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Benefits of single v joint life insurance policies

Confused.com is reminding people to consider their life insurance.

Matthew Lloyd at Confused.com says, "Whether coming to the end of a relationship or entering into a new one it is vital that couples talk about life insurance protection.  In addition to ensuring they have protection it is important to consider whether to opt for two single policies or one joint policy. Taking out two single policies can be beneficial in the event that a relationship breaks down. Unlike a joint life insurance plan, two single plans are already separate. This means that your plan does not have to be cancelled in the event of a divorce, and you would not have to take out a new plan, which could be an issue, especially if you are older or have suffered health problems. It also means that should the worst happen to one partner, there is still cover in place for the other so that future dependents can be protected. Joint life insurance policies have lower monthly premiums."

 

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Benefits of single v joint life insurance policies
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