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Joint Life Insurance

hi

my partner has just got details and a quote for joint life insurance for us together but Im worried as I have bad credit and he has an excellent record.
Is joint life insurance like a joint account - ie, will it link us together financially and cause his credit rating to drop because of association with me?

thanks
Stella

Comments

  • EstellaK
    EstellaK Posts: 61 Forumite
    Any ideas anyone?
    ive tried to read the pages of small print but cant see anything about credit searching etc
  • Life policies are nothing to do with credit history.
    They are there to pay out in the unfortunate situation of one of you leaving this earth before your time.
    Shop around for the cheapest quotes as premiums can vary greatly.
  • Donedoingdebt
    Donedoingdebt Posts: 1,196 Forumite
    Part of the Furniture Combo Breaker Debt-free and Proud!
    My wife & I have had a joint life policy for 5 years & there is no mention of it in either Experian or Equifax's credit files for either of us.
    Donedoingdebt Lightbulb moment January 2000. Debt at highest approx £102,000. Debt now (October 2009 - absolutely fork all!!!):beer:
    CSA case closed on 02/09/10 :beer::beer:
  • finacial links on credit files is as it says only finacial ...


    i would also look at the new life insurance that you can get tax relief on.... i think you can get joint ones ( it mens you save at least 20% on the price if you pay tax)
    Debit was £64k (light bulb Feb 05)
    Debt now 60K Dec 07 DFD= nov2019 :confused:
    "The only time money comes before work is in the dictionary"
  • EstellaK
    EstellaK Posts: 61 Forumite
    thanks guys
  • elizw
    elizw Posts: 67 Forumite
    I used to do quotes for life assurance. briefly - It is better to get 2 separate ones at not much more in cost. If you have dependents then both policies will pay out. joint policies pay out on the first death and then finish. Also a problem if you split up . then it may be more expensive to take out a new policy for the survivor. - also it depends on your health and the health of your parents. - be honest or it might not pay out -
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