A condom with reduced chance of failure includes an inner pouch within an outer pouch. The inner pouch is bonded to the outer pouch adjacent to their open ends to form a sealed interstitial space between the inner and outer pouches. A lubricant is located in the interstitial space to enable the outer pouch to slide relative to the inner pouch during sexual intercourse. The outer pouch has an enlarged head area so that the outer pouch easily slides back and forth over the inner pouch and glans of the penis during intercourse. The inner pouch has a wall thickness that is less than the wall thickness of the outer pouch for increased sensitivity. The inner pouch has a narrow segment extending into a smaller bulb exerting pressure at the junction of the glans and shaft covering the entire frenulum area, thereby inhibiting premature ejaculation and reducing slippage.