To get joint Life Insurance... or separate policies?

chalabre7

My OH and I are both over 60 have two years left on our repayment mortgage - less than £9,000 - and need to find a life insurance to cover us for that period. It seems that most if not all life insurances have a minimum term cover, ie 4-5 years. Would appreciate advice on whether it would be better to have a joint policy or two separate ones?

John_Pierpoint

Why do you feel you need an insurance policy for such a small risk, have you not other savings?
Have you the prospect of pension lump sums?

The administrative costs of such a small policy are likely to be large in comparison to any potential payout.

zygurat789

chalabre7 wrote: »

My OH and I are both over 60 have two years left on our repayment mortgage - less than £9,000 - and need to find a life insurance to cover us for that period. It seems that most if not all life insurances have a minimum term cover, ie 4-5 years. Would appreciate advice on whether it would be better to have a joint policy or two separate ones?

You could always take out a policy and lapse it after the morgage is repaid.