Is it possible to have different levels of cover on a joint life policy?
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You are both able to have different levels of cover - but it is often better to get separate policies.
Variable levels of cover are available on Joint Life policies - meaning that you both have a different sum insured.
However with a 'Joint Life First Death Policy', the policy will automatically terminate once a claim is made, which means that you may not be able to take advantage of the higher payout from the higher sum insured. The other disadvantage is that the surviving partner is left with no insurance cover and at an older age when it is harder to obtain insurance.
