Choosing the right type of cover

‘Single life’ policies cover just one person. A ‘joint life’ policy covers two people, and you will need to decide whether the policy pays out on the first or second death, as this will determine when the policy ends.

When choosing between these options, think about:

  • Affordability – a joint life policy is usually more affordable than two separate single policies
  • Cover needs – do you both have the same life insurance needs, or would separate policies with different levels of cover be more appropriate?
  • Work benefits – if one of you has work ‘death in service’ benefit, you might only need one plan
  • Health – if your joint policy is with someone in poor health, this may increase your monthly payments

if you wish to seek independent financial advice in regards to getting life insurance, and which type of cover would suit you best. We at Hutt Professional have financial advisers with many years of experience who would be more than happy to offer you the independent financial advice that you need. If you are located in Leamington Spa or surrounding areas please do not hesitate to contact us.