Life insurance plans are an essential investment for married couples. Having a life insurance policy in place can help safeguard your spouse and ensure they have sufficient funds available in the event of an unexpected death. One type of policy to consider as a married couple is term life insurance. This provides an additional layer of security to a family. Having a life insurance policy in place may protect your family from unexpected life events that result in a challenging financial situation. Most importantly, it can help avoid financial loss and devastation.
Is a Joint or Individual Term Policy Better?
It is important to figure out which type of life insurance policy is best for you and your spouse. A term life insurance policy allows couples to continue to financially support the other, should one of them pass. This is an important part of providing for your spouse in the event of an unexpected accident or injury resulting in death. Term life insurance policies are popular among couples because they are simple, affordable and effectively meet a variety of needs.