The difference between the two is that a single life insurance policy provides as cover for just one person and when that person dies, the partner gets the amount but if it is a joint policy, the amount goes to either of the persons who happens to be the survivor. So a joint cover really does protect both the partners in case of death. A joint policy cannot be changed to a single or two single policies.
What more and more people are looking at today for couples are two single insurance policies so that when either one dies, the sum goes to the survivor and when the survivor dies, the sum goes to someone in the family. Some insurance companies will allow a joint life policy to include a 'second death' clause and in this, both partners' deaths will be covered.
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