Feefo Platinum Trusted Service Award 2024
Free £100 Gift Card Offer
Our logo

PROTECTION PROMISE - 100% Conditions Covered

Our Insurance Partners

Sign up for our newsletter

Stay in the loop about all the latest news, exclusive offers, and fantastic discounts. We promise it's spam-free!

Joint life insurance

If you are married or in a committed relationship, you might decide to take out life insurance together rather than having two separate policies.

Joint life insurance can be appealing for many reasons, the main one being that it is often lower priced than single policies. You also have the benefit of only having to fill out one application and only having one monthly payment to manage.

Life insurance can provide your family with vital financial protection and security. This safety net can give you and your partner peace of mind, knowing your loved ones will be well cared for when you’re no longer around.

Five Stars

Rated "Excellent" 5 out of 5

"This company went above & beyond to get me cover even though I have MS, I am very happy I managed to get cover, Amazing staff, Dean went above & beyond, I highly rate this company."

by Elizabeth Turner-Long - 9th August 2023

Joint life insurance is a type of life insurance policy that will cover two people rather than one. This cover is most often used by people who are married or in serious long-term relationships.

If you have shared responsibilities such as an outstanding mortgage or you have children together, it can make sense to also share your life insurance policy.

It is good to consider though whether one of you may need more cover than the other, as you will both receive the same amount of cover with a joint policy.

In some cases, two single policies can be a better choice. If you are unsure what is the best option, it is worth speaking to an experienced insurance specialist who can advise you.

Can you get joint life insurance?

YES – joint life insurance is readily available through a range of excellent insurance companies, with both high street and specialist companies offering this insurance product.

Life insurance is the BEST way to protect your home and family, with the payout from a policy being able to be used for costs such as:

  • Mortgage and rent
  • Funeral costs
  • School fees
  • Repayment of debts
  • And more…

We have access to a wide range of policies through our specially chosen insurance partners, meaning we can compare the best joint life insurance cover available to you.

Can we get joint life insurance not married?

YES – you do not need to be married to take out a joint life insurance policy.

If you are not married though, you should assess how likely it is your relationship will last long term. If you need to cancel your policy due to a separation, it can cost more to put a new one in place.

What happens to joint life insurance after divorce?

According to the Office for National Statistics, there were 113,505 divorces granted in England and Wales in 2021.

Of course, you never go into marriage expecting to split up, but it is worth considering what can happen with a joint life insurance policy after divorce before applying.

You can cancel the policy and each take out new ones, but these will likely now be at a higher cost, due to being older than when the first policy was put in place.

Joint life insurance first to die

One important thing to remember with joint life insurance is that in most cases the policy will pay out after the first partner passes away. This is known as a ‘first death policy’.

While this pay out can offer much needed financial support to the surviving partner, their cover will then end. They will then need to arrange a new policy through the same provider or a new one.

With some policies, you can arrange it so that the policy will only pay out after the second partner dies. These policies are usually more useful for helping your loved ones to avoid expensive inheritance taxes (IHT), especially if your policy is kept separate from your estate via a trust.

There are several great benefits of joint life insurance policies. These include:

  • Lower cost option than two single policies
  • One application rather than two separate ones
  • Only one monthly payment to manage
  • Choice of when policy pays out (after the first partner dies or both)
  • Good if you both need cover for the same amount of time (e.g. to cover a mortgage)

Although there may be an ‘average’ cost of life insurance, how much a joint life policy will be can vary massively for many reasons.

The cost of any life insurance policy can be affected by various factors. Things that can affect the cost of your joint life insurance policy include:

We can help you make sure you are choosing the right provider to best suit your background, as every provider has different underwriting philosophies. Certain insurers will simply be better suited to cover people with specific medical conditions for example.

It is also key to consider how much cover you need, as it can be worth paying a small amount more for cover that is far more extensive. Think about the costs that your income would usually help cover for example:

  • Mortgage or rent payments
  • Debts
  • Household bills
  • School fees

YES – in most cases, joint life insurance will be lower priced than two single policies (compared to average life insurance costs).

If you both need cover and you have a more limited budget, joint life insurance can be a good option.

Joint life insurance vs single life insurance

If you and your partner are both considering putting life insurance in place, you may wonder whether joint or separate life insurance will be the best choice.

There are pros and cons to both single and joint life cover that need to be thought about before applying. A joint life insurance policy can be far more cost effective for some people, but two policies will equal two separate pay outs for your loved ones.

Which policy type is the most appropriate choice will depend on your own priorities and circumstances.

Find the best joint life insurance policies

The key to finding the best policy is to speak to an advisor who can help you to assess the cover you need and what options are available.

There is a huge range of insurers and policies available on the market, so it can understandably be confusing to know where to start when looking for the right cover.

Our trained expert advisors can compare hundreds of joint life insurance policies easily, to find the one that is the best fit for the level of cover you need and your budget.

Often, you will have the option of adding additional cover to your life insurance policy. Critical illness cover can be a brilliant extra policy to have in place, providing a tax-free lump sum if you were to be diagnosed with a serious illness.

Critical illness cover can be available for joint policies as well as for single policies. Critical illness insurance is also available as a joint product when bought separately to a life insurance policy.

With most joint life insurance policies, the life cover will expire once the first partner has passed away, but it can be possible for the critical illness cover to remain in place for the remaining partner.

Joint mortgage life insurance

When you have a mortgage, it makes sense to put extra protection in place to ensure your loved ones will never struggle to afford the repayments.

It is possible to get joint decreasing term life insurance (also known as mortgage life insurance) to protect your home and the amount of cover will get lower as the amount left on your mortgage decreases.

If you and your partner share responsibility for the mortgage, it can make sense to also share the protection you have in place to cover it.

You may not have a mortgage, or you do but you do not want your cover to decrease over time. Level term life insurance could then be a better choice for your family, as the amount of cover will stay the same throughout the policy term.

Joint whole life insurance

If term life insurance doesn’t seem right for you and your partner, joint policies are also available with whole of life cover.

Whole of life insurance sounds like exactly what it is – it will cover both of you indefinitely rather than having a set end date. Your family will receive a guaranteed cash lump sum payment and this cover is very comprehensive.

Joint over 50 life insurance

There are life insurance policies that are designed specifically for people over the age of 50. These policies can offer excellent additional benefits including 24/7 online GP consultations, private prescriptions, accidental death cover and more.

Our team can help you find the best policies on the market for joint life insurance over 50, quickly and hassle free.

Learn more about OVER 50’S LIFE INSURANCE.

Compare joint life insurance quotes

Our friendly life insurance specialists can run a quick and easy joint life insurance comparison, to find you excellent cover with customer service we pride ourselves on.

As people with families and responsibilities ourselves, we know how vital it is to have the right protection in place. We are constantly searching the market, to make sure we are providing our customers with the best options for cover with a range of prices to suit any budget.

Useful resources

Citizen’s Advice – Sorting out money when you separate

Citizen’s Advice – Living together and civil partnership

Gov.uk – Marriages and civil partnerships in England and Wales

Sign up for our newsletter

Stay in the loop about all the latest news, exclusive offers, and fantastic discounts. We promise it's spam-free!

Open chat
How can we help?
Scan the code
Welcome to iam|INSURED 👋

Please feel free to connect with us on WhatsApp so we can help you and answer your questions.

Click “Open Chat” to start.