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Joint Term Life Insurance

Joint term life life insurance policy is usually set up to payout on first death. That means that if either of the policy holders should die then the sum assured will be paid to the surviving person.

Joint term life insurance is therefore ideally suited to cover mortgages and family dependants with lump sum payouts.
Unlike single term life insurance, joint term life insurance cover does not need to be written in trust.
Various options exist and these can be added to make the policy more suited to your circumstances. For example the term may be set to 25 years to match your mortgage term remaining.
Another common option used when an joint term life insurance is taken out to cover a mortgage is to set the term to decreasing.
This way you will always have adequate cover to pay off your mortgage but not be paying over the odds.
We suggest shopping around when comparing joint term life insurance. We also suggest using a life insurance broker. A broker can user their expert knowledge and experience to find not only the most cost effective policy but also the most suitable for your unique circumstances.

A joint term life life insurance policy is usually set up to payout on first death. That means that if either of the policy holders should die then the sum assured will be paid to the surviving person.
Joint term life insurance is therefore ideally suited to cover mortgages and family dependants with lump sum payouts.
Unlike single term life insurance, joint term life insurance cover does not need to be written in trust.

Various options exist and these can be added to make the policy more suited to your circumstances. For example the term may be set to 25 years to match your mortgage term remaining.
Another common option used when an joint term life insurance is taken out to cover a mortgage is to set the term to decreasing.
This way you will always have adequate cover to pay off your mortgage but not be paying over the odds.
We suggest shopping around when comparing joint term life insurance. We also suggest using a life insurance broker. A broker can user their expert knowledge and experience to find not only the most cost effective policy but also the most suitable for your unique circumstances.