Happy Unmarried? You Can Still Get Life Insurance!

Oprah and Stedman. Goldie and Kurt. You and your partner.

Some people don’t want to get married and that’s fine, but don’t toss the idea of buying life insurance on the backburner just because of your marital status – or lack thereof. You want to protect you and your loved ones in the event you pass away prematurely so looking into life insurance is a common next step, especially once you have children. If you’re unmarried this could get hairy but it’s completely doable and something you should explore together.

Marital status should not be a factor when deciding if you should get a life insurance plan.

Insurable interest

Life insurance protects your loved ones financially. Find out how to prove you have insurable interest to get a policy as soon as possible.

If a couple is married, getting life insurance is a pretty standard procedure. In order to get a life insurance policy for someone you have to prove that you have ‘insurable interest’ Insurable interest is proof that you would have a financial loss or hardship if anything were to happen to the person you are trying to insure. For married couples there is legal documentation that inherently proves you have insurable interest. If you are a couple that does not want to be married you have to submit your own proof of insurable interest. Married or not, once you and your significant other share assets, either of you can take out an insurance policy and have your partner named as your beneficiary with the help of a little bit of documentation.

Different couple categories

If you are unmarried, there are 4 categories life insurance companies put you in when determining if you can get a life insurance policy:

  • Registered domestic partners: In order to fall under this category you must have a legal domestic partnership document, usually drafted with the help of a lawyer. Check your local regulations as not all states offer this.
  • Couples living together that are not domestic partners: A good example of this could be if you and your sibling bought a house 50/50. If they died, you would suffer financial loss and need a way to cover their half of the bills. 
  • Couples not engaged and not livifamily outsideng together: Sometimes a couple’s assets begin to intertwine before living together. An example of this would be taking out a loan together. These financial ties are proof of insurable interest and will allow a couple to take out a life insurance policy.
  • Engaged couples: If you have a date set, life insurance companies generally view you as a married couple which automatically gives you the right to take out a life insurance policy for one another.
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There are many options for affordable life insurance.  Find an agent who specializes in life insurance to get multiple quotes.

Not wanting to be married does not disqualify you from being able to get a life insurance policy. Life insurance policies are there to protect you in the event of a loss that would cause you a financial burden. As long as you have proof that your finances are connected to the person you are trying to insure, you can get a policy. The first thing you should do is speak to a life insurance agent that can make sure all of your insurable interest is documented and ready to go. These agents will make sure you have the right amount of coverage and that the plan is within your budget. Below we have provided top insurance companies in the nation that offer life insurance policies for unmarried couples; each can give you hassle-free assistance and the most competitive rates in the nation. Always check multiple quotes to make sure you have bargaining power and know the advantages of each company.

About The Author:
Cassandra Love

With over a decade of helpful content experience Cassandra has dedicated her career to making sure people have access to relevant, easy to understand, and valuable information. After realizing a huge knowledge gap Cassandra spent years researching and working with health insurance companies to create accessible guides and articles to walk anyone through every aspect of the insurance process.

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