Key Takeaways:

  1. Marriage, starting a family, joint homeownership, and entrepreneurship are key life events in 2024 that warrant consideration of life insurance to safeguard your loved ones and investments.
  2. Term life insurance can be an affordable and tailored solution to provide financial support during critical life transitions and ensure financial stability for your dependents or business partners.


Life insurance serves as a financial safety net, providing support and protection to your loved ones during challenging times. As we embark on a new year filled with potential life-changing events, it’s essential to assess whether you need life insurance in 2024. Here are four significant life events that may warrant the purchase of life insurance.

1. Saying “I Do” in 2024

If your plans for 2024 include wedding bells and a lifelong commitment, congratulations on this exciting journey! Marriage signifies the merging of lives, including finances and shared responsibilities. To ensure both you and your spouse are financially secure in the event of an unforeseen tragedy, consider discussing and obtaining life insurance policies.

Life insurance can provide peace of mind, especially if one partner earns significantly more than the other or if you have substantial joint financial obligations. By securing life insurance, you ensure that your spouse won’t face financial hardships if the unexpected occurs.

2. Welcoming a New Member to the Family

If 2024 brings the joyous news of a new addition to your family, such as a baby, life insurance becomes even more critical. Parenthood comes with increased financial responsibilities, including childcare, education, and overall well-being. To safeguard your child’s future, consider purchasing term life insurance.

Term life insurance can be tailored to cover you during the years when your child depends on you financially, providing a financial safety net until they become self-supporting adults. Even if you’re a stay-at-home parent, your contributions to the family’s well-being are invaluable, and life insurance ensures that your family can manage without your support.

3. Buying a Home Together

2024 might be the year you and a partner or friend decide to take the plunge into homeownership. Sharing the financial commitment of a home purchase is a significant step, and it’s crucial to protect this investment. Life insurance can provide that protection.

In the event of your passing, a life insurance payout can help your co-owner pay off the mortgage, ensuring they can continue living in the home without the financial burden. It’s a smart move to consider life insurance when buying a home with someone else, safeguarding both your investment and their future.

4. Entrepreneurship in 2024

Starting a small business is a bold endeavor with the potential to reshape your life. Amidst the excitement of business planning and seeking funding, don’t overlook the importance of life insurance. If you’re launching a business with a partner, life insurance can play a pivotal role in ensuring the continuity of your venture.

In the unfortunate event of your passing, a life insurance payout can offer financial support to your business partner and stakeholders, allowing the business to continue without disruptions. It can also facilitate the smooth transfer of your share of the business to your partner, preserving the company’s stability.


Life insurance isn’t a one-size-fits-all solution, but these four scenarios in 2024 illustrate when it’s essential to consider obtaining a policy. Take the time to explore your options and discover how affordable term life insurance can be. By securing life insurance, you not only protect your loved ones financially but also gift yourself the priceless peace of mind that comes with knowing you’ve planned for the unexpected.

Contact Information:
Email: [email protected]
Phone: 9568933225

Rick Viader is a Federal Retirement Consultant that uses proven strategies to help federal employees achieve their financial goals and make sure they receive all the benefits they worked so hard to achieve.

In helping federal employees, Rick has seen the need to offer retirement plan coaching where Human Resources departments either could not or were not able to assist. For almost 14 years, Rick has specialized in using federal government benefits and retirement systems to maximize retirement incomes.

His goals are to guide federal employees to achieve their financial goals while maximizing their retirement incomes.

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About Rick
Rick Viader
Retirement Specialist Andrik Financial