A life insurance settlement option that allows the beneficiary to have the death proceeds paid out in the form of a joint and
last survivor annuity.
Joint Ownership
Equal ownership by two or more people, who have the right of survivorship.
Joint Plan
A life insurance plan that insures two or more lives and pays proceeds at the time of the first death.
Jumbo CD
Certificate of deposit with a minimum denomination of $100,000.
Jumbo Risk
A risk involving exceptionally high benefits.
Jumping Juvenile Insurance Policy
Life insurance purchased by parents for children under a specified age. Provides permanent life insurance that increases in
face value five times at age twenty-one with no increase in premium.
