Can I Get Couples Life Insurance?
Yes. A joint life policy typically insures two people under one policy, with each person having their own individual sum insured. Each partner can make a claim independently, and both amounts can be paid, even if both insured individuals experience a claimable event at the same time. Some insurers also provide partner discounts when you apply together.
You can choose to add options like TPD or trauma cover to one or both policies based on your needs. While these extras can enhance your overall protection, they may influence how your main life cover operates if the benefits are linked. It’s important to read the Product Disclosure Statement (PDS) to understand how a claim on one benefit might impact another. Because trauma or TPD payouts reduce the linked life cover, the combined maximum payout for linked benefits cannot exceed the original life cover amount. This is different from standalone benefits, where both the trauma and life cover amounts can be paid in full separately.
