Top Life Insurance Provider for Newlyweds [2024]
Life insurance for newlyweds is typically easy to find, and newlyweds have a lot of options when it comes to life insurance policies. Many people choose term life insurance for newlyweds as it is often cheaper and it offers more flexibility for each spouse.
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Michael Leotta
Insurance Operations Specialist
Michael earned a degree in Business Management with an insurance focus, which led to a successful 25-year career in insurance claims operations and support. He possesses a high-level of business acumen across multiple areas of the insurance industry. Over the course of his career, he served in multiple roles supporting claims operations including: Claims Specialist, Claims Trainer, Claim Automatio...
Insurance Operations Specialist
UPDATED: Jan 11, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Jan 11, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Life insurance could help you avoid financial burdens if one of you passes away unexpectedly
- Life insurance rates for newlyweds will probably be less expensive if you get married at a young age
- A term life insurance policy for newlyweds may be a great choice since policies are cheaper and easier to purchase than permanent policies
If you’ve recently gotten married — or if you will be married in the near future — you may find it a bit daunting to shop for life insurance as newlyweds. There are many different types of insurance available, but some life insurance policies and life insurance companies may work better for you as a newly-married individual than others.
You’ll want to be sure you understand the different types of life insurance policies out there in order to make an informed decision when it comes to life insurance coverage. Are you looking for term life insurance for married couples? Would a whole life policy work best? These are questions to consider as you begin your search for life insurance for newlyweds.
As you do your research to find the best life insurance for married couples, be sure to compare life insurance quotes from plenty of different companies. This will help you make sure you do not end up paying too much for coverage.
You can use our free quote tool above to get started in your search today as you compare life insurance quotes from top companies in your area.
What is the best life insurance for newlyweds?
Many newlyweds shopping for life insurance can become overwhelmed by the available options when it comes to the different life insurance types, companies, and policies out there. The truth is, what you will need as a newly married couple may be different from your friends and relatives. The policy that will work best for you will be specific to your needs and the needs of your spouse.
Your life insurance policy will also take into account your future plans. If you are planning to purchase a home or start a family, your life insurance policy should be one that will protect you financially if one of you passes away unexpectedly.
Typically, newlywed couples are intrigued by term life insurance policies. Purchasing separate term life policies is an extremely affordable option for young couples. This gives both spouses a lot of flexibility to customize their own coverages, which could also help if they get divorced in the future.
Joint life insurance policies are another option for newlyweds, but a joint life insurance policy will often cost a good bit more than individual term life insurance policies. Where a term life policy protects each spouse for a certain amount of time — typically anywhere from 10 to 30 years — a joint life insurance policy is often a permanent life insurance policy that will last a lifetime.
Some joint policies are also set up so that they only payout after both spouses die. This is obviously a downside to a life insurance policy for newlyweds as neither spouse would benefit directly from a policy’s payout in terms of a death benefit.
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Should we get first-to-die life insurance as newlyweds?
First-to-die life insurance is a specific joint policy option for newlyweds. This type of joint policy exists to protect one spouse if the other happens to die unexpectedly. With a first-to-die policy, the surviving spouse will receive the death benefit of the policy. The major drawback to this type of policy is that there will likely be no death benefit for any heirs or other beneficiaries.
If you are interested in making sure your spouse will be protected in the event of your death, you may want to consider a term life insurance policy that names your spouse as one of the beneficiaries — if not the sole beneficiary — of your policy. This may make you comfortable enough that you do not need to purchase a joint policy, which would allow both spouses to maintain flexibility within their own life insurance policies.
Other types of permanent life insurance, such as whole, universal, and variable life insurance, are also options for newlyweds. Like a joint policy, these life insurance options will cost a good bit more than a term policy, but they will offer more protection over time where term policies eventually run out.
If you already have life insurance, you may consider a spousal rider for your life insurance policy. A spousal rider is an add-on that will offer your spouse coverage if you pass away. This type of rider is especially helpful if your spouse cannot qualify for his or her own life insurance policy. Often, spousal riders have death benefit restrictions that don’t usually apply to other life insurance policies.
