A life insurance settlement option that allows the beneficiary to have the death proceeds paid out in the form of a joint and last survivor annuity.
Joint Plan
A life insurance plan that insures two or more lives and pays proceeds at the time of the first death.
Jumbo Risk
A risk involving exceptionally high benefits.
Jumping Juvenile Insurance Policy
Life insurance purchased by parents for children under a specified age. Provides permanent life insurance that increases in face value five times at age twenty-one with no increase in premium.
