A joint life insurance policy is often a great way to save money on a policy, but smoking may have an adverse effect if one party is a smoker and the other isn’t.
A joint life insurance policy covers two lives simultaneously, meaning there’s only one application form to complete and just one premium to pay.
Due to this, if one party declares themself as a smoker, the other will also be penalised with an inflated premium.
In this scenario, it could be beneficial to compare quotes for a joint policy vs two single polices to find the most cost-effective option.