Can you have two payouts with joint mortgage life insurance?

I am thinking of taking out joint life cover with my husband, does this plan payout twice or only once? If we took out this plan and one partner dies, what happens then?

Question asked by Karen Cooke
Compare Top 10 UK
Takes approx. 60 seconds
Type of Policy
Level of Cover
Date of Birth

Answered by Tom Conner

The purpose of joint mortgage life insurance is to pay off the loan if either partner passes away. This means that the remaining partner would have the funds to pay back the mortgage, thus allowing them to stay in the family home without the worry of having to meet potentially unaffordable mortgage repayments.

It is important to note that with joint cover the plan would payout once and then terminate. In other words, the plan would payout on the death of the first partner and then the remaining partner would have no life insurance remaining (the plan only pays out on ‘first event’).

It is possible to take out separate cover for each partner. This means that the remaining partner would still have their life cover in place if their partner were to pass away, which could be used for additional family protection. It usually costs around 10 to 15 per cent extra to have two separate plans relative to one joint policy.

joint mortgage
two plans
life insurance
This information does not constitute financial or other professional advice. You should consult your professional adviser or contact us directly on 02084327333 should you require financial advice. It is important to ensure any insurance policy you take out is suitable for your needs.
Compare Top 10 UK Insurers
  Takes approx. 60 seconds
Need help? 
Call us on 

Frequently Asked Mortgage Protection Insurance Questions

I am thinking of taking out joint life cover with my husband, does this plan payout twice or only once?...
I took out mortgage insurance with my bank alongside my mortgage but wanted to review this cover as I’ve...
I am looking to take out mortgage life assurance with critical illness protection but I am not sure which...
I have a repayment mortgage and wanted to know the which type of life insurance policy I should consider...
Need Help? Live chat now and get an instant answer from our Experts...


Our Latest Reviews
Phil Walker

Very happy with the advice I received from Jake Beale at Drewberry on my income protection. All sorted in two short easy phone calls.

George Atzemoglou

Matteo listened carefully to my requirements and came up with an insurance policy that significantly outperformed the best offer I had managed to find in the market. I am impressed by Drewberry and will of course recommend them to many of my friends!

Naomi Scroggins

Worked with me to get the right solution and was knowledgable and understanding. Felt like I was in very good hands!

We are rated 4.9/5 based on 1273 independent client reviews.
To read more of our independent client reviews click here →
4.92 / 5 Average
1316 Reviews
Overall Rating
Very helpful throughout the process!
Overall Rating
Rauri helped me to make the right decision and gave me excellent advice. Thank you!
Overall Rating
Fast easy end efective
Overall Rating
Very pleased with the service from Sam. No pushy sales talk, just good informative and helpful advice.
Overall Rating
Informative and quick to communicate