Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: May 6, 2021

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The Brief

  • Life insurance rates for spouses are not affected by your marital status
  • Couples with children should consider spouse life insurance since taking care of kids on one income can be difficult
  • You’ll need to choose your primary and contingent beneficiaries

Life insurance for spouses is a type of life insurance you can purchase for your partner, ensuring that, in the event of an unexpected death, the surviving spouse and any beneficiaries will receive a payout.

This helps to protect them from having to deal with financial difficulties from living on one income.

Although many couples only think to buy spouse life insurance for the breadwinner, buying life insurance for stay-at-home parents is equally as important since it can help to cover the costs of raising children.

The average spouse life insurance rates are $26, but there are some factors that can affect your rates including your gender, health, age, and policy type.

Ready to find affordable life insurance for spouses? Enter your ZIP code to get life insurance quotes for spouses now.

Why purchase spouse life insurance?

Spouse life insurance can protect you in many ways. It can help to cover the cost of many necessities including groceries, rent, bills, mortgage payments, and taking care of children.

If the spouse that usually takes care of the children were to die, the payout from their life insurance policy would help cover the cost of a nanny and any other services the children might need.

While spouse life insurance can help with the costs of raising children, it is also beneficial for couples whose children have already left home.

The Insurance Information Institute provides a few examples of why having life insurance even after your children are financially independent can be beneficial.

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Separate vs. Joint Life Insurance Policies

It’s important to consider what kind of spouse life insurance policy would be the best option for both of you. Deciding between separate and joint life insurance policies can be tricky, but there are a few things you can keep in mind to make your decision easier.

Separate life insurance policies allow you to customize each policy to both of your individual needs. This is especially good for couples that want different levels of coverage based on their income.

Having separate life insurance can also be more convenient. In the case of divorce or separation, both of you keep your individual policies.

Joint life insurance is often cheaper than separate life insurance, but it can be more complicated.

With joint life insurance, there is no option to customize the policy. This means that both partners are insured for the same amount, so the payout will be the same regardless of which spouse dies.

Choosing Beneficiaries

Most married individuals choose their spouse as their primary life insurance beneficiary. This ensures that if they die, their spouse can receive the death benefit and live more easily on one income.

It’s also important for couples to consider a contingent beneficiary, particularly if they have children. Contingent beneficiaries receive the death benefit if the primary beneficiary dies or is otherwise unable to collect it.

If your spouse is your primary beneficiary and they die before you, you’ll need to make sure that your contingent beneficiary is the person that would become your children’s legal guardian if you died as well.

This would help to ensure that your money would go towards taking care of your children.

Enter your ZIP code in our free tool below to compare quotes before you buy life insurance for spouses in your area.