Congratulations on your engagement!
What do I do now that I am engaged?
- Insure your engagement ring
- Plan your wedding ceremony and reception
- Search the web for sites that help you plan your wedding. Ask people you know who were recently married how they planned their wedding.
- Purchase Wedding Insurance – Most people don’t know you can insure a wedding. Check with Spencer Insurance Agency to get this valuable coverage for under $300. Reasons to insure your wedding. . .
- Protects you from losing your deposit should the venue for your wedding go bankrupt.
- Protects you from losing your deposits should you not have the wedding due to sickness, weather and other factors. Sorry, no coverage for “Cold Feet.”
- Protect your wedding gifts from theft the day of the wedding.
- Consider other reasons, the photographer goes bankrupt, your wedding dress is not delivered on time.
- Review your finances with your future spouse and a financial planner
- Discuss how you will handle your finances once you are married.
- Discuss your current assets with each other and decide how to protect them.
- Be aware of what you will need to do after your wedding day.
- Spencer Insurance Agency works with many financial planners and can recommend one if necessary. We are not CPAs or lawyers and do not provide legal advice. We suggest you consult your accountant, financial planner, lawyer and other professionals as you take this big step.
What do I need to do after I get married?
- If you are changing your name. . .
- Check your documents and change your name on:
- Social Security Card – You will need to do this first so you can change your name on other identification.
- Driver’s License
- Other Identification
- Notify your employer
- Change your Federal withholding status if necessary
- Review your Group Health Coverage
- Tell your creditors, utilities and other vendors of your name change
- Discuss your name change with your doctor and see what needs to be done to have your spouse pick up a referral or prescription for you. You may need to sign a form.
- Update your benefits and beneficiaries
- Review all your life polices, group and individual
- Check the beneficiaries listed on your retirement accounts
- Since marriage is a life changing event, you may be able to make changes to your group benefits. Check with your HR department or employer.
- Review your insurance policies to make sure you are getting all the discounts you are entitled to receive
- Auto Insurance – Review your coverages and consider combining your policies to get the most discounts. Make sure both spouses are listed as drivers on each policy if you do not combine them.
- Homeowner’s Insurance – This can be complicated especially if you are merging two residences into one. Make sure all your contents, collectibles and valuables are covered by the policy you are keeping before you cancel the other insurance policy.
- Consider an Umbrella Insurance Policy
- Consider purchasing Life Insurance
- Read Rachel’s Story
- Check out our Free Report: Spencer Tips on “What You Need to Know About Life Insurance. . . How to Make Sure The People You Intended To Get Your Life Insurance Benefits Actually Get the Benefits.”
- If either spouse has children from a previous marriage, consult an attorney to update your will and Life Insurance.
- Consider Disability Income Insurance if you rely on both spouse’s incomes to meet your expenses.
Call Spencer Insurance Agency at 215-885-2200 for a no obligation Insurance Review. Make sure you have all your bases covered now that you are married.