Skip to content

Joint life insurance

Compare deals that offer joint cover

purple umbrella

Compare life insurance quotes from 14 leading providers*

We’re dedicated to helping you get the right policy, to give you and your family the peace of mind you deserve. That’s why we work with 14 leading life insurance providers, including:

company logo for lv-v1company logo for hsbc-110company logo for Post-Office-110company logo for aig-newcompany logo for virgin-money-newcompany logo for royal-london-110-69company logo for churchill-110-2

*Accurate as of December 2022

What is joint life insurance?

Joint life insurance is a type of a type of life insurance that can cover two people under the same policy. If either person passes away or is diagnosed with a terminal illness, the policy will pay out a lump sum to the other partner or beneficiary. This can make life insurance cheaper and easier to manage for two people because you only need to pay one set of premiums. 

Once your policy has paid out to your beneficiary or into a trust, your cover will end.

couple on a laptop

How does joint life insurance work?

  • Purchase a joint policy

    Providers will need to get some basic information about you and your partner to take out a policy that covers both of you

  • Make a claim after first death

    We offer quotes for ‘first death’ policies, which means that a claim can be made on your life insurance when the first partner passes away 

  • Your benefit can support your loved ones

    Once your policy has paid out, your life insurance policy will expire, and the lump-sum can be used to support your partner and family 

What types of joint policy can I get?

We offer two types of joint life insurance for you to choose from – level and decreasing life insurance. Both types have their benefits and serve different purposes. 

  • Level term

    Level term life insurance has a fixed benefit that stays the same for the whole term of your policy. No matter when your partner claims, they will receive the whole amount of your life insurance pay-out. Your premiums are also fixed at the start of your policy, so there is no worry that your policy will get more expensive as you age. 

  • Decreasing term

    Decreasing term life insurance is designed to protect a repayment mortgage or a loan that you plan to pay off over time. The pay-out of this policy decreases over time to match the rate your loans are paid off. This is usually a cheaper type of life cover. Once your benefit has decreased to zero, the policy will end. 

Can I add critical illness to my joint life insurance policy?

You can add critical illness cover to your standard joint life insurance policy, which will cover you for certain critical illnesses. When you make a claim for critical illness, you or your partner will receive the full benefit amount of your life insurance policy.  

If you have a combined life and critical illness insurance policy, your policy will end after you make a claim for critical illness or death. Afterwards, you will need to take out a new policy to resume your life insurance coverage.

Choose joint life insurance with MoneySuperMarket

At MoneySuperMarket, we've made it our mission to help you Super Save on your insurance. Save yourself time and money by comparing joint life insurance quotes with us.

  • Fast cover

    Getting cover for you and your partner is quick and easy. 80% of our customers have the option to buy cover right away for the quoted price without medical exams or additional documentation

  • Deals tailored to you

    By answering a few questions, we can narrow down your search for the right policy, and we look at the top UK life insurance providers to help you find great deals for policies tailored to you

  • Super Save with us

    Over the last 3 years, MoneySuperMarket have helped over 125,000 customers find great deals1 on their life insurance. Why not get quotes from us and see how much you could save?

1MoneySuperMarket sales from 2019 - 2022

Pros and cons of joint life isnurance

Choosing between a single or joint life insurance policy requires you to think a bit more about the benefits of both choices. Joint life can be a great choice for a young, two-income couple, but it might not always be the best option out there. 

  • Tick

    Pros

    • Easier to manage premiums 

    • Usually cheaper than buying two separate policies 

    • Both parties covered for the same amount

  • Cross

    Cons

    • Only pays out once and cover ends after the first claim 

    • Most policies can’t be split if your relationship ends 

    • Partners in poor health can make joint insurance more expensive 

How much is joint life insurance?

The cost of life insurance depends on a lot of different factors: 

  • Age

    As you get older, life insurance gets more expensive. That’s why you can often save money on a policy by buying when you’re younger and locking in your premiums

  • Health

    Providers consider people with previous or existing health problems to be a high risk to insure and so tend to charge them more for life insurance 

  • Occupation

    Life insurance is likely to be more expensive if you have a dangerous occupation. The same can be said if you have dangerous lifestyle and hobbies 

  • Smoker status

    Smoking is a dangerous habit that can have serious effects on your health. For that reason, providers will usually charge you more if you smoke 

  • Cover

    The level of cover you choose is the most important factor in your policy price. The more cover you want, the higher your premiums

  • Policy type

    Different policy types are priced differently. Decreasing term policies tend to be the cheaper option but might not be the right choice to meet your needs

How much cover do I need?

Finding the right balance between cover and cost can be a challenge. Over insuring yourself can lead to an unnecessarily expensive policy while under insuring yourself can put your partner at risk of not getting enough support from your policy.  

If you’re not sure how much cover you need, why not use our handy life insurance calculator? To use it, you simply need to answer a few questions about your finances, and we’ll give you a recommendation for the right amount of life insurance cover.

calculator illustration

Compare joint life insurance with MoneySuperMarket

  • Tell us about yourself

    We’ll ask you a few questions about you and your partner and your policy choices to help us find policies that meet your requirements 

  • We'll fetch our best quotes

    Our quotes come from our panel of top UK life insurance providers. Browse our deals to find the cover you want for the best price 

  • Choose the deal you want

    Once you’ve found the right policy, a click will take you straight to your chosen provider’s website for you to finish your application

If you are a young couple in good health, joint life insurance is likely to be cheaper than buying two single policies. 

However, in instances where one partner is a higher risk to insure – being considerably older or with a history of medical issues – a joint policy might end up being more expensive than two single policies. 

It’s also important to remember that joint policies will only pay out once despite covering two people. So, buying two single policies may sometimes be worth the extra cost to provide an additional benefit to support any children or loved ones. 

When applying for a life insurance policy, there are a few questions that you’ll need to answer. These include: 

  • The full names of you and your partner 

  • Your date of birth 

  • Your occupation 

  • Your medical history 

  • Smoker status 

  • Your mortgage value (if you’re applying for mortgage life insurance

 It’s important that both you and your partner answer these questions as honestly and accurately as possibly. Failing to do so may put you at risk of your claim being denied if your provider suspects that you have provided fraudulent information.

If you take out your policy as a married couple and then divorce, your insurance will still cover both parties unless you contact your provider to change the terms manually.  

If you and your partner separate during the term of a joint life insurance policy, the cover can’t be divided. You can ask your insurer to split the policy into two separate policies, but that is done at their discretion. 

Your insurer will no doubt apply terms and conditions to separating a policy. For example, they may ask you to inform them within six months of the separation. Be prepared for your monthly premiums to increase, and you may well be asked to update your health and lifestyle information. 

Alternatively, in the case of separation, many providers offer the choice for one party to take over the policy. From then on, they will be solely covered by the policy, and it will be up to them to pay the premiums.

You can cancel your life insurance policy at any time by contacting your provider. If you do so, your premiums won’t be returned, and some providers may charge a cancellation fee. 

MoneySuperMarket gives you lots of clever ways to save a lot, by doing very little.

So how do we make our money? In a nutshell, when you use us to buy a product, we get a reward from the company you’re buying from.

But you might have other questions. Do we provide access to all the companies operating in a given market? Do we have commercial relationships or ownership ties that might make us feature one company above another?

We commit to providing you with clear and informative answers on all points such as this, so we have gathered the relevant information on this page.