What Is Joint Life Insurance?

Joint life insurance covers two people under one policy, often spouses or partners, and can be permanent or term. It pays out either when the first person dies (first-to-die) or after both have died (second-to-die). It's cost-effective, especially if one partner has health issues, but less customizable than individual policies. Ideal for estate planning, debt coverage, or if one partner is the primary earner.