What Does Joint Insurance Mean?

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What does Joint Insurance mean? Read on to discover the definition & meaning of the term Joint Insurance - to help you better understand the language used in insurance policies.

Joint Insurance

Joint Insurance

Life insurance written covering two or more lives with benefits payable when the first of the covered persons dies. This type of policy is most frequently used for key man insurance to allow a surviving partner to purchase a deceased partner's share of the business.

We hope the you have a better understanding of the meaning of Joint Insurance.

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