When you get married, there’s an array of things that change for you and your spouse. You now address each other as husband and wife, you come home a little earlier from work to see your companion, and you spend time making plans for the future together. Additionally, maybe you have moved into your spouse’s apartment or home, or perhaps you are considering buying a new home together. No matter what your future plans look like, marriage will undoubtedly impact your finances. Below we have broken down five financial changes that newlyweds should be prepared for.

You are about to retire from a long career in your practice, your children are self-supporting and you have paid off your house. That leaves no reason to continue carrying a life insurance policy, right?

When you own a successful medical practice there are many people that have helped you grow it. Your amazing team, the ones your practice couldn’t survive without, have had a hand it your success.

According to the National Association of Insurance Commissioners, small businesses are extremely dependent on just a few key people for their success, and 71% say that they are “very dependent” on only one or two key people.

That’s why you should consider purchasing key person life and key person disability insurance for your practice.

The celebration of life – there is nothing more exciting than learning you and your partner are soon expecting a bundle of joy. There will be a whirlwind of tasks to complete before the arrival date, from preparing the new nursery and purchasing a variety of essentials to attending regular doctor visits and planning a shower. In the midst of all of these responsibilities, don’t forget to update your financial plan by bringing your current insurance policies up-to-date.

Life insurance – a touchy subject, but one that everyone should talk about at some point. Unfortunately, there are many myths when it comes to life insurance, which is probably why so many people skip coverage. In fact, according to LIMRA, only 70% of American families own some type of life insurance. Plus, it doesn’t help that thinking about life insurance also means that we have to think about our own mortality. A very unpleasant thought.

Life insurance is an important aspect of financial planning and something on the mind of many Texas physicians. While you may already be aware of why a life insurance policy is crucial to the protection of your family, you may be wondering which life insurance provider may best for your needs. With so many companies offering quality products with good benefits, it can be difficult choosing one over the other.