Risk and Qualifying
Taking out a joint life insurance policy is generally less expensive than two individual policies and offers some unique, strategic benefits. There are two options, identified according to the terms of the payout: joint first-to-die and joint last- to-die. Each has different uses, depending on your insurance needs.
If you have a partner or spouse, your life insurance needs are just as intertwined as the rest of your life together. If a health issue is making it difficult for you or your spouse to qualify for individual insurance, you can team up and purchase a joint last- to-die policy.
Ask your Carte Financial Advisor to show you how it can work if one spouse has difficulty qualifying for a separate policy. The underwriting process takes into consideration that two lives are being insured together. This offers lower risk for the insurer. It’s why joint last-to-die insurance is roughly less than half the cost of two individual policies.
Combining your needs into a joint policy makes it possible for a spouse with a health issue to obtain budget-friendly insurance. Joint insurance provides you with a unique opportunity to do both. Use joint life insurance to meet your personal or professional goals. Your Carte Financial Advisor can show you how to make this type of policy work hard for you.