It is important to secure a life insurance policy in order to protect your family and loved ones in the event of your passing. There are numerous options out there but here at Unity Life, you will receive first class advice and plans that suit your situation. We provide joint life insurance to couples or two people who share responsibilities.
What is Joint Life Insurance?
This particular policy is awarded to two people in a relationship or those who share responsibilities, such as raising children. If you undertake this plan, the insurance will cover both yourself and your partner, and will pay out if one of you dies while the plan is in existence. The aim of taking out life insurance is to make sure that your dependents do not struggle financially.
When it comes to families, usually both parents shoulder the financial responsibility, and if one were to pass away, losing that income could be detrimental. Having joint life insurance serves as protection if one individual in a couple dies, easing the financial burden on their partner.
You will decide how much of a pay out would be needed to cover your joint financial obligations of both of you. This tends to include mortgage repayments and the cost of looking after children or other family members.