Joint Life Insurance
Joint Life Insurance can come in the form of term life insurance or permanent life insurance. There are two types of joint insurance. Joint first to die life insurance covers two people and only pays the death benefit on the death of the first person. Joint last to die life insurance pays the death benefit when the last person dies. First to die insurance is generally considered when a couple is looking for a less expensive option for life insurance rather than two separate policies. The benefit may be intended to cover debts in the case of the first death. Last to die Insurance may be intended to cover potential tax bills for the inheritance of property or other such expenses.