If you’re married, you have an Insurable Interest in your spouse, which is required in order to purchase life insurance on another person.
In addition, the insurer may require that your spouse sign the application for coverage.
Many spouses buy life insurance so that each is covered, especially if they both work and rely on two incomes, or even if one stays at home and take care of the family.
Term life insurance plans offer the most affordable family protection with rates much lower than permanent life insurance coverage.
Learn more about purchasing a life insurance policy on your spouse.