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Glossary

This glossary is intended as a general aid to help you understand some of the commonly occurring phrases and jargon used in the insurance world.  If you have any questions about the use or meaning of a term or expression in any particular product or literature, you should raise them with the provider concerned.

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Joint life
policy that covers two people and pays out when the first person dies.
Joint life annuity
This pays you a regular retirement income for the rest of your life. When you die, it provides a regular retirement income (at the same or a reduced amount) to your surviving husband, wife, civil partner or dependants.
Joint life last survivor
A life insurance policy that covers two people’s lives and pays out on the death of the second person.