but still affordable in their budget.

    Saving for the near future If there's one thing any recently married couple knows, it's that weddings are expensive. With three girls, they've started saving by investing in mutual funds. They like how easy it is to open an account and how they can convert the funds into cash at any time without penalties. They understand there will still be taxes and some fees to consider, but the growth potential is much higher than with a savings account at their local bank. Now Pam and Brad can look forward to being parents of the bride again and again and again.

    1 2 3
  • Kyle and Perry

    Partners

    Age: 39, 43

    Yearly household income: $75,000

    Keeping retirement in mind Kyle and Perry's dream is to move to the country for retirement. Knowing that means they'll continue to have a mortgage payment after they retire, they need a way to make sure they'll have extra income. They are researching annuity options to find one with an acceptable level of risk, growth potential and payout schedule that can help turn their dream into reality.

    Preparing for the future Kyle and Perry want to be with each other forever. But in the event one of them passes, they would like to take care of each other financially, too. They want to be in control of where their money goes, so they've purchased two variable universal life insurance policies naming each other as the beneficiary. It offers potential lifetime protection, they choose and manage the investments in the policy, and they can even borrow (which reduces the death benefit) against the cash value while they are together to enjoy it.

    1 2

Here are some things to consider in this stage of your life.

Entering a marriage or partnership together means joining yourselves financially, too. By learning about your options, you can create a plan and help to secure your financial future.

  • Contribute to savings with mutual funds
  • Protect family with life insurance
  • What's your game plan for your savings goals?

    A car. Your first home. Your child's college education. Whether it's a purchase in the short term or a dream many years down the road, today is always the right time to start saving. Is your savings strategy on the right path?

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  • Planning for the big things in life sometimes necessitates higher returns than what a traditional savings account can provide. If you're willing to take on some risk to grow your savings, mutual funds can help put your goals within reach.

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  • Why choose a mutual fund

    1. 1. Gives you the confidence of knowing that your investments are being professionally managed.
    2. 2. Offers a convenient and low cost way to invest in the market.
    3. 3. Provides options for short or long-term savings goals based on your time horizon and risk tolerance.

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  • Mutual funds can be a good investment if you're looking for a savings tool that matches your risk level and time horizon.

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  • What will happen to your family if something happens to you?

    You work hard to keep them safe and provide a home where memories are created. Yet the unthinkable could happen and your family could face life without you. Find out how you can make sure they'll be taken care of.

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  • Life insurance can't replace you, but it can help cover expenses left behind

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  • Protect your loved ones with life insurance

    1. 1. Determine how much financial coverage is needed to support your family.
    2. 2. Decide the length of time you want your family protected.
    3. 3. Consider what you can afford in monthly premiums to fund your policy.

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  • Small steps today can provide big help tomorrow

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Things To Think About

When to Adjust Your Life Insurance Policy
A good rule of thumb is to recalculate your life insurance needs once a year, or more often if there's a major change in your life. Consider raising or lowering your coverage when you get married or divorced.
What financial documents are critical to help protect my family?
Don't wait until an emergency happens to start getting your affairs in order. Start with these key documents:

1. Will. If you have children, a will is an absolute must. If you and your spouse were both to pass away, this is the document that will say who you want to become their legal guardians. A lawyer can help you draw up your will. Once you have the will, take a look at it every few years and update it whenever there's a significant change in your life, like marriage or divorce, a new child or a change in your preferences.

2. Living Will. A living will can clearly explain to hospital staff what sort of medical treatment you want if you're terminally ill or can't communicate on your own. Say you had a life-threatening health problem and were rushed to the hospital. They may provide you with a form like this to fill out, but if you were unconscious you wouldn't be able to. It's really important to have this document ahead of time.

3. Durable Power of Attorney. This document makes the person named in it your "attorney-in-fact" and gives them permission to make specific legal and financial decisions in your place. Just like with a will, this is an incredibly important document.

4. Emergency Information Sheet. If something happens unexpectedly, this will give the information someone needs to contact your family, find your other key documents, and take care of the things that need to be taken care of. Include names, phone numbers, and addresses of your doctor and your hospital. Label the information sheets clearly.

You should carefully consider the investment objectives, risks, charges and expenses of 529 college savings plans before purchasing or investing money. Additional information about these and other subjects can be found in the Plan Description. You may obtain copies of the Plan Description from your Allstate Personal Financial Representative. Please read the Plan Description carefully before purchasing or sending money.

Investors should consider whether the investor's or designated beneficiary's home state offers any state tax or other benefits that are only available with an investment in the home state's plan.

Non-qualified withdrawals will be subject to taxation, including a possible tax penalty.

Securities offered by Personal Financial Representatives through Allstate Financial Services, LLC (LSA Securities in LA and PA). Registered Broker-Dealer. Member FINRA, SIPC. Main Office: 2920 South 84th Street, Lincoln, NE 68506. (877) 525-5727.

Life insurance issued by Allstate Life Insurance Company, Home Office, Northbrook, IL; Lincoln Benefits Life Insurance Company, Lincoln, NE. In New York, Allstate Life Insurance Company of New York, Hauppauge, NY.

Please note that Allstate Life Insurance Company or its agents and representatives cannot give legal or tax advice. The brief discussion of taxes on this page may not be complete or current. The laws and regulations are complex and subject to change. For complete details consult your attorney or tax advisor.

Distributions taken prior to annuitization are generally considered to come from the gain in the contact first. If the contract is tax-qualified, generally withdrawals are treated as distributions of gain. Withdrawals of gain are taxed as ordinary income and, if taken prior to age 59 1/2, may be subject to an additional 10% federal tax penalty.

Any annuity payment is dependent on the ability of the issuer to pay its claims. An annuity may impose charges (including but not limited to surrender charges, mortality and expense risk charges, administrative fees, underlying fund expenses and feature charges) that can reduce the value of your account and the return on your investment.

You should carefully consider the investment objectives, risks, charges and expenses of mutual funds before purchasing shares or investing money. Additional information about these and other subjects can be found in the mutual fund prospectus. To obtain a prospectus, please contact your Allstate Personal Financial Representative. Please read the prospectus carefully before purchasing shares or sending money.

Variable universal life products are long-term investments designed to provide life insurance protection and flexibility in connection with premium payments and death benefits. You should carefully consider the investment objectives, risks, charges, and expenses of the investment alternatives before purchasing a policy. These policies have limitations and are sold by prospectus only. The prospectus contains details on the investment alternatives, policy features, the underlying portfolios, fees, charges, expenses, and other pertinent information. To obtain a prospectus or a copy of the underlying portfolio prospectuses, please contact Lincoln Benefit Life Company or go to accessallstate.com. Please read the prospectuses carefully before purchasing a policy.

Variable annuities are long-term investments designed for retirement purposes. You should carefully consider the investment objectives, risks, charges and expenses of the investment options before purchasing a contract or investing money. These contracts have limitations and are sold by prospectus only. The prospectus contains important information about the annuity contract, including fees and charges, investment options, death benefits, and annuity payout options. Optional income riders carry additional costs and may have limitations or restrictions. To obtain a prospectus or the underlying portfolio prospectuses, please contact your Allstate Personal Financial Representative. Please read the product prospectuses carefully before purchasing a contract or sending money. Guarantees offered are subject to the claims-paying ability of the issuing company.

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