When both partners are employed, you can get a life insurance policy for couples that can help replace a partner's income in the event of their death. We also recommend this life insurance for younger couples who are still in the early stages of building a solid financial foundation for themselves. Weddings can be costly, and if the couple is covering most or all of the expenses, this type of dual life insurance can lessen the financial impact, should the worst happen.
It often makes good sense to get Life Insurance for both partners, even if only one is working and you have no dependents. As well as the added protection, most insurance companies also offer Couples Life Insurance premium discounts of 5-10% compared with individual life policies. Hence taking joint life cover when you're married is a definite plus. Moreover, you make a secure investment and save more with every premium paid.
When it comes to taking care of your family, getting a joint life insurance policy is the most brilliant move you can make. Family Life Insurance helps ensure your family's financial security in the event of your death, diagnosis of a serious medical condition or a terminal illness. Then, the insurance company pays a lump sum benefit to the beneficiaries of your choice in case of your demise or if you become permanently disabled.
However, not all insurance policies are made equal, and you need to compare life insurance quotes before deciding. As your insurance adviser, we provide you with valuable tips to select life insurance cover that addresses your financial obligations and goals.
But your first move is to obtain life insurance quotes for various types of life insurance before making a decision. Then, your best course of action is to contact us to help you compare life insurance premiums and products to get you on the right track.
WHY GET LIFE INSURANCE COVER FOR COUPLES?
When both partners are employed, life insurance for couples can help replace a partner’s income in the event of their death. With term life insurance for married couples, you can ensure the payment of a lump sum benefit payout when the need arises. We can also advise you about the benefits of income protection in addition to your life insurance as both products will protect you when the need arises.
We recommend you buy life insurance for younger couples who are still in the early stages of building a solid financial foundation for themselves. Weddings can be costly, and if the couple is covering most or all of the costs, life insurance can lessen the economic impact should the worst happen. And while some insurance policies require a medical history, this is not the case for all.
So, protect your financial future together by opting for insurance for young married couples. For additional cover, consider obtaining income protection insurance, too, because you never know when you can lose your job due to unforeseen circumstances such as economic changes or health issues like total and permanent disability or terminal illness.
Even if one partner is not working, it still makes good sense to take out life insurance for couples, especially if that partner is primarily responsible for raising the children. Couples Insurance will help cover the costs of a babysitter or childcare if needed.
Take your pick from several life insurance options for couples in Australia with your reliable insurance partner, Wealth Smart. Whether you’re a married or unmarried couple, we have the right policy for you if you reside at the same address (and have children or not). You ensure your partner will not be exposed to sudden financial distress by opting to buy life insurance for unmarried couples.
By speaking to us, we can inform you of all your options, demystify life insurance pay, provide you with life insurance quotes and take you through the relevant product disclosure statement before you commit to any life insurance providers.
All our life insurance providers have an Australian credit licence. So if you’re concerned about a terminal illness benefit, health insurance, trauma insurance, a car insurance policy, or business insurance on top of direct life insurance, we are open to discuss all your needs.
DO YOU NEED FAMILY LIFE INSURANCE?
This type of Life Insurance is designed to cover the daily living costs of your dependants if you were to pass away suddenly, including food, clothing, mortgage, rent, and education. So you will always secure your family’s financial situation this way.
Family Life Insurance is most recommended when you are the main source of family income, as it will protect your children and other dependants from facing financial difficulties should you no longer be able to work. Family Life Insurance is also worth considering for the parent who is not the primary breadwinner, as it can cover their contribution as a family chef, chauffeur, and caregiver.
When deciding the level of cover right for you, it is worth doing some calculations that consider your family’s specific financial goals, such as paying off the mortgage and covering school fees.
This way, you can maximize the benefits of an insurance policy and transform it into the best life insurance for couples. Call us at 1800 765 100.
FAQs
HOW MUCH LIFE INSURANCE DOES A COUPLE NEED WITH NO KIDS AT HOME?
