Do Both My Spouse And I Need Life Insurance Coverage?

Do Both My Spouse And I Need Life Insurance Coverage?

Protecting your Roseville family is the most important thing. That is why having a life insurance plan is so important. Life insurance can help your family through the financial difficulty of losing you. However, if you are married, you may be wondering if both you and your spouse need coverage. The answer depends on your unique family situation, but in almost all cases, it’s a good idea to have coverage for the both of you.

 

Why Both Spouses Need Life Insurance

 

The costs of living are only going up nowadays, and it can be tough to make ends meet on a single income. Even if your household has a primary breadwinner, the costs associated with funeral planning can be covered by a life insurance plan. This will help you avoid any unnecessary financial hardship following your loved one’s death, regardless of your home’s finances. Having a policy on each spouse is just a smart idea all around.

 

Do Both Spouses Need The Same Amount Of Life Insurance?

 

When you and your spouse look at buying a life insurance policy, the next question that you may think about is if both of you need the exact same coverage. Every home is unique. In homes with a primary breadwinner, it may make sense to have a larger policy on that individual. The best way to decide is to work with a life insurance agent to calculate how much each of you would need to have a good quality of life if the other should pass first.

 

When Should You Begin Considering Life Insurance?

 

In an ideal world, we would all have a life insurance policy the day we get married and start our families. However, there is no better time to purchase a life insurance policy than the present. The younger you are when you purchase a life insurance policy, the less expensive your premiums will be over time. So rather than wait until you get closer to retirement, speak to a Roseville life insurance agent about your family’s needs.

 

What Type Of Life Insurance Policy Is Best For Spouses?

 

As everyone’s situation is unique, there is no one best policy for every couple. Instead, it’s a good idea to answer all of these questions:

 

  • How long should my coverage last?
  • How long should my spouse’s coverage last?
  • What is our monthly budget for insurance?
  • What would I need my spouse’s insurance to cover?
  • What would my spouse need my insurance to cover?

 

Once you have the answers to those questions, a Roseville life insurance agent at Asurea can help you find the perfect plan that meets your family’s needs. Check out our website at https://asurea.com to review the options we offer, and then give us a call so one of our helpful agents can walk you through the process. At Asurea, our team will work hard to find both you and your spouse the perfect life insurance plan.

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