Term Insurance for Families

Insuring the member of the household with the largest income is of paramount importance, but that is hardly the extent of the average family's life insurance needs. Lesser-earning partners, stay-at-home mothers and fathers, and even children often require term life coverage. With family term life insurance, you can protect as many members of your household as you wish. Standard term life insurance policies for families are the most economical option for households with multiple coverage needs.

Why Family Term?

Life insurance policies typically pertain to the so-called "breadwinner" of a household, or the person with the income on which the family predominantly relies. What most consumers don't realize, however, is that partners do not have to produce a significant income to add economic value to a household. For example, a stay-at-home mother might opt for a family term life insurance policy to insure herself and her husband. It makes financial sense to include her on the policy because she provides services like cooking, cleaning, and childcare that would cost money to replace in the event of her passing. A term life family policy can fulfill both partners' coverage needs with affordable premiums.

Savings and Simplicity

When each member of a household has a separate life insurance policy, the costs can quickly add up, and the management of multiple term life policies can also become a hassle. By seeking out family term life insurance quotes on our site, you can consolidate your plans and make your premiums more reasonable in the process. Typically, life insurers will offer a generous discount on coverage when several members of a household participate in a single plan. You will also reap the benefits of having to deal with just one life insurance policy, making it easier for both your family and any other beneficiaries to keep track of your coverage.

Insuring Children

Commonly, consumers ask if family term life insurance covers the children as well as the adults of a household. Of course, it is possible for your family term life policy to extend coverage to your children, but whether you add them to your policy is up to you. As you will see when you request family life insurance quotes on our site, including your children on your policy results in only a negligible rise in premiums. Considering the attendant funeral, burial, and medical costs of the death of a child, adding your children to your family term life policy might be worth the small added expense.