Who is the beneficiary of a joint life insurance policy?
Who is the beneficiary of a joint life insurance policy?
It is issued by one insurer, with each individual being insured for the same amount of money as the other, regardless of who passes away first. The beneficiary by default is the surviving partner and payouts are usually in the form of a tax-free lump sum. A joint life insurance policy only pays out once. Aug 17, 2021
