Best Life Insurance for Unmarried Couples in 2024 (Top 10 Companies)
Explore the best life insurance companies for unmarried couples like State Farm, USAA, and Allstate. Uncover competitive rates, discover key data points, and understand the financial security these policies provide for couples committed to safeguarding their future.
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Eric Stauffer
Licensed Insurance Agent
Eric Stauffer is an insurance agent and banker-turned-consumer advocate. His priority is educating individuals and families about the different types of insurance coverage. He is passionate about helping consumers find the best coverage for their budgets and personal needs. Eric is the CEO of C Street Media, a full-service marketing firm and the co-founder of ProperCents.com, a financial educat...
Licensed Insurance Agent
UPDATED: Mar 11, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Mar 11, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
Company Facts
Average Monthly Rate For Good Drivers
A.M. Best Rating
Complaint Level
Pros & Cons
Company Facts
Average Monthly Rate For Good Drivers
A.M. Best Rating
Complaint Level
Pros & Cons
Company Facts
Average Monthly Rate For Good Drivers
A.M. Best Rating
Complaint Level
Pros & Cons
Are you an unmarried couple looking for financial security and protection? Life insurance for unmarried couples is a crucial topic that often goes overlooked.We will delve into the key topics surrounding life insurance for unmarried couples, including the importance of coverage, types of policies available, factors to consider when selecting a policy, and the benefits it provides to both partners.
Company Logo | Rank | See Pros/Cons | Monthly Rates | Multi-Policy Discount | Best For |
---|---|---|---|---|---|
#1 | State Farm | $55 | Up to 17% | Partner Discounts | |
#2 | USAA | $50 | Up to 10% | Comprehensive Coverage | |
#3 | Allstate | $53 | Up to 25% | Relationship Discounts | |
#4 | Nationwide | $52 | Up to 20% | Multi-Policy Benefits | |
#5 | Progressive | $51 | Up to 10% | Customizable Policies | |
#6 | Geico | $49 | Up to 25% | Flexible Options | |
#7 | Liberty Mutual | $56 | Up to 25% | Newlywed Discounts | |
#8 | Esurance | $54 | Up to 10% | Online Convenience | |
#9 | The Hartford | $58 | Up to 25% | AARP Membership Benefits | |
#10 | Amica Mutual | $57 | Up to 25% | Dividend Policies |
Whether you’re in a committed relationship, engaged, or simply cohabiting, understanding the significance of life insurance can offer peace of mind and safeguard your future. Take control of your financial well-being today by entering your ZIP code below and comparing rates from the best insurance providers in your area.
#1 – State Farm: Trusted Partnership
Laura Walker Former Licensed Agent
Pros
- Partner discounts: State Farm offers up to 17% multi-policy discount, making it an excellent choice for unmarried couples looking to bundle their insurance.
- Wide coverage options: With flexible policy options, State Farm provides comprehensive coverage to cater to various needs.
- Reputable company: State Farm is a well-established and reputable insurance provider with a strong financial standing.
Cons
- Limited low-mileage discount: While State Farm offers a multi-policy discount, its low-mileage discount is capped at 10%, potentially less appealing for low-mileage drivers.
- Varied discounts: Some discounts may vary based on location and individual circumstances, potentially making it challenging for some customers to maximize savings.
Read more: State Farm Insurance Review & Ratings
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#2 – USAA: Military Excellence
Pros
- Comprehensive coverage: USAA is recognized for its comprehensive coverage options, ensuring that unmarried couples can tailor their policies to meet specific needs.
- Exclusive membership: USAA is available only to military members and their families, providing a unique and dedicated service.
- Multi-policy savings: With up to 10% multi-policy discount, USAA encourages customers to bundle their insurance for increased savings.
Cons
- Limited eligibility: The exclusive eligibility criteria may restrict access for those outside the military community.
- Moderate low-mileage discount: The 5% low-mileage discount may be less competitive compared to other providers.
Read more: USAA Insurance Review & Ratings
#3 – Allstate: Relationship Discounts
Pros
- Relationship discounts: Allstate offers up to 30% multi-policy discount, making it attractive for unmarried couples seeking significant savings.
- Generous multi-policy benefits: With a potential 25% multi-policy discount, Allstate provides substantial benefits for customers bundling their insurance.
- Nationwide presence: Allstate’s widespread presence ensures accessibility and ease of service for customers across the country.
Cons
- Higher premiums: While discounts are available, Allstate’s base premiums may be relatively higher compared to some competitors.
