If both you and your spouse work, and you depend upon both incomes to keep afloat financially, you both need Life Insurance. Term Life Insurance is the most affordable way to help assure income can be replaced should either of you die.
If you are each in reasonably good health, you can probably buy hundreds of thousands of dollars in Term Life Insurance for just pennies on the dollar. What’s more, because women statistically live longer than men, their premiums are even lower.
What about a spouse who doesn’t work? Well, unless you’re independently wealthy, it’s usually a good idea for a non-working spouse to have Life Insurance as well. Just think what it would cost if you had to hire out childcare, shopping, chauffeuring, cleaning and cooking.
Even if the surviving spouse picked up some of these tasks, he or she would probably have to sacrifice time at work. And this could have a huge economic impact on your income.
There’s a quick, hassle-free way to get an idea of how affordable Term Life Insurance can be for you. Just to go the web and find an independent sales company that represents a range of highly rated Term Life Insurance companies. Call them up and ask for a impartial “price comparison” of your best prices.
SelectQuote has exclusive videos of Suze Orman offering impartial advice on buying Life Insurance.