Which policy pays out at the first death among the named insured?

Question

Quizplus · Accepted Answer

Joint life policies pay out upon the death of either named insured. This is different from survivorship joint life policies, which only pay out upon the death of the second named insured. Viatical life policies involve the sale of a life insurance policy by a terminally ill policyholder. Family life policies typically cover multiple individuals within a family and may pay out upon the deaths of any named insureds.

Which Policy Pays Out at the First Death Among the Named