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Life Settlement
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DEFINITION OF JOINT SURVIVOR LIFE INSURANCE


This is a life insurance policy type that insures two insureds under one policy. There are two forms of joint survivor policies, one is called first-to-die and the other is called second-to-die. The first-to-die pays out a death benefit following the death of the first insured, while the second-to-die pays out after the death of the second insured.

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