What’s the average cost of life insurance for a married couple?
How much you will pay for life insurance as a newlywed will depend on a number of factors, including:
- Your age
- Your gender
- Your health status
- Your credit score
- Your occupation
- Your lifestyle
- Your tobacco use
As stated previously, most term life insurance policies are less expensive than whole life insurance policies. The table below shows the average monthly rates with different companies for a 10-year, $100,000 term life policy for non-smokers based on a person’s age and gender.
Average Monthly Term Life Insurance Rates for Non-Smokers by Age – $100,000 / 10-Year Term
| Non-Smoker Age & Gender | Prudential | Lincoln National | MassMutual | Aegon/ Transamerica | John Hancock | State Farm | Minnesota Life |
|---|---|---|---|---|---|---|---|
| 25-Year-Old Female | $12.25 | $9.46 | $8.36 | $9.89 | $8.78 | $12.44 | $7.04 |
| 25-Year-Old Male | $13.83 | $9.46 | $9.23 | $11.27 | $9.64 | $14.27 | $7.37 |
| 30-Year-Old Female | $12.25 | $9.46 | $8.53 | $9.72 | $8.78 | $13.14 | $7.04 |
| 30-Year-Old Male | $13.92 | $9.46 | $9.23 | $10.06 | $9.64 | $14.70 | $7.37 |
| 35-Year-Old Female | $12.25 | $9.56 | $8.88 | $10.66 | $8.78 | $14.44 | $7.15 |
| 35-Year-Old Male | $13.92 | $9.56 | $9.31 | $11.09 | $9.64 | $15.23 | $7.48 |
| 40-Year-Old Female | $13.30 | $9.94 | $10.10 | $12.47 | $9.45 | $15.49 | $8.14 |
| 40-Year-Old Male | $15.67 | $10.61 | $10.53 | $13.33 | $10.63 | $16.36 | $8.25 |
| 45-Year-Old Female | $16.28 | $12.69 | $11.58 | $14.02 | $11.54 | $20.71 | $10.01 |
| 45-Year-Old Male | $17.68 | $14.53 | $12.97 | $15.65 | $13.10 | $20.79 | $11.00 |
| 50-Year-Old Female | $21.27 | $15.95 | $14.62 | $17.46 | $14.80 | $23.49 | $12.65 |
| 50-Year-Old Male | $21.88 | $20.74 | $16.97 | $20.21 | $15.81 | $26.54 | $14.74 |
| 55-Year-Old Female | $23.80 | $21.50 | $20.28 | $25.89 | $19.58 | $29.67 | N/A |
| 55-Year-Old Male | $28.18 | $27.66 | $24.10 | $30.10 | $22.44 | $34.45 | N/A |
| 60-Year-Old Female | $29.49 | $29.84 | $28.19 | $36.98 | $27.30 | $40.98 | N/A |
| 60-Year-Old Male | $37.72 | $39.03 | $35.50 | $42.66 | $35.15 | $51.50 | N/A |
| 65-Year-Old Female | $41.13 | N/A | $42.64 | $59.94 | $37.74 | $59.51 | N/A |
| 65-Year-Old Male | $58.45 | N/A | $61.68 | $71.29 | $55.74 | $83.09 | N/A |
The table above shows that term life insurance rates are typically higher for men than for women, and they also increase over time. It is important to note, too, that life insurance rates vary from one company to the next. This is why it is so important to shop around for a life insurance policy before you make a final decision on your life insurance coverage.
If you are choosing a whole life insurance policy rather than a term life policy, you’ll want to take into account that monthly rates could be substantially more expensive. This is especially true if you are in your 50s or older when you get married.
Read more: Joint Life Insurance for Married Couples: Should you get it?
How can I find newlywed life insurance?
Just like when you purchase a home, when you’re shopping for a life insurance policy as a newlywed, it’s very important that you shop around. You want to compare policies from several different companies. This will help you see what different policy types are available, and it will also help you assess different life insurance rates.
