Life Insurance✓ Verified · outline & fact-checked · Sep 2026Difficulty 1/5
A joint life (first-to-die) insurance policy pays its death benefit:
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
A joint life policy written as first-to-die pays the death benefit upon the death of the first insured. It is often used by couples or business partners where the survivors need funds immediately after the first death. This contrasts with a survivorship (last-to-die) policy, which pays only when the second insured dies - a distinction covered under the special coverages in objective LIFE-II.B.4.
Why the other options are wrong
- B) Paying on the second death describes a survivorship (last-to-die) policy, not a first-to-die joint life policy.
- C) Simultaneous death is a common-disaster scenario; a first-to-die policy pays on the first death regardless.
- D) Paying at a stated age is a feature of endowments, not a first-to-die joint life policy.
Memory hook
First-to-die pays at the first funeral. Last-to-die waits for the second.