There is no one size fits all for life insurance policies. It will always depend on a couples needs and how much they would like to leave to financial dependents in the event of death or serious illness. A great place to start is sitting down with a financial adviser and reviewing your levels of debt, who your beneficiaries are on the policy, and a complete estate plan based on your needs.
WHAT COMPANIES ARE GOOD FOR WHOLE LIFE INSURANCE FOR 50+-YEAR-OLD MARRIED COUPLES?
No two policies or life insurance companies are the same. Life insurance policies are priced and targetted differently based on a wide range of factors from age and gender to occupation. Just because one family has an existing life insurance plan doesn’t mean that the same policy applies to another family.
We always recommend giving us a call to chat about your family situation, but if you would like to use our tool to get some quotes to get the ball rolling, you can do that.
There are no costs involved with jumping on our website and sending yourself some quotes to see who comes up the most competitive for you.
WHEN A COUPLE GETS DIVORCED, WHAT HAPPENS TO THE LIFE INSURANCE POLICY?
Once you submit an application and the life insurance policy is accepted, you do not have to update the insurer about a change in a life insured circumstance, or in this case, relationship status.
Often when a couple gets divorced, it is a simple matter of updating the beneficiaries on the policy to ensure that an eventual claim will payout to a selected beneficiary. Very rarely will anyone need to go through any new application or underwriting in the case of a divorce.
As policies generally are owned by individuals, a change in the relationship status isn’t typically too difficult to split up. So give us a call, and we will be happy to discuss your circumstances and provide you with the best financial advice.
HOW TO GET MARRIED COUPLE LIFE INSURANCE?
Some insurers do offer discounts if you sign up as a couple. For example, insurers often provide multi-policy discounts for bundling together life, permanent disability (TPD) insurance, and trauma insurance or income protection. In addition, couples can often apply together and quickly nominate each other as the beneficiary of each other’s policies.
Please give us a call, and we are happy to discuss how you can leave your loved ones with a sufficient financial safety net.
HOW TO BUY LIFE INSURANCE FOR A COUPLE?
The first step for buying life insurance for a couple is the same as purchasing life insurance for an individual. Whenever you compare life insurance quotes, you always start by quoting as an individual. Then when matching the quotes directly with the life insurers and submitting your application, we can note that you are applying as a couple.
WHEN SHOULD A MARRIED COUPLE STOP BUYING TERM LIFE INSURANCE?
You can use life insurance for a variety of reasons. Some more popular motivations include ensuring that you do not pass your debt onto your spouse if you pass away unexpectedly. Estate planning is another strong motivation to know that your family will be financially secure if you can no longer provide an income.
Why choose us
Quote yourself in 2 minutes, then compare life insurance premiums, and choose your own life insurance policy.
Call our experts to ask any questions about life cover, how much life insurance you need, life insurance tax-deductible benefits, and the lump sum payment options available.
We will take you through each step of the process to bring your life insurance policy into operation.
GET LIFE INSURANCES QUOTES
Compare life insurance quotes from Australia's leading life insurers. Find out about the various types of life insurances, income protection insurance, and calculating life insurance premiums today.
WHAT LEVEL OF LIFE INSURANCE COVERAGE FOR COUPLES SHOULD YOU GET?
There are three main areas to consider when you compare different types of life insurance policies. Included in these considerations, ask how much cover you need to protect your income, living expenses if you become permanently disabled or questions about direct life quotes:
Income
If only one partner earns a salary, that partner should insure themselves for a more significant amount. If both partners make a similar amount, a joint life insurance policy with comparable coverage for each partner will ensure family living expenses will continue to be covered if one partner passes away. At Smart Life, we offer life insurance to suit every target market determination, so contact us to discuss the monthly benefit of taking out protection for your income.
Partner responsibility
While both partners support the family, one may be a stay-at-home parent, putting most of their time into keeping house and raising the children. These responsibilities may be worth a significant dollar sum in terms of childcare costs, hiring a housekeeper, gardening, and so on.
