Joint Cover

Why life insurance?

When you’re busy with today, it can seem like there isn’t enough time to prepare for what might happen tomorrow; that’s why so many people don’t consider the benefits of taking out Life Insurance until they experience a loss themselves. Get all the facts today and make plans for the people you love in case they ever have to be without you.

What is joint cover?

The term ‘Joint cover’ describes one policy which is taken out in the names of two people (usually a married, civilly married, or cohabiting couple). Joint cover can be chosen as a feature on any standard Life Insurance policy (excluding an Over 50s plan), but is commonly taken out with Mortgage Protection Life Insurance.

What are the benefits?

Repaying a mortgage is often a joint enterprise and this type of cover ensures that, no matter which partner passes away or develops an illness first, the mortgage on the couple’s home is protected.

Are there any considerations?

Many people choose not to take out two single Mortgage Protection Life Insurance policies because, if one pays out, the surviving partner is left with a decreasing sum of protection to match a mortgage they no longer have.

A Joint Life Insurance policy can pay out either when the first partner or the second dies, but it will only pay out once. After this policy has been claimed, the cover ends, at which point getting a single policy for the remaining partner could prove more difficult because they are older and may be in poorer health. Because of this, while it is cheaper to opt for a joint cover policy, it’s worth considering whether two single policies would be more suitable for your needs.

It couldn’t be simpler to call us today and get a no-obligations Joint cover life Insurance quote with Protect Line.


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