Life Insurance and Life Settlement Terms - J
Joint Insurance
Insurance written on two or more persons with benefits typically payable only at the first death.
Joint And Survivor Annuity
An annuity with two annuitants, typically spouses. Payments continue until the death of the longest living of the two.
Joint Underwriting Association / JUA
Insurers which join together to give coverage for a particular type of risk or size of exposure, when there are difficulties in getting coverage in the regular market, and which share in the profits and losses related with the program.
Junk Bonds
Company bonds with credit ratings of BB or less. They disburse a higher yield than investment grade bonds because issuers have a higher perceived risk of default.
Joint and Survivorship Term Life Insurance Optio
A term life insurance settlement choice under which payments will be made to two or more payees. These payments will continue until both or all the named payees are reduced
Joint Whole Life Insurance
One insurance policy that covers two lives and that provides for payment of the proceeds at the time of the first insured’s expiry.
