If J purchased a $100,000 Joint Life policy and died, how much will his wife receive?

If J purchased a $100,000 Joint Life policy and died, how much will his wife receive?

• A. $50,000
• B. $100,000
• C. $200,000
• D. $0

Answer: (B)

A Joint Life policy covers two individuals, typically spouses, and pays out a death benefit upon the death of either insured. In this case, since J purchased a $100,000 Joint Life policy, it is designed to provide a benefit of $100,000 to the surviving spouse—in this case, his wife—upon J's death. Therefore, she would receive the full face value of the policy, which is $100,000. This amount is intended to offer financial support to the surviving partner, helping them manage financial obligations or maintain their standard of living after the loss of their spouse.

A Joint Life policy covers two individuals, typically spouses, and pays out a death benefit upon the death of either insured. In this case, since J purchased a $100,000 Joint Life policy, it is designed to provide a benefit of $100,000 to the surviving spouse—in this case, his wife—upon J's death. Therefore, she would receive the full face value of the policy, which is $100,000. This amount is intended to offer financial support to the surviving partner, helping them manage financial obligations or maintain their standard of living after the loss of their spouse.