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"Dual life cover is underused and deserves more attention"

ended 24. April 2025

One insurance expert, Joe Farmer, Protection Advisor at When The Bank Says No, has said “dual life cover is underused and deserves more attention”, adding: “I believe it’s something the industry should be exploring more, especially when both individuals being insured play an equally important financial role.”

Sean Horton, Managing Director at Respect Capital, agrees: “Dual life cover is a far superior setup compared to standard joint life (first death) policies. It's simple for the customer, as they only have one policy to worry about. And there's the potential for two death claims as the survivor remains covered.”

Meanwhile, David Stirling, Director at Mint Mortgages & Protection, says: “Financial planners have a duty to offer fair value to clients and proactively prevent foreseeable harm. Joint policies, while often perceived as convenient, tend to be inflexible. A change in health, family history, BMI or occupation for either individual can make altering or updating the plan difficult — even if only one person is affected. This can leave the healthier client locked into inadequate or outdated cover that no longer meets their needs or priorities.”

But Scott Gallacher, Director at Rowley Turton, warns that "it's critical that any recommendation of dual life cover is backed by a clearly identified client need, rather than simply upselling." Views below.

4 responses from the Newspage community

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Martin Briggs
Independent Financial Adviser at The Retirement Studio
Dual life cover is underused and deserves more attention. I believe it’s something the industry should be exploring more, especially when both individuals being insured play an equally important financial role. I’ve had a few conversations with our BDMs and, from my research, it’s clear that dual life cover is often overlooked. Guardian provides a clear example where a joint life policy is priced at £30.66 per month, while a dual life policy is £35.66. For just £5 more, you get the added benefit of covering both lives individually, offering excellent value for money and added peace of mind.
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Scott Gallacher
Director at Rowley Turton
Insurance is often both needs-based and cost-driven, so it’s not surprising that dual life cover, which is typically more expensive than joint life policies, has remained underused. While dual life offers superior protection—paying out on both lives rather than just the first death—many clients are naturally drawn to the lower premiums of joint life cover, especially when budgets are tight. That said, advisers need to tread carefully. I recall reading Financial Ombudsman Service (FOS) cases that raised concerns over the overselling of insurance—whether it's recommending Level Term Assurance over Decreasing Term Assurance, or two single policies instead of a joint policy. It's critical that any recommendation of dual life cover is backed by a clearly identified client need, rather than simply upselling.
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David Stirling
Independent Financial Adviser at Mint Wealth
Financial planners have a duty to offer fair value to clients and proactively prevent foreseeable harm. Joint policies, while often perceived as convenient, tend to be inflexible. A change in health, family history, BMI or occupation for either individual can make altering or updating the plan difficult — even if only one person is affected. This can leave the healthier client locked into inadequate or outdated cover that no longer meets their needs or priorities. Given the relatively small additional cost of splitting a policy, financial planners have a clear opportunity to provide greater value. By offering dual cover through individual policies, clients gain increased flexibility, better long-term protection and the freedom to make future adjustments as their circumstances evolve. Providers such as Guardian and Royal London offer menu-based plans that deliver exceptional value and adaptability, making them ideal for this type of strategic, forward-thinking advice.
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Sean Horton
Managing Director at Respect Mortgages
Dual life cover is a far superior setup compared to standard joint life (first death) policies. It's simple for the customer, as they only have one policy to worry about. And there's the potential for two death claims as the survivor remains covered. This is a perfect example of how seeking financial advice means your protection is set up in the best way possible, rather than buying the cheapest price on a comparision site. Guardian have always been a competitive and innovative protection provider. For couples, I prefer to use two separate policies wherever possible, also known as 'life of another'. Each policy can be setup with different amounts of cover, useful for family protection, and upon a death claim the other policy remains in force. Also, you can have each policy with a separate provider, to get the very best premiums. This is a bit more expensive but it's a more tailored and complete solution.