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Glossary of Insurance Terms

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J

  • Joint and Survivorship Annuity. :
    An annuity which is payable to the named annuitants during the period of their joint lives which will continue to the survivor when the first annuitant dies. (LI)
  • Joint Insurance. :
    Insurance written on two or more persons with benefits usually payable only at the first death. (LI)  
  • Joint Life and Survivorship Annuity. :
    A contract which provides income to two or more people and continues in force as long as any one of them survives. (LI)
  • Joint Life Annuity. :
    This policy pays a benefit which continues throughout the joint lifetime of two people but terminates at the first death. (LI)
  • Joint Life Insurance. :
    See Joint Insurance. (LI)
  • Jumping Juvenile. :
    A popular name for a Life Insurance contract written on the life of a child, usually in units of $1,000. When the child reaches a prescribed age, generally 21, the face of the policy is increased automatically without the imposition of either an additional premium charge or a medical examination. Hence the term "jumping" juvenile. (LI)
  • Juvenile Insurance. :
    Life insurance written on a child. (LI)

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a subsidiary of Guardian Holdings Ltd.

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