Do both spouses need life insurance?
In nearly every family, yes. The fact is that a life policy only covers the person who owns it. In most cases, there would be a significant change in lifestyle if either spouse dies. A life policy for each spouse assures that, in case of a premature death, the family left behind is able to maintain their lifestyle.
Related Questions
- Why is it better to have an irrevocable life insurance trust purchase alife insurance policy on the donor, rather than have the heirs themselves own a permanent life insurance policy with the premium paid by the heirs with gifts by the now- living donor?
- Is Second-to-Die or Survivorship life insurance available to diabetics and their spouses or business partners?
- Do both spouses need life insurance?
