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Should You Go for a Single Insurance Policy for Two or Individual Policies?

Everybody cares for their loved ones and also wants to provide protection till eternity. But nobody knows the future and so it is important to get insured doubly and get covered under 1 plan for future security.

The category of joint life is a comprehensive category that covers 2 lives under 1 policy. A good chance is given to those who nominate the names of their wives as joint policyholder. It will be much more advantageous than the individual life policy. It covers 2 lives and charges just 1 premium.


The joint life insurance policies provide benefits on the death of any of the partners. In past, when an individual wanted to save money on premiums, then they used to draw or get insurance to the main breadwinner or key person of the family but now this doesn’t work. Therefore, for this reason there should be measures for ensuring ample of covers for whatsoever may happen.


There are many joint life policies and a person should always buy one that suits the needs. The benefits of some policies are after the either of policyholder’s death while some have benefits in parts of 1st partner’s death etc. Most of the policies are endowment or money-back types.

Joint policies are very convenient and the cost of covering 2 people is cheaper instead of 1. It should be noted that the coverage levels and cost that comes with the insurance cover varies based on the plan chosen. If only 1 person is covered then the other partner gets no benefit. However, if both the parties are insured then both the partners are protected. There is a reasonable option of payment under the policy. In every instance, an individual life policy is more expensive that joint life insurance.

It also provides financial assistance for critical illness. Therefore it is wise investment for financial stability and financial security. It is a very difficult decision while choosing the type of joint policy. It just depends on the need’s duration. People can take insurance expert’s help as well to take assistance.

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