Should Couples Say "I Do" To A Joint Life Policy?


Although a joint life policy is appealing to couples looking to keep cost low, it is not always the best option. At the end of the day, there is little wiggle room when it comes to coverage with a joint life policy. Once one person dies, the policy is paid out and the remaining spouse will need to take out a new policy. Depending on the age and health of that spouse, their premium costs for the new policy could be considerably larger when that time comes. Another issue that comes up with joint life policies is the possibility that the couple seperates. It may be a smarter and more flexible route to have seperate policies, if the couple can afford the premium costs. An affordable option is Safe Harbor Term: