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)