The critical point is to purchase life insurance for more than just income replacement, as many activities such as child-rearing can also have a significant dollar value. In addition, taking out direct life insurance can mean the difference between supporting your family’s comfort or leaving them to struggle if you fail to take responsibility for your partner.
Risk of injury or major illness
If you have a family history of pre-existing medical conditions or serious illnesses, you need a life insurance policy. Getting life insurance as a couple is a wise choice regardless of your income level. It may also be worth considering taking out TPD (Total and Permanent Disability) insurance to bridge the gap between waiting periods while waiting for a life cover policy that pays a lump sum.
WHEN SHOULD MARRIED COUPLES TAKE OUT LIFE INSURANCE?
Like individual life insurance, it is a good idea to obtain life insurance when you’re married and still relatively young and free of health issues. If you use this strategy, more insurance options will be available to you during this time, and the life insurance costs are much lower.
However, any pre-existing medical conditions will form part of the premium calculation, so be aware of this factor when speaking to your financial adviser.
Unfortunately, many couples leave this life insurance decision until it’s too late, when their partner is already deceased, or when health problems arise. So instead, make the wise choice to get income protection and life insurance while you’re still young.
CHOOSING LIFE INSURANCE POLICIES FOR COUPLES
Having the correct type of life insurance is about more than replacing you or your partner’s income should the worst ever happen. It would help if you took some time to think about the actual dollar value of everything you and your partner do for your family.
Whether looking after the kids, performing home maintenance, doing the weekly shopping, or planning for funeral costs, taking responsibility for choosing the best life insurance policies now, provides security later.
Wealth Smart’s advisers have the insurance industry knowledge and expertise to help you make the right decision, ensuring your family will always be protected. Do not hesitate to seek professional advice when you decide that you need life insurance sooner rather than later.
WHO IS ELIGIBLE FOR FAMILY LIFE INSURANCE?
Family life insurance can be an affordable life insurance policy that secures your family’s future, starting from just $1.50 a week. All Australian residents between the ages of 18 and 64 can apply.
Family Life Insurance premiums can vary according to several factors, including:
Your age and gender
Whether or not you smoke
Your occupation
Most life insurance policies are similar in their conditions and level of coverage and do not necessarily require a medical history or blood tests. But, for all the types of life insurance policies you explore, always read the product disclosure statement to cover all your bases.
Call us now to discuss your life insurance options, life insurance cost, and other details regarding a lump sum payout and additional information with our experts. Life insurance explained by professionals is the one thing that can help you secure your financial future.
WHAT TYPES OF FAMILY LIFE INSURANCE ARE AVAILABLE?
Most life insurance policies offer a similar level of benefit, and you can tailor a family life insurance policy to suit your family’s specific needs, including the amount paid out to beneficiaries. If your family has young children, for example, the lump sum payout may need to be around 10-12 times your family’s annual taxable earnings to ensure you meet their needs for some time after your death.
Another benefit of many life insurance products is that they are tax-deductible, so speak to us about all your life insurance needs today to explore all your options together.
CHOOSING FAMILY LIFE INSURANCE
Family Life Insurance is the best way to ensure your partner and children can continue to enjoy the lifestyle you have worked so hard to provide. This financial provision is especially critical should you suffer total and permanent disability or other misfortune. In addition, in the case of a serious illness, you can use a terminal illness benefit that helps family members cope with this type of situation more easily.
As a reputable insurance company service provider, Wealth Smart understands that the process of comparing life insurance policies is vital to suit your financial circumstances.
Wealth Smart also appreciates that choosing a family insurance policy that is right, not just for you but for those who depend on you, can be a daunting and time-consuming task.
That’s why we are committed to making the job as easy as possible, helping you with death cover where possible and limiting waiting periods for lump-sum payouts.
We offer a straightforward, comprehensive, and objective comparison of family life insurance options from leading providers so you can make an informed choice that suits your unique situation and budget.
