| 40% of life insurance policies in the UK are joint rather than individual | Joint life insurance policies can prove problematic when a relationship breaks down | Dual life cover offers separate, flexible protection for both partners |
When you’ve already combined finances, through a joint bank account or shared mortgage, it’s natural to consider a joint life insurance policy as your next move. And you wouldn’t be alone. Forty percent of life insurance policies in the UK are joint rather than individual1.
A joint policy insures two people but typically pays out only once, usually on the first death. After the payout, the policy ends, which could leave the surviving partner without cover. For older individuals or those with health concerns, arranging new individual cover at that point may prove difficult or costly.
Joint life insurance can become complicated if the relationship changes. If you separate or divorce, both policyholders must agree to amend or cancel the cover. This isn’t always straightforward and can cause delays or friction.
In some cases, joint policies can also restrict one partner’s financial independence. Alarmingly, research2 suggests that up to 40% of UK adults have experienced some form of financial or economic abuse – life insurance should never be a contributing factor to that.
Dual life insurance may be a more adaptable option. Like joint policies, dual cover is set up with a shared application process and quote. However, unlike joint cover, each partner receives their own individual policy. That means the cover remains in place even if one person dies or the relationship ends.
What’s more, if both policyholders pass away, dual cover can lead to two separate payouts – providing more comprehensive financial protection for dependants or beneficiaries.
Whether you’re looking to put life cover in place for the first time or reviewing existing arrangements, it’s essential to understand the implications of each type of policy. From joint and dual policies to individual cover, we can help you assess which solution best fits your current needs and can adapt with you in future.
1Money Expert, 2025, 2Aviva, 2025
It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored advice and is for guidance only. Some rules may vary in different parts of the UK.