which life insurance cover the husband and wife, under one policy?

I’ll answer your second question first. Life insurance premiums depend on a lot of factors other than your age and the amount of coverage, so it’s a little difficult to provide you a precise figure. What you can do is get some life insurance quotes from an online life insurance agency such as AccuQuote. You’ll be required to provide some personal details and the website will pull out several quotes from its extensive database. That should give you an idea about how much it’s going to cost you.

I think the type of policy you’re talking about is joint life insurance policy. It can be either term life or permanent life insurance that insures the life of two or more persons. The proceeds from the policy are payable at the first or second death.

Another policy that can provide coverage to both husband and wife is second-to-die life insurance policy. It is also known as survivorship life insurance and is a whole life insurance policy. The proceeds in this case are payable at the death of the surviving spouse.

Denise at AccuQuote
Disclaimer: I work for AccuQuote and this is my personal opinion.