RateGenius Insurance

9300 United Drive, Suite 180
Austin, TX 78758

Do I Need to Tell My Spouse If I Am Taking Out Life Insurance on Them?

If you are reliant on your spouse’s income to continue to live the lifestyle you and your children have become accustomed to, it would be wise to take out a life insurance policy. A life insurance policy provides you with money to pay funeral expenses, your bills, and maintain the lifestyle you are currently used to if your loved one passes away. At Rate Genius Insurance, serving the greater Austin, TX area, we have people ask us all the time if they need to tell their spouse they are taking out a life insurance policy on them. The answer is yes and here is why.

Consent is Required

Unless you are taking out life insurance on a minor child that you are a legal guardian of, consent is required to take out a life insurance policy on someone, including a family member, friend, or even a spouse. If the person does not want you to take out a life insurance policy on them, for any reason, you will not be allowed. There are a few exceptions to this, such as when there is a court order allowing someone to have life insurance for their kids as part of a divorce agreement, but for the most part, consent is always needed. 

Physicals May Be Required

The second reason you likely can’t take out a policy without your spouse’s permission is that physicals or medical exams are often needed to get life insurance. If your spouse doesn’t agree, they may not get a physical which can impact your ability to get a policy. 

If you want to take out a life insurance policy on your spouse in the greater Austin, TX area, and your spouse consents, come to Rate Genius Insurance. We can help you determine how much life insurance you need to maintain the lifestyle you have and put together a policy that you fits your needs. Call us now to get started or to obtain a quote.