What is joint life insurance?
Joint life insurance covers two people under one policy and usually pays out once, on the first death during the policy term.
It can be cheaper than two separate policies, but individual policies may provide wider protection because each person has their own cover.
Key benefits
- One policy for two people
- Often used for shared mortgages
- Can be cheaper than two policies
- Simple monthly premium
Frequently asked questions
Not always. It can be cheaper, but the policy normally ends after one claim.
Yes, provided both people have an insurable interest in each other.
Some insurers allow separation options, but this varies by provider and policy wording.