Life insurance: the benefits of joint underwriting

Co-subscription may be of interest to couples married under the community regime.  (© DR)

Co-subscription may be of interest to couples married under the community regime. (© DR)

Taking out a life insurance policy together allows married couples to preserve the surviving spouse’s purchasing power. An unknown mode of membership to discover.

Manage your assets as a duo, with confidence: for some couples, everything must be shared, including investments! The joint subscription of life insurance offers them the ideal tool. Also called co-membership, it consists of two people subscribing to a single contract which will be fed by common funds.

Widespread until the early 2000s (thousands of married couples still hold a joint subscription contract today), the practice has somewhat dried up, particularly since the Tepa law of 2007 exempting the surviving spouse from succession.

However, if you are married under the community regime (like 90% of couples), opening a joint life insurance policy is an option to consider. There are two scenarios.

First-to-die outcome

In practice, insurers limit co-subscription with settlement on the first death to couples married under the community regime: the death benefits become the property of the surviving spouse, even if the funds saved come from the common money of the spouses ( 1).

Most often, the beneficiary clause is divided between the surviving spouse who obtains the usufruct of the capital and the children who recover the bare ownership: the capital received by the surviving spouse will be returned to their children upon their death under tax conditions.

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