You will have peace of mind knowing your family will always be looked after when you take out the best life insurance policy, trauma insurance or life cover to help pay for living expenses. So, call us for life insurance quotes to make a meaningful difference in your life and that of your loved ones.
WHEN SHOULD MARRIED COUPLES TAKE OUT LIFE INSURANCE?
Like individual life insurance, it is a good idea to obtain life insurance when you’re married and still relatively young and free of health issues. If you use this strategy, more insurance options will be available to you during this time, and the life insurance costs are much lower.
However, any pre-existing medical conditions will form part of the premium calculation, so be aware of this factor when speaking to your financial adviser.
Unfortunately, many couples leave this life insurance decision until it’s too late, when their partner is already deceased, or when health problems arise. So instead, make the wise choice to get income protection and life insurance while you’re still young.
CHOOSING LIFE INSURANCE POLICIES FOR COUPLES
Having the correct type of life insurance is about more than replacing you or your partner’s income should the worst ever happen. It would help if you took some time to think about the actual dollar value of everything you and your partner do for your family.
Whether looking after the kids, performing home maintenance, doing the weekly shopping, or planning for funeral costs, taking responsibility for choosing the best life insurance policies now, provides security later.
Wealth Smart’s advisers have the insurance industry knowledge and expertise to help you make the right decision, ensuring your family will always be protected. Do not hesitate to seek professional advice when you decide that you need life insurance sooner rather than later.
WHO IS ELIGIBLE FOR FAMILY LIFE INSURANCE?
Family life insurance can be an affordable life insurance policy that secures your family’s future, starting from just $1.50 a week. All Australian residents between the ages of 18 and 64 can apply.
Family Life Insurance premiums can vary according to several factors, including:
Your age and gender
Whether or not you smoke
Your occupation
Most life insurance policies are similar in their conditions and level of coverage and do not necessarily require a medical history or blood tests. But, for all the types of life insurance policies you explore, always read the product disclosure statement to cover all your bases.
Call us now to discuss your life insurance options, life insurance cost, and other details regarding a lump sum payout and additional information with our experts. Life insurance explained by professionals is the one thing that can help you secure your financial future.
WHAT TYPES OF FAMILY LIFE INSURANCE ARE AVAILABLE?
Most life insurance policies offer a similar level of benefit, and you can tailor a family life insurance policy to suit your family’s specific needs, including the amount paid out to beneficiaries. If your family has young children, for example, the lump sum payout may need to be around 10-12 times your family’s annual taxable earnings to ensure you meet their needs for some time after your death.
Another benefit of many life insurance products is that they are tax-deductible, so speak to us about all your life insurance needs today to explore all your options together.
CHOOSING FAMILY LIFE INSURANCE
Family Life Insurance is the best way to ensure your partner and children can continue to enjoy the lifestyle you have worked so hard to provide. This financial provision is especially critical should you suffer total and permanent disability or other misfortune. In addition, in the case of a serious illness, you can use a terminal illness benefit that helps family members cope with this type of situation more easily.
As a reputable insurance company service provider, Wealth Smart understands that the process of comparing life insurance policies is vital to suit your financial circumstances.
Wealth Smart also appreciates that choosing a family insurance policy that is right, not just for you but for those who depend on you, can be a daunting and time-consuming task.
That’s why we are committed to making the job as easy as possible, helping you with death cover where possible and limiting waiting periods for lump-sum payouts.
We offer a straightforward, comprehensive, and objective comparison of family life insurance options from leading providers so you can make an informed choice that suits your unique situation and budget.
You will have peace of mind knowing your family will always be looked after when you take out the best life insurance policy, trauma insurance or life cover to help pay for living expenses. So, call us for life insurance quotes to make a meaningful difference in your life and that of your loved ones.
WHEN SHOULD MARRIED COUPLES TAKE OUT LIFE INSURANCE?
Like individual life insurance, it is a good idea to obtain life insurance when you’re married and still relatively young and free of health issues. If you use this strategy, more insurance options will be available to you during this time, and the life insurance costs are much lower.
