Do both spouses need life insurance protection?

That depends on your situation; however, if you rely on both spouses for income, or taking care of the household, it may be a good idea to have life insurance on both spouses.

Even if you have a stay-at-home spouse, or a spouse that doesn't earn an income, everything your spouse does for your family would need to be taken care of should that spouse pass away.

And, you would have to pay someone to do those tasks; such as, running errands, grocery sh...

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Is there term life insurance for a housewife?

Yes, housewives can get affordable term life insurance coverage online.

If you are a housewife, you may be considering the purchase of a term life insurance policy to help provide financial security for your loved ones should you pass away unexpectedly.

Many housewives choose to buy a 10, 15, 20 or even 30-year term life insurance coverage to make sure their families are taken care of in their absence.

Whether you are starting a family or you have gro...

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Life insurance is a type of financial protection that pays out a death benefit upon the death of the insured person, subject to the terms, conditions and exclusions stated in the insurance contract.

Life insurance pays out a death benefit if the insured person dies from a covered cause of death, including natural causes, illness or accidental death.

Yes, life insurance pays if the insured dies from natural causes.

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If you're shopping for a life insurance policy you may be wondering why people choose to buy term life insurance protection. It's actually very simple.

Term life is temporary coverage lasting for up to 30 years, and offers the lowest prices on life insurance.

So, if you need your life insurance protection for a period of 30 years or less, term life is the option for you.

Permanent life insurance provides lifetime protection, but costs up to 5-10 times more than the same amount of term life insu...

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If you have been turned down for life insurance because of medical reasons, you may be wondering how you can get insured.

Don't worry, there is another answer. In fact, there are life insurance plans that even offer "Guaranteed Acceptance" - which means you can't be denied coverage due to any health problems.

As long as you meet the age requirements, you can get insured. These plans do offer a limited amount of life insurance protection, usually $25,000 or less. 

If you need more life insurance ...

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Yes, if you are married you can buy life insurance on your spouse, (with his or her knowledge), because you have an insurable interest in your spouse.

Buying life insurance to replace a spouse's income is one of the most common reasons people choose to purchase life insurance coverage.

You are choosing to provide financial security for your family should your spouse pass away, by insuring his (her) income with life insurance.

That way, your family can maintain their standard of living and have f...
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Do I need life insurance coverage for my spouse?

It depends. Does your spouse work, earn an income and contribute to paying for the living expenses for your family?

Even if your spouse doesn't earn income, he or she may handle a lot of the work around the house taking care of the kids, running errands, grocery shopping, cleaning your home, making the meals, and everything else that gets done so your family can live a nice life.

Now imagine how much it would cost to hire someone to do all of the ...
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If you have a family or anyone who relies on you for financial support, you may have a need for life insurance to protect their future.

If so, don't let these common excuses stop you from purchasing the life insurance coverage you need:

It Costs Too Much Money - Not having the life insurance you need could be much more costly in the long run. Without life insurance your spouse may have to go back to work, lose the family home, and your children may miss out on a college education.

I'm Too Busy -...
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The need for term life coverage applies equally to income-earning spouses, and there are strong arguments for acquiring life insurance for a partner or spouse who is not drawing an income, as well.

For instance, losing a stay-at-home spouse can lead to dramatically increased child-care costs, time away from work for the surviving spouse, final expenses, the settling of outstanding debts, and these are just a few of the financial aspects of such a serious loss as the death of ...

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One life insurance policy does not cover both spouses unless you purchase a joint life insurance policy,or a survivorship life insurance policy (and then it would only pay out upon the death of the second person).

Or, you could adds a rider on your own life insurance policy to provide added coverage for your spouse.

Otherwise, the spouse will need to purchase a separate individual life insurance policy to have his/her own coverage.

Learn more about life insurance for spouses.

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Why do people choose to buy life insurance - what is the purpose?

Many people buy life insurance policies to provide financial security for their loved ones inn case they die.

With life insurance you choose who will receive the proceeds (death benefit) from your life insurance upon your death.

