Joint Term Life Insurance

September 5th, by Joe Terrier

Joint term life insurance is a type of policy that covers more than one person. Typically is is used for two people, for example, a married couple. If one spouse passes on, then the other would be protected under the life insurance policy.

Joint term life insurance is the cheapest group term policy available. This is because two people can be covered under a very simple plan. These plans usually have a “either or both” payout option. The policy will be paid out to the beneficiaries when either spouse dies, or after they are both dead.