Joint Term Life insurance

From: sprasad@cauvery.Eng.Sun.COM (Shankar Prasad)
Subject: Joint Term Life insurance
Date: Wed, 26 Aug 1998 10:53:46 -0700

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Hi

I have been considering buying separate 20-year level
term policies for myself and my wife.  Someone mentioned
that JOINT policies are available.  I am wondering whether
there is any type of joint (level term) life insurance
policy which will pay death benefits when the FIRST person
dies, and preferably continues with some residual coverage
for the SECOND one.  This would be a FIRST-to-DIE-with-survivor
coverage type of policy, if such a beast exists.

Using such a joint policy might mean lower premiums than
two separate individual policies.  Does anyone have any
experience or opinions on the effectiveness of such
policies ?  Are there any insurance companies which offer
such policies ?

I have looked at www.insure.com, but cannot find any background
material on such joint policies.  Any other websites which
might cover the specifics and pros/cons ?

- --
Regards
Shankar Prasad
sprasad@eng.sun.com



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