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Can you have different levels of cover on a joint life policy?
Yes you can - but it may be better to buy separate policies.
Hot Topics
- Where can I find help?
- To help you find your question, we have organised our FAQ’s into relevant groups. Answers to all sorts of more general questions are found in the General Questions section.
- What is the difference between Life Assurance and Life Insurance?
- Life Assurance has an investment value but Life Insurance does not.
- What personal details do you need to provide to get a quotation for Life Insurance?
- Only your date of birth, sex and whether you're a smoker. So it's really simple to get an immediate quotation.
- Should you include Critical Illness cover on your Life Insurance policy?
- You should certainly consider taking out Critical illness cover whether you combine it into your Life Insurance policy (which is by far the cheapest way to buy both insurances) or you take out separate policies (which gives you far more protection – see below).
- Should the cover be on joint lives or separate lives?
- It may be better to buy separate policies.
Perhaps a better option?
If you are considering any Joint life insurance policy then we recommend you also cost up the alternative of having a separate policy for each person. Why? Because with a Joint policy, if there is a claim the policy will automatically terminate. The survivor is then left with no insurance cover and at an older age when it is more expensive to obtain insurance. It may even be impossible to get insurance due to deteriorating health.
Frequently Asked Questions related to the above topic.
Click below if you wish to read them: -
- You have a Repayment Mortgage. What sort of Life Insurance do you need?
- What is Life Insurance?
- Is there any investment value in your policy?
- You have a Repayment Mortgage. What sort of Life Insurance do you need?
- You have an Interest Only Mortgage. What sort of Life Insurance do you need?
- How much should you insure for?
- Should you have a “Guaranteed” or a “Reviewable” policy?
- Should you include Terminal Illness Insurance?
- Should you include Critical Illness Insurance on your policy?
- What is the difference between Critical Illness Insurance and Terminal Illness Insurance?
- Which optional extras are important for Life Insurance?
- If your insurer asks for a higher premium because you are Rated, is it worth applying to another insurance company?
- Do you have to buy your Life Insurance through your mortgage lender or mortgage broker?
- Go to menu of Frequently asked Questions about Life Insurance
- Go to menu of Frequently asked Questions about Mortgage Life Insurance
- Go to menu of Frequently asked General Questions