Protective Insurance, Legal & General, and SBLI offer the best life insurance for married couples based on MoneyGeek's analysis.
Find the best policy for you and your spouse below.
Updated: December 8, 2025
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Protective Insurance ranks first for best whole and universal life insurance, while Legal & General tops the list for term life insurance in MoneyGeek's analysis of major insurers. SBLI offers the best option for married seniors.
Most couples benefit from separate policies that align coverage with each spouse’s income and debts.
Term life insurance often provides the best balance of affordability and financial protection during key working years.
Permanent life insurance supports long-term planning for couples focused on estate goals and asset building.
Senior couples can access coverage from insurers that accept older applicants, including those offering eligibility up to age 75 or 80.
As a married couple, you’re likely managing combined expenses, shared savings goals, and evolving insurance needs together. Many married households face these same financial planning challenges that change over time.
Protective, Legal & General and SBLI stand out through their pricing, financial strength and flexible policy designs.
Whole and Universal | Protective Insurance | Whole:
| Whole:
$2,922 (F) | 5 |
Term | Legal & General | $38 (F) $47 (M) | $457 (F) $566 (M) | 4.7 |
Seniors | SBLI | $304 (F) $429 (M) | $3,647 (F) $5,134 (M) | 4.7 |
Rates are based on MoneyGeek's analysis of sample profiles for nonsmoking adults with $500,000 in coverage. Rates shown are estimates. Actual rates may vary based on individual circumstances, health, location, and insurer underwriting.
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Life insurance helps couples manage shared financial responsibilities and future planning. Policies can replace lost income, protect savings, reduce debt burdens and support shared goals such as retirement or estate planning. Selecting the right coverage starts with reviewing your combined budget, income sources and long-term priorities.
Life insurance provides financial protection if one spouse dies. Couples rely on it to replace income, cover mortgages or other debts and support children’s expenses. Some also use it to offset final costs, fund college savings or maintain retirement plans that depend on shared income.
Life insurance also helps the surviving spouse keep long-term commitments on track without major financial strain. This makes it a foundational part of financial planning for many couples.
Couples can choose joint coverage or separate individual policies. Each option aligns with different budgeting priorities and planning timelines.
Joint life insurance covers both spouses under one contract. It works for couples who share financial responsibilities, even when their health histories differ. These policies fall into two types:
Joint policies typically cost less than two separate permanent policies but provide only one death benefit payout, which may not fully replace both spouses' financial contributions.
Individual life insurance gives each spouse full control over their own policy. This structure offers flexibility because each partner can select term or permanent coverage based on their income, health and long-term financial plans.
Most married couples buy term, whole and universal life insurance based on coverage length and whether they want cash value growth.
Number of Policies | One policy covers both partners | Each partner has their own policy |
Payout Structure | First-to-die or last-to-die payout | Each policy pays its own death benefit |
Best For | Couples with shared financial obligations or estate goals | Couples with different incomes, ages, debts or health needs |
Cost | Often costs less than buying two separate permanent policies | Pricing depends on each partner’s age, health and coverage amount |
Flexibility | Limited customization since both partners share the structure | High flexibility for coverage levels, policy types and riders |
Underwriting | Both partners’ health profiles affect approval | Underwriting reflects each partner individually |
Riders | Fewer rider options | Wide range of riders available for each spouse |
Changes After Divorce | Complex to modify or separate | Easy to maintain, update or replace |
Couples may prefer separate policies when income levels differ, health conditions require different underwriting or long-term goals don’t align. A licensed agent can provide guidance for complex needs, especially when deciding between term and permanent coverage or when evaluating joint life insurance structures.
Life insurance needs change as couples progress through different life stages. Newlyweds may focus on debt and income replacement, while older couples often plan for estate needs and health-related costs. Regular reviews help couples match each policy to current expenses, savings goals and household responsibilities.
Common riders help couples expand or customize benefits, such as adding child coverage or accessing funds early after a medical event.
Accelerated death benefit | Access part of the benefit after a terminal diagnosis |
Waiver of premium | Pauses premium payments during a qualifying disability |
Child term rider | Adds low-cost protection for children |
Spousal rider | Extends limited coverage to a spouse under the same policy |
Accidental death benefit | Provides additional payment if death results from an accident |
Guaranteed insurability | Allows additional coverage purchases at major life events without a new medical exam |
Return of premium | Refunds premiums if the policyholder outlives the term |
Buying life insurance starts with calculating how much financial support each spouse depends on. Couples should review mortgage balances, shared debts, childcare expenses and retirement goals to determine how long coverage should last and how much income needs replacing.
After determining life insurance coverage needs, decide whether joint or separate coverage fits your goals. Term insurance supports shorter needs such as raising children or paying a mortgage, while permanent life insurance helps couples planning for lifelong coverage, estate goals or cash value benefits.
Comparing quotes for both spouses helps identify cost differences and underwriting outcomes. Once you choose a company, complete the application, participate in required medical exams and name each spouse as a primary beneficiary. Revisit coverage after major events such as buying a home, having children or changing jobs.
Married couples often need tailored coverage that reflects shared responsibilities and long-term commitments.
Effective planning includes choosing coverage that fits your shared expenses and long-term financial responsibilities. Protective, Legal & General and SBLI offer strong value through competitive pricing, flexible terms and dependable financial strength.
Most couples benefit from separate policies tailored to each spouse’s income and future needs. Reviewing coverage after major life changes ensures both partners remain protected and aligned with their financial plans.
Couples often choose coverage equal to 10 to 12 times each spouse’s income. Debts, childcare costs and long-term goals may increase that amount.
No. You must list your spouse as the primary beneficiary on each policy. Update your designations after marriage or major life changes.
Yes. Insurers may require evidence of shared financial responsibilities, such as a mortgage, joint debt or dependents.
Most insurers don’t offer discounts specifically for married applicants, though some reduce costs when couples buy separate policies from the same company.
No. Life insurance applications require consent and signatures. Insurers also need medical and financial information that only the insured can provide.
Learn more: Can You Take Out a Life Insurance Policy on Anyone?
Individual policies remain with the spouse who owns them. Joint policies may require legal guidance to divide. Beneficiary updates should occur after divorce is finalized.
Also read: Life Insurance After Divorce
We designed this methodology to give couples clear, comparable insights into how insurers perform on cost, stability and coverage flexibility. This approach helps couples choose policies that match their stage of life, from newlywed budgeting to estate planning later in retirement.
How Our Rating System Works
We built our scoring system around factors that matter most to couples who want dependable financial protection.
What We Analyzed
We reviewed life insurance quotes across multiple coverage amounts and term lengths to understand how pricing shifts for different couple profiles. Our team evaluated financial strength ratings from AM Best to confirm long-term claims-paying ability. We examined customer satisfaction indicators from the NAIC complaint index, J.D. Power and online sentiment to understand how policyholders experience each company. We also assessed application simplicity, underwriting speed and each insurer’s product lineup to identify options that fit varied financial goals.
Sample Profile Used
Our sample reflects a profile many couples relate to: a 40-year-old nonsmoker with average weight and health ratings and a $500,000 coverage amount. This profile helps show how insurers price policies used for income replacement, mortgage protection and early family planning. Couples with different ages, health backgrounds or financial obligations may see different rates, but this sample provides a consistent baseline for comparison.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
He writes about economics and insurance, breaking down complex topics so people know what they're buying.
