TCF warning on joint life policies - LifeSearch

The protection specialist believes the joint life discount is not enough to warrant the sale or recommendation of the products to most couples. Instead, it wants to see a ‘dual-life’ option; two single life plans packaged to look like a joint plan to keep the product simple. It says clients often have no idea there are alternatives to the joint life option. LifeSearch head of protection strategy Kevin Carr says: “Joint life is such bad value and is oversold. The customer can be better protected but there is a lack of knowledge of the alternatives and a laziness to change policies.”...