Aviva offer the option to take out their term life insurance policies on a joint basis.
With a joint life insurance policy, two lives will be covered simultaneously under one policy.
There’s only one application to fill in and you’ll only need to pay one premium - which can help you to save some money.
However, this means that there will only be one pay out (upon the death of the first partner) after which the policy will expire.
This means the surviving partner will need to secure new cover at an older age (and at a potentially higher price point).
If it’s within your budget, it can be beneficial to secure two single policies to provide two pay outs upon the death of each partner.
The table below shows the average cost of two single life insurance policies vs a joint policy.
Quotes are based on non-smokers, in good health, taking out £150,000 of level term life cover with a 20 year term:
Contact Reassured for your personalised Aviva joint life insurance quotes to find the best option to meet your needs.