Life Insurance✓ Verified · outline & fact-checked · Sep 2026Difficulty 2/5
A joint life insurance policy insuring two people provides that the death benefit is payable:
Select an option to reveal the answer and the full 3-part explanation — free, no signup.
Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
A joint life (first-to-die) policy covers two lives and pays the face amount when the first insured dies; coverage then terminates. It is commonly used where two people share an obligation — such as a married couple with a mortgage or business partners — so the survivor receives funds when the first death occurs. After the claim the survivor typically must purchase new coverage at the then-attained age if more protection is needed.
Why the other options are wrong
- B) Paying only at the second death describes survivorship (last-to-die) coverage, which is the opposite trigger of joint life.
- C) The policy pays once at the first death; paying twice requires two separate individual policies.
- D) Simultaneous death is not the trigger — the policy pays on the first death regardless of whether the deaths are simultaneous.
Memory hook
Joint life = first death pays and the policy is done. Survivorship = last death pays. Pick the death you are funding.