what is joint life policy
Dear Student, joint life policy (or JLP) is an insurance policy which is designed to cover the lives of more than one individual is known as joint life insurance policy. This kind of insurance policy is generally taken by a partnership firm to cover the joint lives of all the partners. The monthly premium for JLP is paid by the firm. The insurance company is liable to pay the insured amount to the firm on the event of death of partner or on the maturity of the policy whichever is earlier.
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