Marriage | Deployment | Promotion | Home Purchase | Children | Transition | Retirement  What New Life Insurance Needs Exist After Marriage? You made the plunge, congratulations! Now you have someone who depends on you. Time to update you life insurance and don’t forget to update your service record too. Learn what else you need to remember to do now. On This Page Review Your Financial Plan Newly Married Checklist Why You Need Life Insurance Which Life Insurance is Right for You? How We Can Help Review Your Financial Plan This is a big step and you do have a little follow-up to do to make sure things run smoothly.  Most couples want to just enjoy their time together and forget about the steps they need to take to make sure that each partner is listed part of the overall financial plan. Talk about your family finances.  Who is going to run the family budget and pay the bills? Discuss the unthinkable – Right now the idea of anyone dying is unthinkable, but a little planning from you both will provide the peace of mind you want to make sure their needs are taken care of – just in case.      Find out how much insurance is right for you now. Newly Married Checklist Enroll your partner in the Tricare health and Dental plans or add them to your company plan Add spouse’s possessions to your renter’s or homeowner’s insurance policy. Discuss your family finances -  will you have joint bank accounts or keep them separate. Change the beneficiaries on your insurance plans, annuities and other investment accounts. Life Insurance benefits are not governed by a will. Be sure you’re the beneficiary listed on your policy is really the one you want to have receive the benefits. Update your life insurance to make sure both partners are taken care of, just in case.  Review your will.  It’s probably time to update it to recognize your spouse. Active Duty Members: Your branch of service needs to know when you get married or divorced. This is how they know who is eligible for benefits and who to contact in case of emergency.  Update your record of emergency data with your branch of service – add your new spouse to the next of kin list. Sign up in the Defense Eligibility Enrollment Reporting System (DEERS). Update your SGLI beneficiary. Most military members enter the service single and list a parent of sibling as their SGLI beneficiary. You must update this in order for your new spouse to receive the benefit. Printable checklist Why You Need Life Insurance Someone else depends on your income Protect your loved ones from the financial consequences of your death Consider the needs of both partners should something happen to either one of you Life Insurance is designed to protect the financial security of your loved ones when you pass away. It is there to make up the difference between what your family needs and what they have available. If no one is dependent on you financially – then you may not need life insurance. Which Insurance is Right For You?  Term Life Insurance Low cost protection for a fixed period of time Premiums guaranteed never to increase Best Choice: for those looking for the highest amount of life insurance possible while keeping premiums very low. Get more Information Permanent Life Insurance Guaranteed lifetime protection Tax-deferred cash value growth  Best Choice: for you to protect both yourself and your family for your entire life while accumulating cash value. Get more Information Active Duty Military Members You need life insurance with no military restrictions No aviation clauses No terrorism clauses No war clauses No location restrictions Best Choice: an insurance plan that will stay with you regardless of where you are or what you do. Get more Information    Life Insurance Basic Facts Learn the basics on the different types of life insurance and which one is right for you - right now.   How We Can Help Insurance plans with Navy Mutual do not carry any military service restrictions: no war clauses, no terrorism clauses, nothing.  Unlike many of our competitors, Navy Mutual always allows you to purchase the maximum amount of insurance we can offer – you are not limited just because you are going to a high risk area.   Dedicated membership representative to help you determine exactly what your family needs now Military benefits specialists that take into account any military benefits that might apply to you already  Counseling and military benefits claims assistance for your survivors No sales fees, commissions and loads on any products or services keep your cost low How Navy Mutual Serves the Military See how affordable quality life insurance can be! “I want to thank Navy Mutual Aid Association and especially those in the Service Claims department for their understanding and help. Over the years, my husband said to me so many times, ‘What is the first thing you do when I die?’  And I’d say, ‘You tell me to call Navy Mutual Aid.’ And this is about all I was able to do.” Mary Ryan – Beneficiary

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