Life Insurance✓ Verified · outline & fact-checked · Sep 2026Difficulty 1/5
A joint life (first-to-die) policy insuring two spouses pays the death benefit:
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
A joint life, first-to-die policy insures two lives under one contract and pays the face amount when the first insured dies. It is commonly used by married couples or business partners to provide funds at the first death, and the premium is generally lower than the combined cost of two individual policies. After the first death, the contract ends. This is the mirror image of a survivorship or second-to-die policy, which pays only after the last insured dies.
Why the other options are wrong
- A) Paying only after both deaths describes survivorship (second-to-die) coverage, not a first-to-die joint life policy.
- B) Critical illness triggers are found in living benefits riders, not in the standard first-to-die joint life contract.
- C) The policy pays on the first death whenever it occurs; there is no maturity at age 65.
Memory hook
First one to go triggers the payout on joint life.