How do I take out joint life insurance?

I am currently arranging a mortgage with my partner and someone suggested taking out joint life insurance too.

Question asked by Dorothy London
Compare Top 10 UK
 Protection
Insurers
 
Takes approx. 60 seconds
Type of Policy
Level of Cover
per
month
Date of Birth

Answered by Tom Conner

Many people take out joint life insurance with a partner as they have a joint mortgage. However it is important to remember that the policy would pay out on the first event. This means that if you or your partner should pass away then the policy would pay out and then terminate. The lump sum could then be used to clear the mortgage.

Many people choose to add joint critical illness cover to their life insurance policy. This means that if you or your partner were to suffer a serious illness or injury the policy would pay out and then terminate. Where life insurance and critical illness cover is to cover a mortgage joint policies can be taken out for both level and decreasing term plans.

It is important to consider whether a joint or sole policy best meets your needs. By speaking to one of our advisers you can obtain impartial advice and quotes from a large panel of providers.

life insurance
 
critical illness cover
 
mortgage 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

 
What is the maximum period of payment with mortgage payment insurance? I have seen that most plans can...
 
Is there such a policy as interest-only mortgage life insurance? I am looking for life insurance to pay-off...
 
I have a joint mortgage with my wife but I earn considerably more than her so I only really need mortgage...
 
I am thinking of taking out joint life cover with my husband, does this plan payout twice or only once?...
Need Help? Live chat now and get an instant answer from our Experts...

Neil
Pensions

Victoria
Insurance
Our Latest Reviews
Phil Walker
07/11/2017

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
12/11/2017

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
05/11/2017

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 →
REVIEWS
EXCELLENT
4.92 / 5 Average
1316 Reviews
M
Overall Rating
Very helpful throughout the process!
A
Overall Rating
Rauri helped me to make the right decision and gave me excellent advice. Thank you!
A
Overall Rating
Fast easy end efective
A
Overall Rating
Very pleased with the service from Sam. No pushy sales talk, just good informative and helpful advice.
A
Overall Rating
Informative and quick to communicate