Spouse Life Insurance: Protecting Your Partner with Comprehensive Coverage

Whether you've been married for years or are newlyweds, you care about the well being of your spouse. And today, most couples rely on each other financially and need two incomes to make ends met. Getting life insurance for yourself can help you rest easy, knowing that your spouse will be financially protected if something should happen to you. Likewise, your spouse getting life insurance on his or herself will give you the financial protection you'll need if something happens to him or her. So let's look at some life insurancte options that could help rpotect you both.

Types of Life Insurance Policies for Spouses

Gerber Life offers different life insurance policies depending upon your needs. The Gerber Life Insurance Family Plan gives you the choice of Term or Whole life insurance with the option to include some coverage for your spouse and kids, thus a 'family plan'. Whether you choose Term or Whole will depend on how much coverage you need, how long you need it, and your budget. A term life insurance policy provides coverage for a specific amount of time, such as 10, 20, or 30 years. The policy pays out a death benefit if the person insured dies in that timeframe. Whole life insurance can provide coverage for your entire life. So assuming premiums are paid, the policy pays out whenever the person dies. Because of the extended period of coverage, whole life insurance is typically more expensive than term life insurance. Gerber Life offers both term life and whole life insurance to serve your family’s needs.

Gerber Life Insurance Family Plan Term Life Policy

Our Term Life Plan provides a reliable way to protect your family’s financial future at a more moderate cost than for whole life insurance. Adults 18 to 70 years old can select a coverage amount to meet your family’s needs, ranging from $100,000 to $2 million. Depending on your age, there is a choice of 10, 20, or 30 year terms, and your premium rate is locked in for the duration of the term. Young families generally need higher coverage amounts and choose Term life because it provides the most coverage for the lowest cost.

Gerber Life Insurance Family Plan Whole Life Policy

The Family Plan Whole Life policy provides coverage from $50,000 up to $1,000,000, (up to $500,000 for those age 56 or older). It also has guaranteed cash value that grows, should you or your loved ones need immediate cash in the future for any reason, as long as your premiums are paid. The policy can last a lifetime, and, your premium rate is locked in for your lifetime as well.

Choosing a Policy

Life Insurance for the Whole Family

The Gerber Life Family makes it easy for you to protect your whole family. The Family Plan gives you the option to include $50,000 of 10 year term life insurance coverage for your spouse on your policy. It's a spouse "rider" and the cost will depend on your spouse age & gender (only spouses younger than 50 can be included). And if you have kids younger than 18, you can choose to include coverage for you kids too, a child rider that provides $10,000 of coverage per child (until age 21). Get a Family Plan quote and you can compare Term coverage vs. Whole life coverage to see what makes sense for you.

Famliy Plan x2

If your spouse needs more than $50,000 in coverage, they can apply for their own Family Plan policy, selecting the appropriate coverage amount. Not sure how much coverage you or your spouse should get? Click to get a needs assessment and a quote.

Age 50+ and looking for coverage for you and your spouse?

While our Family Plan does cover older ages, we also offer a Guaranteed Life policy for those age 50 and over who don't want to answer health questions. It provides guaranteed acceptance regardless of health and offers coverage from $5,000 - $25,000. This policy is generally used to cover your final expenses so your family isn't burdened by funeral or other expenses left behind. Guaranteed acceptance is possible due to the 2-year graded death benefit. If you die within the first 2 years of the policy, the payout is limited to premiums paid plus 10%. Click to find out more about our Guaranteed Life insurance.

Still not sure on which insurance plan is better for you and your spouse? Click to learn more about Term or Whole life insurance or get a quote.