Evaluating joint versus individual policies
When deciding how to structure your homeowner life insurance, you will need to choose between purchasing a joint policy or two separate individual policies. A joint life insurance policy covers both partners under a single contract and is often marketed to married couples as a convenient, cost-effective option. These policies typically come in two formats: first-to-die and second-to-die. A first-to-die joint policy pays out the death benefit when the first partner passes away