However, any pre-existing medical conditions will form part of the premium calculation, so be aware of this factor when speaking to your financial adviser.
Unfortunately, many couples leave this life insurance decision until it’s too late, when their partner is already deceased, or when health problems arise. So instead, make the wise choice to get income protection and life insurance while you’re still young.
CHOOSING LIFE INSURANCE POLICIES FOR COUPLES
Having the correct type of life insurance is about more than replacing you or your partner’s income should the worst ever happen. It would help if you took some time to think about the actual dollar value of everything you and your partner do for your family.
Whether looking after the kids, performing home maintenance, doing the weekly shopping, or planning for funeral costs, taking responsibility for choosing the best life insurance policies now, provides security later.
Wealth Smart’s advisers have the insurance industry knowledge and expertise to help you make the right decision, ensuring your family will always be protected. Do not hesitate to seek professional advice when you decide that you need life insurance sooner rather than later.
WHO IS ELIGIBLE FOR FAMILY LIFE INSURANCE?
Family life insurance can be an affordable life insurance policy that secures your family’s future, starting from just $1.50 a week. All Australian residents between the ages of 18 and 64 can apply.
Family Life Insurance premiums can vary according to several factors, including:
Your age and gender
Whether or not you smoke
Your occupation
Most life insurance policies are similar in their conditions and level of coverage and do not necessarily require a medical history or blood tests. But, for all the types of life insurance policies you explore, always read the product disclosure statement to cover all your bases.
Call us now to discuss your life insurance options, life insurance cost, and other details regarding a lump sum payout and additional information with our experts. Life insurance explained by professionals is the one thing that can help you secure your financial future.
WHAT TYPES OF FAMILY LIFE INSURANCE ARE AVAILABLE?
Most life insurance policies offer a similar level of benefit, and you can tailor a family life insurance policy to suit your family’s specific needs, including the amount paid out to beneficiaries. If your family has young children, for example, the lump sum payout may need to be around 10-12 times your family’s annual taxable earnings to ensure you meet their needs for some time after your death.
Another benefit of many life insurance products is that they are tax-deductible, so speak to us about all your life insurance needs today to explore all your options together.
CHOOSING FAMILY LIFE INSURANCE
Family Life Insurance is the best way to ensure your partner and children can continue to enjoy the lifestyle you have worked so hard to provide. This financial provision is especially critical should you suffer total and permanent disability or other misfortune. In addition, in the case of a serious illness, you can use a terminal illness benefit that helps family members cope with this type of situation more easily.
As a reputable insurance company service provider, Wealth Smart understands that the process of comparing life insurance policies is vital to suit your financial circumstances.
Wealth Smart also appreciates that choosing a family insurance policy that is right, not just for you but for those who depend on you, can be a daunting and time-consuming task.
That’s why we are committed to making the job as easy as possible, helping you with death cover where possible and limiting waiting periods for lump-sum payouts.
We offer a straightforward, comprehensive, and objective comparison of family life insurance options from leading providers so you can make an informed choice that suits your unique situation and budget.
You will have peace of mind knowing your family will always be looked after when you take out the best life insurance policy, trauma insurance or life cover to help pay for living expenses. So, call us for life insurance quotes to make a meaningful difference in your life and that of your loved ones.
OBTAINING A FAMILY OR LIFE INSURANCE QUOTE FOR COUPLES
Family or life insurance for couples can be the best and most cost-effective way to secure your family's financial security should the worst happen to either partner.
Wealth Smart compares family and life insurance for couples products from the leading life insurance providers to give you the best and most comprehensive financial advice.
We help you find the life cover policy that is the right fit for you and your partner's financial situation and personal circumstances that gives you both peace of mind. Moreover, you can qualify for certain types of life insurance without needing a medical history, so call us today.
Whether you buy recovery insurance, get life insurance, funeral insurance, or any other type of cover, always check the product disclosure statement for your protection.
