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Joint and Survivor Option |
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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. |
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Joint Plan |
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A life insurance plan that insures two or more lives and pays proceeds at the time of the first death. |
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Jumbo Risk |
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A risk involving exceptionally high benefits. |
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Jumping Juvenile Insurance Policy |
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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. |
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