As a newlywed, you should not get stuck paying high rates for your life insurance coverage. Instead, you can take your time and shop around until you find a policy that works best for you. Be sure to call individual companies that you’re interested in and see if you qualify for any life insurance discounts that could make your monthly rates even cheaper.
You can use our free quote tool below to find and compare newlywed life insurance rates from some of the best companies in your area today.
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Case Studies: Top Life Insurance Provider for Newlyweds
Case Study 1: John and Sarah’s Financial Security
John and Sarah recently tied the knot and were looking to secure their financial future. They decided to explore life insurance options and sought out the top life insurance provider for newlyweds. After careful research and consideration, they chose Company A.
This decision provided them with peace of mind, knowing that their loved ones would be financially protected in case of an unfortunate event.
Case Study 2: Mark and Emily’s Growing Family
Mark and Emily, a young couple expecting their first child, recognized the importance of life insurance. They conducted extensive research to find the most suitable life insurance provider for newlyweds.
Ultimately, they opted for Company B due to its comprehensive coverage options and competitive rates. This choice allowed them to prioritize the security of their growing family.
Case Study 3: David and Lisa’s Future Planning
David and Lisa, a couple in their early thirties, were forward-thinking about their future. They understood the need of life insurance and looked out the best supplier for newlyweds.
Proactive newlyweds, David and Lisa, secured their future with exceptional and flexible life insurance from Company C. This choice allowed them to lay a solid financial basis for their long-term objectives.
Case Study 4: Michael and Jennifer’s Estate Planning
Michael and Jennifer, a couple in their forties, were focused on estate planning and protecting their assets. They researched the leading life insurance providers catering to newlyweds and decided on Company D. David and Lisa chose Company D for estate planning expertise and customized coverage, ensuring a secure estate and provision for loved ones.
Case Study 5: James and Megan’s Mortgage Protection
James and Megan, a couple who just bought their first home, Knew the value of safeguarding their mortgage against the unknown. They searched for the best insurance for newlyweds in this situation, And selected Company E, confident their loved ones’ home would have protection.
Case Study 6: Ryan and Jessica’s Retirement Planning
Ryan and Jessica, nearing their retirement, understood the importance of life insurance in their retirement strategy. They explored various life insurance providers catering to newlyweds and settled on Company F. Its retirement-centric policies and choices perfectly matched their future objectives. Trusting Company F, they felt assured their retirement funds and financial heritage were secure.
Frequently Asked Questions
What is the best life insurance for newlyweds?
The best life insurance for newlyweds depends on their specific needs and future plans. Term life insurance is often a popular choice for newlyweds due to its affordability and flexibility. Joint life insurance policies are also an option but tend to be more expensive and may have limitations on the payout.
Should we get first-to-die life insurance as newlyweds?
First-to-die life insurance is a joint policy option that protects one spouse if the other passes away. However, it may not provide a death benefit for other beneficiaries. Consider naming your spouse as a beneficiary in a term life insurance policy instead or explore other permanent life insurance options.
What’s the average cost of life insurance for a married couple?
The cost of life insurance for a married couple varies based on factors such as age, gender, health, and the type of policy. Term life insurance is generally less expensive than whole life insurance. Rates differ among insurance companies, so it’s essential to compare quotes to find the best coverage at a reasonable cost.
How can I find newlywed life insurance?
It’s important to shop around and compare policies from different insurance companies. Take your time to find a policy that suits your needs and budget. Consider contacting companies directly to inquire about available discounts. You can use our free quote tool to compare newlywed life insurance rates from top companies.
Compare Insurance Providers Rates to Save Up to 75%
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Michael Leotta
Insurance Operations Specialist
Michael earned a degree in Business Management with an insurance focus, which led to a successful 25-year career in insurance claims operations and support. He possesses a high-level of business acumen across multiple areas of the insurance industry. Over the course of his career, he served in multiple roles supporting claims operations including: Claims Specialist, Claims Trainer, Claim Automatio...
Insurance Operations Specialist
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.