Category: Specific protection products · Reviewed by Mark Fox, Broker · Renewals · Last reviewed 2026-06-10
Joint life second death (JLSD) is a life assurance contract on two lives jointly under which the sum assured is paid only on the death of the second of the two insured lives. The cover is most commonly written in trust on a permanent (whole of life) basis and used for inheritance tax mitigation, because the bulk of IHT liability for married couples and civil partners arises on the second death after the spousal exemption has been used on the first.
Category: Specific protection products Also known as: JLSD, second death cover Pays out: On second death Related concepts: Joint life first death, Whole of life cover, Inheritance tax cover, Trust written whole of life
JLSD cover is significantly cheaper than equivalent JLFD or two-single-life cover for the same individuals because the average expected payment date is materially later. Premium is normally calculated by reference to the joint mortality of the two lives until the second death.
FCA regulated under ICOBS. Tax: where written in trust, the benefit is paid outside the deceased’s estate for IHT purposes and provides liquidity to pay the IHT bill on the second death.
JLSD cover is typically whole of life or extended term (e.g. to age 95 or 100). Premium for £500,000 JLSD WoL for a couple both aged 65 might be approximately £250 per month — materially less than the equivalent two single-life policies.
A couple in their late 60s with an estate of £2.5m anticipates an IHT bill on the second death of approximately £600,000 (after the residence nil-rate band has been used). They take out a £600,000 JLSD WoL policy in trust for their children. Premium £350 per month, funded within the normal expenditure out of income exemption. On the second death, the £600,000 is paid to the trust providing liquidity to pay IHT.
This entry is part of the Apex Insurance Wiki. Last reviewed by Matt Bartlett on 2026-06-10. Next review: 2026-12-10.
Apex Insurance Brokers Limited. Authorised and regulated by the Financial Conduct Authority, FRN 724952. Registered in England and Wales, Companies House 07014570. This entry provides general information about UK insurance concepts and is not regulated advice. Consult your insurance broker on your specific position.
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