What Is Joint Whole Life Insurance? 
Joint Whole Life is a policy that covers two people on the same policy . The policy will pay when the first party dies . The surviving party then has the right to purchase another policy regardless of insurability . Another form of Joint life is a last to die . The policy is scheduled to pay at the last insured death . While there are some advantages to joint life , my experience has been that they can be a nightmare at times , particularly in the case of a joint life on a husband and wife going through a divorce . Because of the volatile nature of divorce situations having two people get together to divide the policy into two individual contracts can be a touchy situation . My preference in most situations is two separate policies . 