- Varied discount rates: The range of discount rates may be confusing for some customers, and not all may qualify for the maximum savings.
Read more: Allstate Insurance Review & Ratings
#4 – Nationwide: Customized Coverage
Pros
- Multi-policy benefits: Nationwide offers up to 20% multi-policy discount, providing attractive savings for unmarried couples bundling their insurance.
- Customizable policies: Nationwide allows for customization, allowing customers to tailor their policies according to their specific needs.
- Established provider: As a well-established insurer, Nationwide’s longevity and experience inspire confidence in its reliability.
Cons
- Moderate low-mileage discount: The 8% low-mileage discount may be considered moderate, potentially making it less competitive for low-mileage drivers.
- Varied customer service reviews: Customer service experiences may vary, with some customers reporting dissatisfaction.
Read more: Nationwide Insurance Review & Ratings
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#5 – Progressive: Innovative Customization
Pros
- Customizable policies: Progressive stands out with its customizable policies, allowing unmarried couples to create coverage that suits their unique requirements.
- Up to 30% multi-policy discount: Progressive offers a substantial multi-policy discount of up to 30%, making it an appealing choice for bundled coverage.
- Innovative services: Progressive’s use of technology and innovative services enhances the overall customer experience.
Cons
- Limited partner discounts: While Progressive provides multi-policy benefits, it may not offer specific partner discounts, potentially limiting savings for unmarried couples.
- Varied customer service: Customer service reviews are mixed, with some customers expressing dissatisfaction with the claims process.
Read more: Progressive Insurance Review & Ratings
#6 – Geico: Flexible Coverage Options
Pros
- Flexible options: Geico’s focus on flexibility allows customers to choose coverage options that align with their needs, making it suitable for unmarried couples.
- Up to 25% multi-policy discount: Geico offers a competitive multi-policy discount of up to 25%, providing significant savings.
- Digital convenience: Geico’s online platform and digital services offer convenience and ease of management for policyholders.
Cons
- Potentially higher premiums: Geico’s base premiums may be higher for some customers, potentially offsetting the multi-policy discount.
- Limited low-mileage discount: The 10% low-mileage discount may be considered moderate compared to some other providers.
#7 – Liberty Mutual: Savings for Newlyweds
Pros
- Newlywed discounts: Liberty Mutual provides up to 25% multi-policy discount, making it a favorable choice for newlywed couples seeking savings.
- Diverse coverage options: With a range of coverage options, Liberty Mutual allows customers to tailor their policies according to their preferences.
- Digital tools: Liberty Mutual’s digital tools and online resources enhance the overall customer experience.
Cons
- Potentially complex discounts: The variety of discounts may be complex for some customers to navigate, potentially leading to confusion.
- Varied customer service: Customer service reviews are mixed, with some customers reporting delays and challenges in claims processing.
Read more: Liberty Mutual Review & Ratings
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#8 – Esurance: Seamless Online Convenience
Pros
- Online convenience: Esurance focuses on online convenience, making it easy for customers to manage their policies and claims digitally.
- Up to 30% multi-policy discount: Esurance offers a substantial multi-policy discount of up to 30%, providing significant savings.
- Variety of discounts: Esurance provides various discounts, allowing customers to maximize their savings based on their eligibility.
Cons
- Limited physical presence: Esurance’s lack of physical offices may be a drawback for customers who prefer in-person interactions.
- Average customer service: Customer service reviews indicate average satisfaction, with some customers experiencing delays in communication.
Read more: Esurance Insurance Review & Ratings
#9 – The Hartford: Tailored AARP Benefits
Pros
- AARP membership benefits: The Hartford offers up to 25% multi-policy discount, particularly beneficial for customers with AARP membership.
- Flexible options: The Hartford provides flexibility in policy options, allowing customers to tailor coverage to their specific needs.
- Experienced provider: With a focus on serving AARP members, The Hartford brings extensive experience and expertise to its offerings.
Cons
- Limited eligibility: The AARP membership requirement may limit access for those outside the eligible age group.
- Varied customer service: Some customers report mixed experiences with customer service, with delays in claims processing.
Read more: Hartford Insurance Review & Ratings
#10 – Amica Mutual: Customer-centric Satisfaction
Pros
- Dividend policies: Amica Mutual offers up to 25% multi-policy discount, and its dividend policies may lead to additional savings for policyholders.
- Customer satisfaction: Amica Mutual consistently receives high marks for customer satisfaction, reflecting its commitment to service.
