Top Life Insurance Provider for Married Couples [2024]
Buying life insurance for a married couple is an important consideration. In the event of your death, it would deliver a financial payout that would help to support your spouse and any children you have. The cost of life insurance for a married couple rates depends on what type of policy you buy, but joint life insurance is usually the cheaper option. Married couples are also eligible to receive long-term care insurance discounts.
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Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
UPDATED: Feb 25, 2024
It’s all about you. We want to help you make the right coverage choices.
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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: Feb 25, 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
- Married couples will need to decide between single life insurance and joint life insurance
- Married couples can receive discounts on long-term care insurance
- Buying married couple life insurance for stay-at-home parents is just as important as buying life insurance for the breadwinner
Having a safety net for you and your spouse is important. You want to choose the right coverage that will help to support your spouse after you pass away.
But what is the best and most affordable life insurance for a married couple? And should married couples buy divorce insurance?
Keep reading to find out all you need to know about married couple life insurance.
Looking for married couple life insurance? Enter your ZIP code to get free life insurance quotes for married couples.
What is married couple life insurance?
Married couple life insurance is a type of life insurance that would deliver a death benefit to your spouse if you were to die before them.
Married couple life insurance is especially important to consider if you are the breadwinner and your spouse relies on you for financial support.
If you died, your spouse would receive a financial payout that would help them to support themselves as well as any children you both have.
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Which is better for married couples, separate life insurance or joint life insurance?
Separate life insurance and joint life insurance are the two main policies married couples can buy.
Before you buy life insurance for a married couple, there are some advantages and disadvantages of each policy you’ll need to consider. Read on to learn more about separate vs. joint life insurance.
Separate Life Insurance
Separate life insurance is the most common form of life insurance for married couples.
Separate life insurance allows both spouses to purchase life insurance policies and customize their coverage to suit their lifestyle. For example, the breadwinner of the family might want more coverage on their policy to be able to make up for the loss of income in the event of their death.
Separate life insurance is also flexible with how long the policy will stay in place.
Joint Life Insurance
Joint life insurance covers both spouses under one policy. Because of this, there is no option for individual customization on the policy. However, joint life insurance can be good for those who have been previously denied life insurance because of their health.
If you have been denied life insurance due to your health, you may be able to get life insurance if you purchase a joint life insurance policy with your healthy spouse.
Read more:
How much does married couple life insurance cost?
Your life insurance rates will vary depending on factors such as your health status, age, and gender, as well as your policy type and death benefit amount.
For a male in his 40s buying a $500,000 separate life insurance policy, the average annual rate is $6,042 for a whole life insurance policy.
Joint life insurance is usually a cheaper option. For a couple in their 40s buying a $500,000 joint life insurance policy, the average annual rate is $2,436.
Are there any discounts for married couples?
You may be able to find a few companies that offer life insurance for married couples discounts, and married couples can also receive discounts on long-term care insurance.
Although the discount amounts vary from company to company, married couples can expect to save anywhere from 15% to 40% on long-term care insurance.
Do I need married couple life insurance as a stay-at-home parent?
Many couples only consider buying the breadwinner life insurance, but buying life insurance for stay-at-home parents is equally as important.
Even though you may not have a steady source of income, if you were to die, your working partner would likely have to hire someone to help take care of your children.
The financial payout to your partner from your life insurance would help to cover the costs of a nanny, a cook, or other childcare services.
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Should married couples buy divorce insurance?
Buying divorce insurance is a personal choice for couples.
Divorce insurance can help to pay for attorney fees and any other expenses you may have when going through a divorce.
Because divorces are often very expensive, it may be worth considering for low-income couples or couples that don’t want to pay the full cost of hiring an attorney.
Case Studies: Top Life Insurance Provider for Married Couples
Case Study 1: Acme Life Insurance Company
John and Sarah, a married couple in their early 40s with two children, chose Acme Life Insurance Company after thorough research. Acme’s policy options, competitive rates, and exceptional customer service left a strong impression. With Acme’s guidance, they secured a policy that covered their financial obligations, including mortgage and education expenses, bringing them peace of mind.
Case Study 2: Global Assurance Corporation
Approaching retirement, Michael and Lisa secured their financial stability by choosing Global Assurance Corporation for its flexible retirement planning options. The company’s strong financial reputation and retirement-focused policies made it the ideal choice, ensuring a comfortable retirement while safeguarding loved ones with life insurance coverage and built-in cash value growth.
Case Study 3: SecureLife Insurance Ltd.
Seeking financial security, young newlyweds David and Emily found the perfect match in SecureLife Insurance Ltd. Their extensive research led them to its affordable term life insurance policies, which provided essential coverage at a budget-friendly premium. They appreciated SecureLife’s intuitive online platform for managing their policy and making adjustments as needed.
Life Insurance for Married Couples: The Bottom Line
When purchasing life insurance for married couples, you’ll have to decide whether a separate life insurance policy or a joint life insurance policy would be the right fit for you.
Although you may only think to buy life insurance for the breadwinner, buying life insurance for the other spouse can be beneficial as well, particularly if they are a stay-at-home parent.
Life insurance rates for married couples vary depending on the type of policy purchased, and you can get discounts on long-term care insurance as a married couple.
Before you buy life insurance, enter your ZIP code to get free life insurance for a married couple quotes from top companies in your area.
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Frequently Asked Questions
What is married couple life insurance?
Married couple life insurance is a type of life insurance that provides a death benefit to the surviving spouse if one partner passes away.
Which is better for married couples, separate life insurance or joint life insurance?
Separate life insurance allows both spouses to have individual policies with customized coverage. Joint life insurance covers both spouses under one policy. The choice depends on personal preferences and circumstances.
How much does married couple life insurance cost?
The cost of married couple life insurance varies depending on factors like age, health, and coverage amount. On average, joint life insurance is cheaper than separate life insurance.
Are there any discounts for married couples?
Some insurance companies offer discounts for married couples, particularly for long-term care insurance. The discount amounts vary, but savings can range from 15% to 40%.
Do stay-at-home parents need married couple life insurance?
Yes, it is important for stay-at-home parents to have life insurance. Even without a steady income, the death benefit can help cover the costs of childcare services if the stay-at-home parent passes away.
Should married couples buy divorce insurance?
Buying divorce insurance is a personal choice for couples. It can help cover attorney fees and other expenses during a divorce. It may be worth considering for low-income couples or those who want to reduce the cost of hiring an attorney.
Compare Insurance Providers Rates to Save Up to 75%
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Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
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.