Getting Married in 2021

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Getting Married in 2021

Getting married is one of those special moments of life where people love to show off. Despite having financial conditions, every couple plans to have a royal wedding. They say, "this is once in a lifetime moment; it must be the royal one." and with this, many families and couples get gripped in the arms of debt. Unfortunately, American culture influences people to lose attention to the increasing debt when it comes to weddings. The growing world has increased many expectations and desires of every person related to a wedding, whether it's photography, food, dress, or venue. These desires and expectations push a person more towards debt and nothing else. Along with the grooming desires, there many a time, unexpected circumstances are seen, like the change of hearts before marriage, marriage cancellation, or postponement of the dates. So, to avoid losing money or getting into debt, taking wedding insurance will act as a life-saver.

Insurance Benefits in Wedding

 Insurance is like a life-saving jacket to protect yourself against all the unpredictable situations surrounding your wedding. Just like travel insurance, health insurance, or auto insurance, we get a variety of wedding insurance options. The main two types of insurance wedding couples or their families intend to buy are liability insurance and cancellation insurance. Liability insurance protects couples from paying fees for the damage to the venue by any of your guests or yourself. The cancellation insurance covers the lost deposits and payments for reasons like vendor bankruptcy or no-shows, accidental injury or illness of an immediate family member, or any unavoidable reasons for marriage postponement or cancellation. 

Like the reasons mentioned above, many more reasons make you agree that purchasing marriage insurance is always a good idea.

Royal West Agency Insurance Advisors is a Good Place to Reach for Insurance

After understanding the need to buy wedding insurance, purchasing the insurance can be as confusing as choosing the wedding dress. We have a team at Royal West Agency with expertise in insurance that will help you understand all the clauses and requirements of each type of insurance the market provides. The expert advisors will even help you choose the right insurance based on your wedding date and venue. Our advisors will deal with your doubts and get you the insurance at minimal rates from the market.

 

Frequently Asked Questions

  • Why do married couples need to buy life insurance?

    The purpose of life insurance is to provide a source of income for your family or whoever you choose as a beneficiary in case of your death. Therefore, married couples have more urgency to buy life insurance than their single counterparts. And, if you have a spouse, child, parent, or some other individual depending on your income, you probably need life insurance.

     

  • Is updating my will necessary after getting married?

    Will is that piece of document which needs to be updated from time to time, especially after important life events knowing marriage is an important life-changing event. If not updated, neither your spouse nor any other intended beneficiaries can get anything you intend upon your death.

     

  • What are the ways in which a married couple can hold property?

    Owning a property after marriage varies from state to state. But there are some of the common ways applied in all the states: 

    Joint Tenancy, with right of survivorship: In this type of ownership, equal rights are given to all the partners. And after death, the property passes to the joint owner. This process helps in avoiding any legate.

    Sole Tenancy: This process gives ownership to one individual. And after death, the property passes according to their will.

    Common Tenancy: This is the process where the property claims joint ownership without the right of survivorship. After death, the deceased share of the property passes according to their will.

    Entirety Tenancy: This process is similar to the Joint Tenancy, with the right of survivorship. But, this is only available for spouses and prevents one spouse from settling the property without the other's permission. In some states, it is referred to as community property, where married people own property, assets, and income jointly; there is equal ownership of property acquired during a marriage. 

     

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Information presented on this website is not intended as tax or legal advice. You are encouraged to seek tax or legal advice from a qualified professional.




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