The proceeds from your life insurance can be used by your beneficiary any way that person(s) sees fit. So, you could leave your life insurance to your spouse and he (she) could use the money to pay off the...
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What are some reasons why people don't buy life insurance?

There's a lot of common reasons for not owning a life insurance policy.

But if you need life insurance you should buy a policy to protect your loved ones.

Some of the most common excuses for not owning life insurance include:

1. It costs too much.

2. I don't understand how life insurance works.

3. I have life insurance through work.

4. I'm healthy so I don't need life insurance.

5. I'm too young to need life insurance.

Here is a complete list ...
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Yes, you can purchase life insurance on your ex.

If you have insurable interest and your ex spouse gives you permission then you can get life insurance on your ex. 

In fact, it may be wise to include life insurance coverage requirements in your divorce settlement. This way financial obligations such as child support can be protected for the future.

If the spouse paying child support passes away, the life insurance will be paid out the the guardian of the child and the child w...

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If you are considering the purchase of a whole life insurance plan you may be wondering when is the time to buy whole life insurance?

Basically, whole life policies provide you with lifetime protection and may build cash value inside your policy, but cost more than term life insurance. So,here are some reasons for buying a whole life insurance plan:

1. To provide lifetime life insurance protection.

2. To build up cash value savings inside the life insurance policy from which you may take a loan ...
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Yes, you can take out life insurance on your spouse.

In order to buy life insurance on another person you need an insurable interest in that person.

Insurable interest basically means you rely on the person for financial support, or you may suffer financially if the person were to die.

There does exist insurable interest between spouses, so you can take out a life insurance policy on your spouse.

When purchasing the life insurance on your spouse you may need your spouse's signature and he or she ...
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When it comes to buying life insurance for someone over age 50, there are several highly-rated life insurance companies.

However, choosing the best company will depend on your needs and budget, as well as, the insurer's financial strength rating and what the plan provides you as far as immediate full coverage and affordability.

There are several well-known insurers of people over age 50 including Globe Life, Colonial Penn, AARP/NewYork Life, Metlife and Prudential, among others.

One way to find ...
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Yes, if there would be a financial hardship if the non-working spouse died.

Let's say the wife has a very demanding and high income career. The husband stays home to raise the kids and take care of the house. What if the husband were to suddenly die?

Now the wife has to hire a nanny, a house keeper, a cook, and possibly a personal assistant to replace all of the the work that was being done before by the stay-at-home dad.

You would need full-time help or at least part-time h...

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No, your spouse does not have to be named as your beneficiary on your life insurance policy.

As the owner of your life insurance policy you can choose anyone you wish to be the beneficiary, including but not limited to your children, although if they are minors, it is better to leave the money to a trust or another trusted adult who you know would use the death benefit for their welfare.

You can choose anyone or any entity to be your beneficiary who has some financial input i...

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Yes, Life insurance companies can refuse to pay the death benefit of your life insurance policy if it is within two years since the policy was purchased, and they find that you misrepresented facts on the application for life insurance coverage when you applied for your policy.

For example, if the applicant for life insurance was scheduled for a biopsy for cancer, but answered "no" to the question that asked if there were pending tests for diagnosis of any disease.

If the he...

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No your life insurance death benefit can be used for any purpose your beneficiary wants to use it for.

Life insurance has nothing to do with your funeral.

Unless it's a preneed funeral insurance plan purchased from a funeral home to specifically pay for the cost of your funeral.

However, a funeral preneed life insurance policy does not have to be used for a funeral either. The funeral contract can be canceled by you at any time and the life insurance proceeds can be left to t...

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I have a life insurance policy for a non-smokers rate, and I like a good cigar every once in a while (I'm not a frequent everyday smoker). Should I be worried about having them come in and randomly test me for tobacco use?

No, there's nothing random about it. They test 100% of the time when you apply for life insurance.

However, Life insurance companies do not do "random" testing on policyholders. If you are approved for the non-smoker rate for life insurance, and then you ...

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