Joint or Individual Life Insurance?

If you’re in a long term relationship you may be thinking that it’s time to purchase life insurance.  This is a good idea especially if your lifestyles are dependent on each others efforts (i.e. child rearing) or income.  Is there a measurable financial risk to someone dying prematurely?  Is this risk manageable without life insurance?  If not, then you need life insurance.

Sometimes it makes sense to purchase a joint policy, especially when there is a joint risk such as a mortgage balance.  By purchasing a point policy you get good coverage and can save up to 15% on the expense.  Below is a list of the pros and cons of Joint Life Insurance vs. Individual Life Insurance.

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From the time you marry, buy your first home, or start a family; having the right life insurance means that you and your loved ones have peace of mind.