Spouse Insurance: Can a Husband Insure His Wife? - [Year]

Can a Husband Insure His Wife? Yes—With Conditions

Common Arrangements

1. Husband as Policyowner, Wife as Insured: He applies, pays premiums, controls policy. Wife consents (signs application, may need exam). Common for life insurance.
2. Husband as Policyowner, Wife as Beneficiary: He owns policy on himself; she receives death benefit.
3. Joint Policy (First-to-Die / Survivorship): Both insured; pays on first or second death.
4. Rider on Husband's Policy: Spouse term rider (convertible).

Requirements

• Insurable Interest: Automatic for spouses (love/affection/financial interdependence).
• Consent: Wife must sign application (except rare exceptions).
• Underwriting: Her health/age determine rate/class. Simplified issue options exist.
• State Laws: Community property states (AZ, CA, ID, LA, NV, NM, TX, WA, WI) may require spouse consent for beneficiary changes.

Potential Restrictions

• Policy-specific: max spouse coverage, age limits (e.g., rider to age 70).
• Financial justification: face amount reasonable for income replacement/estate needs.
• Stranger-Owned Life Insurance (STOLI) rules prevent speculative policies.

Action Steps

1. Determine goal: income replacement, debt payoff, estate tax, legacy.
2. Compare: Individual policy on her vs. rider on his vs. joint.
3. Use independent broker for multi-carrier quotes.
4. Review policy illustrations (guaranteed vs. non-guaranteed).

Yes, he can—transparently, with her consent, for legitimate need.