Expert Q&A
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Email to a FriendShould my spouse have life insurance if I already have a sufficient policy?
I have a universal life insurance policy that fully covers my wife’s income and expenses for years (I’m the breadwinner), but does my wife need a policy as well? She works part-time.
Related Topics: Life and Disability Insurance
Related Tags: Life Insurance, Coverage, Universal Life Insurance
If you have a spouse, than that is an indication that you need life insurance. Some insurance plans have the ability to add both husband and wife under one policy
Ask yourself, if something happen to her would you be able to spend 10-15,000 for funeral costs? I have found that the answer is no, so there is a need for your wife to have her own policy.
Contact an independent insurance agency to obtain the best prices, companies, and products that are available.
Dante – dthompson@the-benefit-center.net
It’s recommendable for her to have insurance as well particularly if you have children or other dependents. It doesn’t need to be a large policy, but enough to cover her contribution to the household income and the amount your family would need for any household and child care expenses.
