Older couples with joint life cover could find it more cost-effective to take out separate plans as ...
Older couples with joint life cover could find it more cost-effective to take out separate plans as the cost of effecting individual policies reduces with age, according to specialist life broker Rebroke.
Following independent res-earch of different client scen- arios, the broker said middle-aged couples could save money by opting for individual plans.
Lee Davy, director of Rebroke, explained: 'Today a non-smoking couple aged 35 would pay a total of £23.96 per month individually and £19.40 per month on a joint plan, to provide £150,000 of level term assurance over a 20-year term. The additional cost here is 23%, whereas a non-smoking couple aged 51 would pay £99.54 individually and £97.07 jointly, which is only 2.5% more.'
