New York Life

Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Joint and Survivor Annuity
An annuity that provides income payments for as long as either of two annuitants remains alive.

Joint Life Insurance
A policy that insures two or more lives and provides for the payment of the proceeds upon the event of the first to die. Also called first to die insurance.

Juvenile Insurance
Cash value life insurance written on children (typically 0 to 18 years of age). Eventually, ownership of the policies is gifted to the insured child at a certain age. Such policies are attractive as legacies for parents and grandparents since premiums are generally low (and with some policies, will remain at that low level for life), the insured's future insurability can be protected through guaranteed purchase options, and the policy can accumulate cash value that can be used by the insured to help pay future expenses (such as college tuition or down payment on a first home) or left to accumulate.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

= external link that opens in new window...more

© 2012 New York Life Insurance Company, New York, NY. All rights reserved.  Privacy Policy  Site Help/Disclosures