How Does A Joint Life Insurance Policy Work? 
Joint life insurance is usually referring to joint second-to-die which is also known as survivorship life insurance . These policies insure two lives and became popular with the advent of the unlimited martial deduction in the early 1980s . It has become a common way to provide for estate liquidity . Priced at a lower premium than two single life policies , survivorship policies pay nothing at the first death . The policy death benefit pays at the death of the second insured to die . While readily available at one time , joint first-to-die life insurance policies are no longer available from A rated carriers that distribute through life insurance brokers . 