A family’s finances can become complicated when one member of the family is out of work. One of the parties is then responsible for caring for the rest of the family. There are three scenarios that can cause this to occur.
The first aspect is the general unemployment state. This is the easiest part of the process because at least there is still the possibility that they will find employment regardless of how long it takes.
Second, it is a result of long-term illness or permanent disability. Even though there is still a possibility that they may return to work, these are definitely trying times for the party left behind to care for the other party.
Finally, if the other party passes away, this is the final scenario.
In all of the above situations, it is essential for couples, whether they are already married or intending to marry, to prepare in advance, just in case anything happens to them. Fortunately, all of these risks can be insured.
Do not wait for something bad to happen before taking action. Take action now before it is too late.
NB: I discussed this subject extensively in one of my books, Managing Family Finances for Career Couples, which is available on my store in eBook, paper back and hard cover versions.