This policy pays a benefit which continues throughout the joint lifetime of two people, but terminates at the first death.
This policy pays a benefit which continues throughout the joint lifetime of two people, but terminates at the first death.
The person whose life measures the duration of a trust, gift, estate, or insurance contract. Thus, in Life and Health Insurance it is the person on whose life or health the policy is written, commonly called the insured, policyholder, or policy owner.