Joint First-to-Die

In the context of Life Insurance, "Joint First-to-Die" coverage insures the lives of two individuals under a single policy. The death benefit is paid out upon the death of the first insured individual. This type of coverage is commonly used by couples or business partners to provide financial support or settle obligations immediately after the first death.

Key aspects of Joint First-to-Die coverage include:

1. Dual Coverage: Insures two individuals under one policy.
2. First Death Payout: The death benefit is payable upon the first death.
3. Financial Security: Provides immediate financial support to the surviving insured or beneficiaries.