Health Insurance For Younger Spouse When I Retire

Health insurance plans are very popular amongst people, and instead of buying two separate policies, many people add their spouse to their existing policy- like and add-on.

Almost 90% of people residing in the United States today have health insurance. It is a known fact that the country ranks the highest for being the most expensive in healthcare, and most people can’t afford to go on without having health insurance.

Even the basic health insurance plans cover a huge chunk of your healthcare needs and save you from financial trouble in times of emergency. 

How does health insurance work?

Health insurance plans are given out by insurance companies to cover health expenses of the insured. These plans cover medical expenses, hospital visits, treatments and surgeries, and prescriptions. Even the slightest health condition can cost you hundreds of dollars, so it is always better for you to have insurance.

A monthly premium is paid towards keeping the policy alive, and when the time comes, the money is used for the healthcare of the insured.

Often people ask if there are insurance plans for spouses as well. There are a few possibilities, let’s look at it closely.

What is Spouse Life Insurance?

Spouse life insurance, in very simple words, is the protection given to your spouse under your policy. Just like an add-on to your existing life insurance policy, a spousal/domestic partner insurance gives coverage to your spouse which is a percentage of what coverage you’re getting.

Purchasing supplemental life insurance for your spouse or domestic partner is doable, and sometimes you can also ask your employer to provide it. The coverage amount is low, up to $150,000 with premiums paid by the employer.

You may need an additional option of coverage if you feel that your spouse isn’t protected under any other source of life insurance. This way a supplemental spouse life insurance will cover your spouse as well.

Experts say that it is better to go for a private supplemental life insurance because of portability. As long as the premiums are being paid, the policy will remain in force. Usually when an employee is covered under their employer’s plan, the policy is lapsed when they change jobs. So if the spouse wants to avoid this risk, opting for a privately managed plan is probably the best option.

How to buy Life Insurance for your Spouse

There are only a number of ways to do so, and each of these is very easy. Here is how you can buy life insurance for your spouse as well:

  • Through your employer: Under the insurance policy that already covers you, you can ask your employer to make some arrangements for your spouse as well.
  • Spousal rider: On your own insurance policy, you can select the option of a spousal rider, which acts like an add-on to your policy. It will allow some percentage of your coverage to cover your spouse too.

Spouse Insurance Coverage

Usually, the coverage amount for supplemental spouse life insurance is 50% less than the originally insured person.

Your dependent’s benefit amount cannot exceed 100% of your own benefit amount. For example, if your salary is $30,000 and you select one-half times your salary in voluntary term life for yourself, you must select $15,000 or less for your spouse.

Here is a breakdown of premiums according to the age of the spouse/domestic partner.

Age Rate per

$1,000 of coverage

Under 30 $0.053
30–34 $0.063
35–39 $0.067
40–44 $0.076
45–49 $0.086
50–54 $0.136
55–59 $0.196
60–64 $0.316
65–69 $0.529
70 and over $1.057

This is how the coverage option for the spouse is determined by age.

Life Insurance Spouse Beneficiary Rules

Usually, a policyholder makes sure to add their spouse as primary beneficiary of the policy. There are certain rules to it though. If an insured person dies, and their ex-spouse is named as the beneficiary, the death benefit goes to the secondary beneficiary. And if there is no secondary beneficiary either, the amount goes to the estate. This protects current spouses from oversights.

If a policyholder names their current spouse a beneficiary, the entire death benefit goes to them. Your younger spouse can get life insurance when you die through the spousal rider. The coverage then depends, and the spouse must be at least 62 years of age.

Why should you buy Insurance on your Spouse?

Many people firstly consider themselves when it comes to health insurance, and they name their spouse as the beneficiary. But, there are good enough reasons why your spouse should have the insurance policy on their name and you named as the beneficiary.

One major reason for this is if your spouse earns more than you or is the breadwinner of the family. Insuring them would give them lifetime protection against financial drops, and if they die, the death benefit could be transferred to you or your children. And if you opt for a whole life insurance policy, you can also use some part of the cash value during their life too.

If the spouse is diagnosed with an illness, you can get their health insurance approved and have the insurance company pay for bills. If the health insurance was approved when they were young and healthy, the rate of premiums and interest will be lower, but now since the health condition has deteriorated, they’ve gotten older, they might need to pass a medical exam to be approved for the health insurance.

If you and your spouse have joint debt like a shared mortgage, are co-signers for car loans, have joint credit cards or other connected debts, you will inherit these debts yourself after your spouse passes away. A life insurance payout can help settle your spouse’s portion of those debts if you get them insured.


Rising health expenses have forced more and more people to get health insurance, and it makes sense too because it has now become unaffordable to treat sickness. In such a case, buying a separate policy for your spouse will add to your monthly expense, and for this the best way is to attach their plan to yours.

If your health insurance is paid by the employer, you won’t have to worry about the premiums each month. This is an excellent way to have two people insured under one policy. To get an even better deal, it is obviously important to shop around and see if you can find a competitive rate with premiums and the overall coverage.

If you’re losing your health insurance, the best way is to get it renewed and chances are you can do so without giving a medical exam. Know fully what your options are before agreeing on one plan. Shop around and ask for professional advice to see what health insurance plan suits you and your spouse the best.

Sandra Johnson

Sandra Johnson

Sandra Johnson was a few years out of school and took a job as a life insurance agent in California, selling coverage door-to-door for Prudential. The experience taught her about the technical components of insurance and its benefits for individuals and society, as well as the misunderstandings people often have about insurance. She has over ten years’ experience in the insurance industry, having worked as both a Broker and Underwriter, assisting clients across a broad range of industries. At Insurance Noon, Sarah diligently gathers all the required information and curates up pieces to provide meaningful insurance solutions. Her personal value proposition is to demonstrate a genuine interest in always adding value for clients.Her determined approach to guiding clients has turned her into a platinum adviser to multiple insurers.

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