Life Insurance for Unmarried Couples (Tips to Save)
Life insurance for unmarried couples is typically more expensive than for married couples, but if you bundle home, auto, and life insurance under the same provider you can net huge savings. Unmarried couples who stay in good health can also lower their life insurance rates. If you and your significant other have children or shared assets together, you will be able to name them as a beneficiary on your life insurance policy.
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Insurance Lawyer
Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...
Jeffrey Johnson
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Chris is the founder of Abrams Insurance Solutions and Marcan Insurance, which provide personal financial analysis and planning services for families and small businesses across the U.S. His companies represent nearly 100 of the top-rated insurance companies. Chris has been a licensed life and health insurance agent since 2009 and has active insurance licenses in all 50 U.S. states and D.C. Chr...
Chris Abrams
Updated July 2023
- If they have shared assets or children together, unmarried couples can get life insurance
- Your significant other must give consent to be named as a beneficiary on your policy
- Bundling home, auto, and life insurance under the same provider can help unmarried couples save
If you’ve been with your significant other for a while but haven’t tied the knot, you may be wondering if you can buy life insurance for unmarried couples.
Perhaps you have a child with your significant other. Perhaps you even have a dangerous job and are thinking about protecting your family with life insurance. Whatever the situation, if you care about them, you’ll want to know they’ll be taken care of after you’re gone.
Keep reading below to find out whether unmarried couples can get life insurance, and if so, how you can save on your monthly premium. When you’re ready, enter your ZIP code above to find affordable life insurance for unmarried couples in your area.
Can unmarried couples get life insurance?
You’re probably aware that married couples are eligible for life insurance policies to cover a loss of income should either spouse pass away. But can unmarried couples get life insurance?
The answer is yes. As long as you and your significant other have assets together (like a home or a car loan) or have children, either one of you can take out an insurance policy and name your partner as your beneficiary.
Basically, as long as your significant other relies on your income for rent, bills, or child support, then you should be able to put them on your life insurance policy.
Of course, your partner must also consent to be named as your beneficiary. It’s important that you have a conversation with them if you’re planning on including them in your life insurance policy.
If you don’t have shared assets, it may be more difficult to prove that your partner belongs on your insurance policy, so make sure to provide any documents that prove your partner relies on your income to your provider.
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How can unmarried couples save on life insurance?
Now that you know you can get insurance for unmarried couples, you’re probably wondering, “How can I save on my premium?” or “How much life insurance do I need?”
Well, one of the best ways to save is to get engaged or married. Married couples typically enjoy many discounts and see lower premiums because they are perceived as less risky.
If you’re not interested in tying the knot, but still want to protect your partner and family, there are other ways to save. Bundling your home, auto, and life insurance policies under one provider can lead to huge discounts across the board.
It also pays to stay in shape. Staying in good health and abstaining from tobacco, alcohol, and dangerous activities can also lead to life insurance discounts.
However, the best way to save on life insurance for unmarried couples is to compare multiple life insurance quotes from different companies to find the best rates. Enter your ZIP code below to find affordable life insurance for unmarried couples today.
Case Studies: Life Insurance for Unmarried Couples
Case Study 1: Bundle and Save
Sarah and Mark, an unmarried couple with shared assets and a child, sought life insurance coverage to ensure financial security for their family. Aware that life insurance for unmarried couples tends to be more expensive, they decided to explore options for saving on premiums.
After researching and consulting with insurance providers, Sarah and Mark discovered that bundling their home, auto, and life insurance policies with the same provider led to substantial discounts. By taking advantage of this opportunity, they were able to secure comprehensive coverage at a more affordable rate. This case study underscores the benefits of bundling policies and the potential for significant savings.
Case Study 2: Health is Wealth
Alex, an unmarried individual in a committed relationship, recognized the importance of maintaining good health to lower life insurance rates. As someone who stays in shape and abstains from tobacco, alcohol, and dangerous activities, Alex proactively sought opportunities to save on life insurance premiums. Through diligent research and comparison, Alex identified insurance providers that offer discounts for healthy lifestyles.
By choosing a provider that rewards good health practices, Alex obtained life insurance coverage at a more favorable rate. This case study emphasizes the significance of maintaining a healthy lifestyle and leveraging it to reduce life insurance costs.
Case Study 3: Comprehensive Coverage for Shared Dependents
Lisa, an unmarried individual with shared assets and children, understood the importance of naming her significant other and children as beneficiaries on her life insurance policy. She recognized that providing financial protection for her dependents was crucial, regardless of marital status.
By selecting a life insurance policy that allows for naming beneficiaries beyond a spouse, Lisa ensured that her loved ones would be taken care of in the event of her passing. This case study highlights the importance of considering dependents when securing life insurance coverage and the flexibility available for unmarried couples.
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