Joint Term Life Insurance
Joint Life Insurance
No one wants to think about losing their life partner, but unfortunately, things like this do happen. When one partner passes away, it can be incredibly difficult for the partner left behind to cover bills and expenses, not to mention pay the premiums on their own life insurance plan. Joint life insurance can ease this financial stressor.
What Is Joint Life Insurance?
While most life insurance policies are taken out by an individual, a joint life insurance policy is something that couples take out together. Also called first-to-die insurance, the beneficiary of a joint life insurance plan is whichever partner is left behind when the other one dies. This offers protection and financial security for your family in the case that the surviving partner is not the primary income earner.
Is Joint Life Insurance Right For You?
If you’re looking for value in a life insurance plan, joint life insurance is often more affordable than two people having separate life insurance policies. Instead of paying two premiums, you and your spouse pay one premium for one life insurance policy. Benefits can still be substantial in this type of policy, but the payments made throughout your life together are not as burdensome. Contact us to receive free joint term life insurance quotes.
An added benefit of joint life insurance is that in some instances, the surviving partner is able to purchase a new life insurance policy with the age at which they attained the joint life insurance policy. This means that your children will continue to be covered once both partners have passed on. If this is not possible, insurance companies will usually still offer the surviving spouse the opportunity to purchase individual life insurance, only with the listed age as the age that they are at the time of their partner’s death.
Although no married couple expects to get divorced, sometimes it becomes best for two people to go their separate ways. In the event of a divorce, joint life insurance policies can complicate things. These policies can be difficult to split into two individual life insurance policies, but the experts at Lifetime Insurance are here to help you navigate this process and secure your best option. If you require assistance or guidance in this, the insurance brokers at Lifetime Insurance are only a phone call away, and support is available 24 hours a day, 7 days a week. We are committed to putting you first.
Get Joint Term Life Insurance Quotes
Joint term life insurance quotes are available through our online quote calculator, as well as through contacting our experienced life insurance brokers. Let us provide you with joint term life insurance quotes free of charge, and help you find a policy that fits your specific needs.
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