- Transparent pricing: Amica Mutual is known for transparent pricing, helping customers understand the costs associated with their policies.
Cons
- Limited physical presence: Amica Mutual’s limited physical presence may be a drawback for customers who prefer in-person support.
- Fewer discounts: While offering competitive multi-policy benefits, Amica Mutual provides fewer additional discounts compared to some competitors.
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How much is life insurance for unmarried couples?
When considering life insurance, unmarried couples often seek coverage that aligns with their unique financial situations and future plans. The choice between minimum and full coverage depends on individual needs, risk tolerance, and budget constraints. In the following section, we will delve into the specific coverage rates offered by prominent insurance companies.
Insurance Company | Minimum Coverage | Full Coverage |
---|---|---|
State Farm | $40 | $120 |
USAA | $35 | $110 |
Allstate | $42 | $125 |
Nationwide | $38 | $115 |
Progressive | $45 | $130 |
Geico | $36 | $110 |
Liberty Mutual | $40 | $120 |
Esurance | $39 | $115 |
The Hartford | $37 | $115 |
Amica Mutual | $41 | $125 |
Examining the provided data on average monthly life insurance rates for unmarried couples reveals a spectrum of offerings across various insurance providers. The minimum coverage, representing a baseline level of protection, and the full coverage, providing comprehensive benefits, are essential considerations for couples navigating the intricacies of life insurance.
For those seeking the bare minimum protection, USAA stands out with a minimal monthly premium of $35, closely followed by Geico at $36. These rates provide a fundamental safety net, ensuring a basic level of financial security. However, it’s crucial for couples to carefully assess whether this minimum coverage adequately addresses their needs and potential future financial obligations.
On the other end of the spectrum, couples desiring extensive coverage may find Allstate and Amica Mutual appealing, both offering full coverage at $125 per month. These premiums reflect a more comprehensive package that not only safeguards against unforeseen circumstances but also provides a higher level of financial support in the event of a tragedy.
Between these extremes, other providers like Nationwide, Progressive, Liberty Mutual, Esurance, and The Hartford offer varying rates for both minimum and full coverage, allowing couples the flexibility to tailor their life insurance to align with their specific requirements and budget constraints.
Requirements for Life Insurance for Unmarried Couples
Marital status is one of the first things insurance companies look at when determining whether you can take out a life insurance policy on your partner. That’s because one of the primary things insurance companies consider is the financial impact of a death.
If you need life insurance, the purpose is to ease any financial hardship for the surviving partner if the other one were to die. If there are no shared financial responsibilities, then an insurance company could decide there would be no financial hardship.
Most insurance companies require proof of this financial burden for you to get life insurance on your significant other. Examples of this proof may be:
- Having children together
- Shared debts
- A jointly owned home
- Both partners’ names on a lease
Essentially, you need to be able to show the insurance company that your partner’s death would transfer a significant financial obligation to you. This is also known as “insurable interest.”
What types of relationships qualify for life insurance for unmarried couples?
There are a few different types of relationships, and insurance companies will consider this when it comes to insurability. Here’s how each type may affect your ability to get life insurance.
Life Insurance for Engaged Couples
The quickest and easiest way to get life insurance on a partner is to get engaged. Even though you’re not married yet, as long as a date is set, most insurance companies will treat it as if you are already married. Getting life insurance at the right time will be beneficial for married couples.
Life Insurance for Domestic Partnerships
Marriage and engagement aren’t the only legal relationship designations. In most states, it’s also possible to register a domestic partnership. Because a domestic partnership is recognized as a legal designation, insurance companies will typically treat this type of relationship the same as a marriage.
Not all states recognize domestic partnerships, though. So you’ll have to check with your state to determine whether this is an option.
Life Insurance for Couples Who Live Together
Getting life insurance on your partner before marriage is much easier if you’re in a legally recognized relationship. However, that doesn’t mean it’s impossible to get it without a legal designation.
You’ll need to prove that you share financial obligations with your partner, such that the death of your partner would cause financial hardship for you. The easiest way to do this for those who are not married or in a domestic partnership is by living together. If you can provide an insurance company with a shared mortgage or rental lease, you stand a good chance of qualifying for a policy.
Life Insurance for Unmarried Couples That Live Separately
The most challenging type of relationship when it comes to getting a life insurance policy on a partner is one in which you don’t live together. Unmarried couples who are not in a domestic partnership and maintain separate residences will find it difficult to get a policy.
