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Joint Life Insurance

A joint life insurance policy covers two people. It pays out if one person in a couple passes away, after which the policy ends.

What you need to know

  • Joint life insurance can cover both you and your partner on a single policy.
  • It can work out cheaper than two standalone policies.
  • It can be less hassle to manage one direct debit payment and one policy.

Joint life insurance vs individual life insurance


Joint life insurance

  • Couples of a joint life insurance policy are covered under a single policy and usually share the same level of cover.
  • Most operate on a first-death basis which means the life insurance benefit is paid out just once – when the first person on the policy passes away.
  • It's often an affordable and convenient solution for couples looking to take out life insurance – you can often get joint policy discount.

Individual life insurance

  • A single life insurance policy covers one person only.
  • If you both have individual life insurance policies and you or your partner dies, one policy will still be active.
  • Individuals can take out life insurance through their superannuation fund.

Direct life insurance policies that offer joint cover

1 - 4 of 6
Name Product Couples Cover Maximum Entry Age Maximum Cover Claims Acceptance Rate Average Claim Time Sum Insured
Real Family Life Cover
2.4 months
$53,238 million
Our verdict: The application is simple; it can be done with 1 phone call and there are no medical exams. But households with larger debts may need more than a $1 million payout.

⭐ Current offer: Get back 10% of the premiums you’ve paid after 1 year.
AAMI Life Insurance
Data not available
3.1 months
$37,768 million
Our verdict: There’s flexibility with AAMI as you can add another adult to your cover, with a competitive limit of $1.5 million. Easy application process with no medical exams.

⭐ Current offer: Take out a new AAMI Life Insurance policy and get $100 eGift card after your first 4 months of cover. T&Cs apply. Ends June 30, 2024.
Suncorp Life Insurance
Data not available
3.1 months
$37,768 million
Our verdict: Competitive maximum cover limit of $1.5 million. Suncorp lets you change your cover amount by up to $100,000 after a big life event, such as having a baby.

⭐ Current offer: Take out a new Suncorp Life Insurance policy and get $100 eGift card after your first 4 months of cover. T&Cs apply. Ends June 30, 2024.
Allianz Life Plan
Data not available
Data not available
$12,515 million
Our verdict: Allianz offers competitive maximum payouts of up to $1.5 million. With a policy cancellation rate of 8.4%, Allianz betters the industry average of 10.9%.

Why compare life insurance with Finder?

  • You pay the same price as buying directly from the life insurer.

  • We're not owned by an insurer (unlike other comparison sites).

  • We've done 100+ hours of policy research to help you understand what you're comparing.

Pros and cons of a joint life insurance policy


  • Affordability. The cost of insuring two people instead of one is cheaper, which in turn affects the price of the policy itself.
  • Peace of mind for both of you. If only one of you has life insurance cover, only one of you is protected – unlike with joint life insurance.
  • Convenience. It's one less policy to look after and one less monthly premium payment to keep up with.


  • Potentially complicated if your relationship breaks down. You'll need to cancel, split or agree to keep your policy in place.
  • You might not receive a discount. It might not be worth it if you can't receive a discount.

How do I speak to my partner or spouse about life insurance?

Why you can trust Finder's life insurance experts


We're free

You pay the same as buying directly from the life insurer. Better still, we regularly run exclusive deals that you won't find on any other site – plus, our tables make it easy to compare policies.
expert advice

We're experts

Our team of life insurance experts have researched and rated dozens of policies as part of our Finder Awards and published 250+ guides to make it easier for you to compare.

We're independent

Unlike other comparison sites, we're not owned by an insurer. That means our opinions are our own and we work with lots of life insurance brands, making it easier for you to find a good deal.

We're here to help

Since 2016, we've helped 270,000+ people find life insurance by explaining your cover options, simply and clearly. We'll never ask for your number or email. We're here to help you make a decision.

FAQs about joint life insurance

Speak with a broker about joint life insurance

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