Life insurance for couples includes special coverage of life insurance policies where if both spouses die at the same time, for example by accident, the beneficiaries receive double compensation for each of the deceased.
In the best life insurance for married couples, it is clear that the main guarantee is death from any cause, the one in which death occurs, be it due to illness or accident, the insurer will pay the designated beneficiary the amount of the insured capital.
WHAT IS LIFE INSURANCE FOR COUPLES?
IF BOTH MEMBERS OF THE COUPLE DIE AT THE SAME TIME, THE HEIRS RECEIVE DOUBLE THE CONTRACTED CAPITAL
When we refer to double capital, it can be contracted for both death and disability coverage, and it would be an additional coverage that also differentiates a basic life insurance policy and
The capital contracted for said guarantees (death and / or disability due to accidental causes) are contracted for the same capital as the guarantees for death or disability due to any cause.
The same can be said of triple capital, it is the same dynamic but referring to the traffic accident, either in death or in disability.
Here is an example of compensation:
With a policy that covers $ 100,000 in death from any cause, double capital is available if both spouses die in the same accident. The compensation that the beneficiaries would collect would be $ 400,000
To cite an example, Life insurance for married couples includes this additional coverage and voluntary contracting in its life insurance for spouse, supporting with the payment of an additional 50% of the capital that has been contracted.
What does life insurance for couples cover?
- Death of the insured and his partner in the same accident.
- The limit of this supplementary risk may not exceed $ 250,000.
- The payment of this capital implies the automatic cancellation of the policy.
What is not covered?
We include some of the coverage in a generalised way
- Accidents prior to the effective date of the policy, although its effects appear later.
- Self-harm, suicide or its attempt, or if they are caused by the consumption of alcohol or drugs.
- Facts derived from armed conflicts, crimes, bets, challenges or fights in which the insured participates (except in legitimate defense).
- Effects derived from nuclear radiation and radioactive contamination.
- The practice of any sport as a professional, participation in sports competitions or tournaments, as well as the practice of notoriously dangerous sports or activities.
- Underwater navigation or exploration trips.
- Professional air or maritime navigation.
- Death that occurs after more than 365 days have elapsed from the date of the accident.
- Facts that are not considered an accident according to their definition in this warranty.
The difference between this insurance for couples and other products in the market is that this insurance, for the price of one, two persons are secured.
It is a safe first loss, this means that if the couple takes insurance, both are insured and if one of them dies, no matter what, pays compensation life insurance coverage ends then.
For any couple, the death of either spouse brings devastating financial consequences. Why take a life insurance that only covers one of the spouses, leaving the other helpless, if you can take insurance that for the price of one, both are insured ?
HOW DOES IT WORK?
This is life insurance for both of you, which pays you 100 million $ for death or the total and permanent disability for any reason for only:
- $ 41,667 per month for couples between 18 and 35 years old
- $ 58,333 per month for couples between 36 and 45 years old
- $ 73,333 per month for couples between 46 and 60 years old
* The age of the oldest of the couple is taken.
If you will save the value of the monthly premium for 100 years, it will still not be enough to complete the value that the compensation pays you.
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All couples from 18 to 60 years old who are in good health can be insured. (They have not been diagnosed with serious illnesses in the past).
Married couples, in common law, brothers or parents and children can be insured (They must be relatives in the first degree of consanguinity)
If the couple dies at the same time, the compensation would be paid only once to the chosen beneficiaries
It does not require medical tests or forms, if you wish, it can be taken by phone, we record your statement or you can send us your insurability form signed.
Possible types of life insurance for couples
There are three types of couple life insurance policies
- Term life insurance for couples
- Whole life insurance for couples
- Accidental death benefits for couples
The 5 Best Life Insurance Companies for couples Over 50
- Mutual of Omaha
- Haven life insurance Agency
- Principal life insurance company