What happens to a joint international life insurance policy when one person dies?
What happens when one person on a joint life policy dies depends on whether the policy is a Joint Life First Death or Joint Life Second Death arrangement.
Joint Life First Death
When the first life assured dies on a Joint Life First Death policy, the protection benefit is paid out and the entire policy terminates, causing the surviving partner to no longer be covered.
This means that if the surviving partner wants to remain insured, they will need to apply for a new individual policy in their own name. At that point, they will be older than when the original policy was taken out, which will typically affect the premium. Their health and circumstances at the point of applying may also affect the terms available to them.
Joint Life Second Death
On a second death policy, the death of the first life assured does not trigger a payout. Cover continues, and the protection benefit is only paid when the second life assured also dies. This structure is used where the financial need arises after both partners have passed, for example, to provide for children or address estate-related costs.
Claiming on a joint policy
When a life assured on a joint policy dies, the surviving partner or nominated beneficiaries should contact Expatriate Group to begin the claims process. Evidence of the claim will be required, which may include an original death certificate, medical reports, and other documentation depending on the circumstances of the death.
Where the policy is held in joint names, any changes to beneficiary nominations must be signed by all joint policyholders while both are alive.
Contact us to discuss joint life options, or get a quote to explore the cover available.
