What is Joint Term Life Assurance 

A joint insurance plan covers two individuals under a single policy and is primarily designed to cover couples. This approach offers multiple benefits for both partners. It offers a payout on the death of either of the two insured and, in some cases, provides a regular income to the surviving partner. In the event of death of one of the partners, the other partner becomes the beneficiary.

Instead of taking separate individual policies, joint term insurance can prove to be a better fit, particularly for young couples. Joint insurance eliminates the need to take two separate insurance policies for both partners. The sum assured in a joint plan is calculated on the basis of several factors including the primary policyholder’s age, medical history, income and lifestyle. For the secondary policyholder, the age and medical condition are taken into account.


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