Joint life Insurance

Pay less for Life Insurance

It is possible to take out joint life insurance policies which group two people under the same policy but as with most things there are several pros and cons to consider. There are a number of important things that two people considering taking out a joint policy should consider before they begin actively seeking out life insurance quotes.


Most joint life insurance policies function on a basis of ‘first death’, meaning that the policy will pay out as soon as the first person dies. It is also possible to have cover written on a ‘second death’ basis, which might suit a couple who are looking to provide for young dependents.


With a joint life insurance policy there will be one possible payout. With seperate life policies there will be the potential for two payouts so this needs to be considered when looking at life insurance quotes and what is important for your circumstances.

A number of other questions to ponder over would be: Do both potential policyholders require the same things from their life insurance?  Is the relationship stable? The last point is important for two reasons; many providers will not divide a joint life insurance policy once it is set up.

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