Getting married? Review your life insurance
Getting married is one of the most important life events that should trigger a financial review — including your life insurance. It often marks the start of a mortgage, combined finances, and mutual financial dependence. If you don't have life insurance, now is the time to arrange it.
How does marriage affect life insurance?
- Review your sum assured: Your financial commitments have likely increased — update your cover to reflect a joint mortgage and your partner's financial dependence
- Update your beneficiaries: If your policy is written in trust, update the trust deed to name your spouse
- Consider two single policies: Rather than a joint policy, two single policies provide better protection and are more flexible
- Check your employer death-in-service benefit: You may now want to nominate your spouse
How much life insurance do newly married couples need?
Consider your joint mortgage balance, how long your partner would need financial support, any children you plan to have, and any joint debts. Most newly married couples with a mortgage need £200,000–£500,000 each.
Joint vs two single policies for married couples
A joint policy is cheaper but pays once — on the first death — and then ends, leaving the surviving partner without cover. Two single policies cost more but pay out twice and are independent, making them more flexible if circumstances change.
Frequently Asked Questions
Getting married is the ideal trigger to buy life insurance — especially if you're taking on a joint mortgage or your partner will be financially dependent on you. The sooner you buy, the cheaper the premium.
No — your existing policy continues unchanged. However, you should review the sum assured, update your beneficiary details, and check whether a trust is in place.