Dual or Joint Life Insurance – Which is best?

Sarah called during the week wondering whether she should choose dual or joint life insurance.

I might as well have been talking double Dutch.

I, stupidly, had assumed Sarah knew the difference between dual and joint life cover.

Of course, she didn’t, why would she?

So should you choose dual or joint life insurance?

• Joint cover is insurance on two people but a claim is only paid out on the first death. If one person dies, the policy ends.
• Dual cover is insurance on two people but a claim can be paid on both deaths. If one person dies, the policy continues in the name of the survivor.

When it comes to dual or joint life insurance I always recommend dual cover.

How much does dual life insurance cost?

You pay a little extra every month…but you get twice the amount of cover.

Let’s compare two quotes:

• Sarah: Non-Smoker, born on 26/01/1977
• John : Non-Smoker, born on 26/01/1977
• Life Insurance: Joint cover of €250000, over 25 years, paying Monthly
• Serious Illness: No cover
• Inflation Protection: No
• Continue Cover: No

Over to you…

As you can see, you pay just a little extra for twice the amount of cover when you choose dual life insurance instead of joint.

Hope this clears things up.

You can quote for dual or joint life insurance using our simple life insurance quote calculator.

If you have any questions, please complete the short form below.

Read next | What’s the difference between accelerated and additional serious illness cover?

Nick McGowan
lion.ie | making life insurance easier