As a young family, you will face many new challenges that you may or may not be prepared for along the way. So whether it’s children, a mortgage, or unexpected expenses, now is the opportune time to start thinking about all the potential pitfalls that may arise.

We want to share some of the ways that insurance can help you stay ahead of these issues, as well as how to prepare yourself for some of life’s obstacles that you and your family may face.

What Issues Should Concern you the most?

Now that you’re starting a family, your life is just one piece of the puzzle. Your spouse and any children are also top priorities, meaning that you should consider what could happen to everyone in various scenarios. Here are some crucial questions you and your partner should discuss:

What happens if one of us becomes disabled or critically ill? 

Disability or a critical illness can cripple a family unit almost as much as death. Not only do you have to worry about losing income because you or your spouse can’t work, but you will likely have mounting bills that will exacerbate the situation.

Even if one of you can still work, is the disabled spouse able to care for the children? Will their disability impact their ability to do simple tasks, like buying groceries, picking the children up from school or even changing diapers? If the worst should happen, you need to be ready.

What happens if one of us dies? 

While this question may seem a bit morbid, it’s a necessary possibility to plan for, mainly if you are a one-income household. Even with two breadwinners, chances are that your bills and financial responsibilities are too much for one person, meaning you need to supplement any lost income because of one of you passing away.