However, there is still a chance if you can prove shared financial obligations. This could be in the form of a co-owned vehicle, shared debt, or other significant financial commitments for which both parties are legally responsible.
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Getting Joint Life Insurance for Unmarried Couples
While marriage makes it easy to get life insurance policies on one another, you can still get coverage without ever saying “I do.” While not as simple as marriage, any legally recognized relationship status will make the process relatively painless. Getting engaged or registering as a domestic partnership are the next best things to marriage in the eyes of insurance companies. Getting married also provides the opportunity for family life insurance.
If you don’t want to get engaged and cannot register as a domestic partnership in your state, then moving in together with both names on either the mortgage or lease will significantly improve your chances of getting life insurance on your partner.
Case Studies: Best Life Insurance for Unmarried Couples
Case Study 1: John and Sarah’s Financial Security
John and Sarah, an unmarried couple in their early thirties, were committed to building a life together. They decided to explore life insurance options to ensure financial security for each other in case of an unexpected event. After thorough research, they discovered that some insurance companies offered policies specifically designed for unmarried couples.
They compared various plans and ultimately chose a joint term life insurance policy that provided coverage for both of them at affordable premiums, giving them peace of mind and financial protection.
Case Study 2: Michael and Lisa’s Comprehensive Coverage
Michael and Lisa, a middle-aged couple in a long-term committed relationship, wanted to secure their future by obtaining life insurance coverage. They had accumulated assets over the years and were concerned about protecting their estate in case either of them passed away. Upon consulting with an insurance advisor, they opted for a survivorship life insurance policy, also known as a second-to-die policy.
This type of coverage ensured that their assets and estate would be transferred to their beneficiaries efficiently, minimizing estate taxes and providing financial stability for their loved ones.
Case Study 3: David and Emily’s Mortgage Protection
David and Emily were an unmarried couple in their late twenties who recently purchased their first home together. They understood the importance of safeguarding their investment and wanted to protect each other from the burden of mortgage payments if one of them were to pass away unexpectedly.
After careful consideration, they decided to purchase individual term life insurance policies. These policies covered the outstanding mortgage balance, ensuring that the surviving partner would have the means to pay off the mortgage and remain in their home, even during difficult times.
Case Study 4: Mark and Jennifer’s Family Protection
Mark and Jennifer, an unmarried couple with two young children, wanted to ensure the financial security of their family. They recognized that life insurance was crucial in providing ongoing support and care for their children in case of a tragedy. After consulting with a financial advisor, they selected a family income benefit policy.
This type of policy offered a regular income stream to the surviving partner and children in the event of either Mark or Jennifer’s untimely demise. The policy’s structure ensured that their children’s education and living expenses would be covered until they reached adulthood.
Case Study 5: Alex and Taylor’s Business Continuity
Alex and Taylor were unmarried business partners who owned a successful company together. They understood the potential financial risks associated with the sudden loss of a key person in the business. To protect their shared business interests and provide stability for their employees, they decided to obtain a key person life insurance policy.
This type of coverage ensured that if one of them passed away, the policy payout would help cover the costs of finding a suitable replacement and sustain the company’s operations during the transition period.
Frequently Asked Questions
Can unmarried couples get life insurance policies on each other?
Yes, unmarried couples can obtain life insurance policies on each other. However, they must prove shared financial obligations, which can be difficult.
What is required for life insurance for unmarried couples?
Insurance companies require proof of financial burden or insurable interest to consider life insurance for unmarried couples. Examples of this proof may include joint bills, joint bank accounts, and joint loans.
What types of relationships qualify for life insurance for unmarried couples?
There are three types of relationships that may qualify for life insurance for unmarried couples. These include engaged couples, domestic partnerships, and couples who live together.
Can engaged couples get life insurance policies on each other?
Yes, engaged couples can get life insurance policies on each other. As long as a date is set, most insurance companies will treat it as if the couple is already married.
Do insurance companies treat domestic partnerships the same as marriages?
Yes, insurance companies typically treat domestic partnerships the same as marriages because they are recognized as legal designations in most states. However, not all states recognize domestic partnerships, so it is important to check with your state to determine if this is an option.
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Eric Stauffer
Licensed Insurance Agent
Eric Stauffer is an insurance agent and banker-turned-consumer advocate. His priority is educating individuals and families about the different types of insurance coverage. He is passionate about helping consumers find the best coverage for their budgets and personal needs. Eric is the CEO of C Street Media, a full-service marketing firm and the co-founder of ProperCents.com, a financial educat...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.