What Does Life Insurance Cover?
When one spouse or partner in a relationship dies before another, financial difficulties from loss of income are the last thing anyone wants to deal with. Life insurance can be used for life partners or spouses to ensure that their loved ones or other designated beneficiaries are financially protected should one or both of them pass away prematurely. Joint life insurance provides that protection for two people under one policy, which can be more cost effective in certain cases. However, joint life insurance carries the risk of leaving the surviving party uninsured if the other dies. Joint life insurance policies are also increasingly difficult to find, especially as term life insurance premiums get more affordable over the years.