Should You Buy A Spouse Life Insurance?

The primary purpose of life insurance is the replacement of lost income. So, if your spouse is a income producing member of a family, the answer is obviously yes and you should by spouse life insurance. But even if your spouse especially woman spouse does not have a career outside the home, then also there are several reasons to buy life insurance for women or non-working spouse. This non-working person may not be bringing in income, but they are providing valuable services which allow you, the wage-earner, to bring in more income. Without non–working spouse, you would have to pay for these services life (baby sitting, coocking, cleaning, laundry etc). Once again, it is most important to cover the breadwinner(s), but it is wise to cover a non-working spouse as well. Also, life insurance for spouse will help to create a legacy for the next generation. If you are fortunate and in the estate tax bracket (meaning making lots of money and have lots of money – GET IT!), Spouse life insurance will help to provide liquidity to pay estate tax liabilities at the death of second spouse. A whole life insurance policy on spouse can be a very powerful retirement savings plan or an ideal college savings plan for your children.

Please call one of our life insurance specialists at (877) 972-3262 to determine the right kind of spouse life insurance or please complete life insurance quote online request form now.