In this life insurance advice video, life insurance expert Peter O’Grady explains exactly what a separation option is.
Peter goes on to explain that a separation option on a joint life insurance policy covering two people, means that if the couple were to separate then they could separate the policy into individual plans in their own names. This would be to the same level of cover as previously provided, without any further medical underwriting.
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In case the link above did not work here is the link: http://justlifeinsurance.com/life-insurance-advice-videos/separation-option/
There is hardly anything on the net talking about separation options on the Internet, believe me I’ve looked, not one thing bar this video, even this is only 40 seconds long but it’s the best you’re going to get for a while so enjoy it. It seems if you want more information, talking to an IFA is your only option at present.
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