Life Insurance
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Glossary of Investment Terms (J)
Joint Life
A life policy option where life assurance is taken out by one (or more) individuals and the payout is made on the death of first Life Assured or the death of the last remaining Life Assured.
Joint Life First Death
This is where an insurance policy ends on the earlier of full encashment or the death of one of the Lives Assured.
Joint Life Last Death
Similar to a joint life first death insurance policy but payment is made on the earlier of full encashment or death of the last remaining Life Assured.
Junk Bond
A high risk, high yield debt security rated below triple B.