Spouse term life insurance is a way to ensure that if something happens to either spouse, the other spouse will be okay financially. This type of insurance is simple and affordable. It doesn’t matter if one spouse or partner earns an income, both spouses contribute in other ways such as by providing services or helping out with the children.
If your spouse or partner dies, life insurance would give you the money to hire people to do the things they used to do every day. There are five different ways to get affordable life insurance for your spouse:
|Ways to Get Affordable Life Insurance for Your Spouse|
|A spouse employed full-time can get life insurance from their employer.|
|You can add your spouse to your life insurance policy for a discounted rate if you are an employee of a company.|
|You and your spouse can buy a policy from a private insurance company.|
|Some couples prefer to have their life insurance policies instead of getting life insurance through a spousal rider.|
|You can get a joint life insurance policy that covers two people.|
When shopping for insurance, talk to an agent about your needs and situation. This will help you get the best advice on which policy would be the best for you. Term life insurance is likely to be more affordable than permanent insurance. Permanent insurance usually has a higher monthly premium.
Buying a spouse’s life insurance is like buying life insurance. There are four important things you need to think about:
- You need to figure out how much life insurance coverage you need before you buy it.
- You need to think about what you need in case something happens.
- Remember, term insurance is temporary. You don’t get any money back when you’re done with it.
- Whole life insurance is more expensive than other types, but it lasts a lifetime.
Experienced professionals can help you find the best policy for you and your spouse. They will look at your individual needs and make a plan that fits you both. Contact us if you need help purchasing a life insurance policy. The service is free of charge.
- The Guardian Life Insurance Company of America. Spouse Term Life Insurance
- Investopedia. Term Life Insurance On Spouse And Children
- Forbes. Understanding Life Insurance For Spouses
- The Guardian Life Insurance Company of America. Joint Life Insurance For Married Couples
- Bankrate. Voluntary Term Life For Spouse/Partner And Dependents