life insurance

Single or joint life policies?

Helping you decide which policy's best for you

Thinking of applying for life insurance? Consider whether a joint or single life policy will suit you best – it's worth getting a quote for both options.

What's the difference?

A single life policy covers one person, and pays out the amount of cover chosen if that person dies during the length of the policy. A joint life policy covers two people for the same amount of cover, and works on what's called 'first death' basis. This means it pays the surviving policyholder the cash sum chosen if one person covered dies during the length of the policy. The policy pays out once and then ends.
If two people apply together, they could either opt for two single life policies, which would pay out twice (once on each death), or one joint life policy that pays out once on the first death.

How much can you afford?

Taking out one joint life policy may work out cheaper than having two single plans, so it's best to get quotes for both types of policy.

How much cover do you need?

Consider whether you both need the same amount of life cover. If you think you may need different amounts you can start to get an idea of which plan is more appropriate.

Continuing cover

After a claim is made on a joint life policy, the surviving person wouldn't have any cover and would need to reapply. Remember the cost of life insurance increases as you get older, so take this into consideration.

Life insurance

Our life insurance range has been specially chosen for you to help you financially protect your family and their lifestyle.