Have you considered using 2 Single Life policies rather than 1 Joint Life policy?

Let’s take an example, say Jack and Jill, both 37 years of age, (non-smokers) wanting to protect their families with £200,000 of life insurance over 20 years.

A Joint policy would be £19.52 per month and 2 Single Life policies would total £22.21 per month, a difference of roughly 10% in the premium.

But what happens if there is a death?

Suppose Jack died.

Then the joint life policy would pay-out £200,000, but then finish, this would leave Jill with no life cover in force.

With 2 separate policies Jack's policy would pay-out £200,000, but Jill's policy would continue to provide cover.

In the most tragic of circumstances if both Jack and Jill died together, say in an accident, then their dependents would receive £400,000, double what the joint policy which can only pay-out once would have paid.

This situation is even more pronounced where Critical Illness cover is added to the policies as Jill would almost certainly not want to lose her Cancer cover because Jack already got a critical illness pay-out for a condition he had suffered.

It's usually worth pricing 2 Single Life policies just to check the difference vs. the Joint Life policy.