Suze Orman

Next, there are many pensions where you know your spouse is going to get a pension, but they haven't signed up for the pension yet.

And they die before they sign up for it.

There are corporations and places that one can work that if you don't sign up for it and you die before that, out of luck.

Uh-huh.

You got to know these things.

Yeah.

Usually they ask you to sign up at 55 or 60, right in there somewhere, just depends.

That's right, if you didn't sign up.

No, not if those are the rules.

That's why you have to know how does it work.

And if you can't sign up for a pension yet...

That's when you have term life insurance to cover yourself in case that were to happen.

Also, believe it or not, there are times when if it's less than a 50% joint and survivor option, the spouse has to sign off.

And a lot of times the spouse doesn't listen and they just say, whatever.

And you should always check what happens in case of a divorce, because sometimes that can change.

So there's so many things that can happen.

But the main reason is normally they've chosen a life only option

which if they are married, is the absolute biggest mistake that they can ever make in their lives unless their spouse is seriously ill.

All right, KT, next.

And the spouse signed off on it.