Joint life insurance covers two people under one policy, typically couples who are married or in a civil partnership. It pays out when the first person dies, providing financial protection for the surviving partner.
With one policy and one premium, joint life insurance is more cost-effective than taking out two separate policies. It's ideal for couples with shared financial commitments like a mortgage or children.
Our comparison service helps you find the best joint life insurance quotes from over 50 UK insurers, with cover from just 17p per day.
Joint life insurance is a type of life insurance policy that covers two people - usually a married couple or civil partners - under a single policy.
Instead of taking out two separate policies, you have one policy with one premium that covers both of you.
Key features:
Covers two people under one policy
Single monthly premium (cheaper than two separate policies)
Pays out when the first person dies
Policy ends after first claim (no second payout)
Typically 20-30% cheaper than two single policies
Available as level term, decreasing term, or whole of life
Tax-free payout to surviving partner
With over 40% of all UK life insurance policies being joint cover, it's a popular choice for couples with shared financial commitments.
How does joint life insurance work?
Apply together: Both partners complete one application with their health and lifestyle information
Choose your cover: Decide on the cover amount and term (e.g., £300,000 for 25 years)
Pay one premium: Make regular payments to keep the policy active (typically monthly)
First death payout: When the first person dies, the surviving partner receives the full payout
Policy ends: After the first claim, the policy terminates with no further cover
Important: Because the policy only pays out once (on first death), the surviving partner will need to take out new cover if they want continued protection. This new policy will likely be more expensive due to increased age and potential health changes.
Who needs joint life insurance?
Perfect for Joint Life Cover
Couples with a joint mortgage: Ensure the surviving partner can pay off or continue mortgage payments
Married couples and civil partners: Protect each other from financial hardship if one partner dies
Parents with young children: Cover ongoing costs like childcare, education, and living expenses
Couples with shared debts: Ensure loans, credit cards, and other debts can be cleared
Families on a budget: Save money with one policy instead of two separate policies
When separate policies might be better:
- Significant age gap between partners (premiums based on older person)
- Major health differences (joint policy priced on less healthy partner)
- Want cover to continue for survivor after first death
- Planning to separate or divorce
Joint life insurance vs separate policies
Joint vs Separate Life Insurance
Feature
Joint Life Insurance
Two Separate Policies
Number of policies
One policy
Two policies
Cost
20-30% cheaper
More expensive
Payouts
Pays once (first death)
Pays twice (if both die)
Premium
One monthly payment
Two monthly payments
After first claim
Policy ends
Other policy continues
Pricing
Based on both partners
Individual pricing
Flexibility
Less flexible
More flexible
Both options provide tax-free payouts and terminal illness cover.
Joint policy: £25/month - One policy, pays out once
Two separate policies: £35/month - Two policies, both could pay out
Joint life insurance saves £120/year but only pays out once. Separate policies cost more but provide two payouts if both partners die during the term.
Types of joint life insurance
Joint Policy Options
Joint level term life insurance: Fixed payout amount throughout the term. Best for interest-only mortgages or general family protection
Joint decreasing term life insurance: Payout reduces over time to match repayment mortgage balance. Cheapest option for mortgage protection
Joint whole of life insurance: Lifetime cover that guarantees a payout. More expensive but ensures inheritance or funeral cost coverage
Joint critical illness cover: Pays out if either partner diagnosed with a serious illness. Can be added to life insurance
Most couples choose joint level term or decreasing term insurance to protect their mortgage and provide for their children.
Frequently Asked Questions
Is joint life insurance cheaper than two separate policies?
Yes, joint life insurance is typically 20-30% cheaper than taking out two separate policies. However, it only pays out once (when the first person dies), whereas two separate policies could both pay out if both partners die during the term.
What happens to the surviving partner after a claim?
After the first death claim is paid, the joint policy ends and the surviving partner has no further cover. They would need to take out a new policy if they want continued protection, which will likely cost more due to increased age and potential health changes.
Can unmarried couples get joint life insurance?
Yes, most insurers offer joint life insurance to unmarried couples who live together, including cohabiting partners and those in long-term relationships. Some insurers may require you to live at the same address.
Can we split a joint policy if we separate?
Joint life insurance policies cannot be split into two separate policies. If you separate or divorce, you'll need to cancel the joint policy and take out two new individual policies. Any premiums paid into the joint policy are not refundable.
Who pays more - joint or individual policies?
Joint policies are priced based on both partners' health and age, typically using the older or less healthy person's risk profile. If one partner is significantly older or has health issues, two separate policies might sometimes work out cheaper overall.
Does joint life insurance cover critical illness?
Joint critical illness cover can be added to joint life insurance. This pays out if either partner is diagnosed with a serious illness like cancer, heart attack, or stroke. Like life cover, critical illness pays out once (on first diagnosis) and the policy then ends.
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