Who can be covered with Life Insurance?
Only one person is covered under the policy. If this person dies within the term of the policy - The cover amount will be paid to the policy holders estate or lender (Whichever chosen)
Both people are covered equally under this policy and is a popular choice as it comes at no extra cost compared to Joint Cover. It pays out on the first death and second death.
Two people are covered under the one policy. But only pays out on one death. For example "Joint Life, First death" will pay out when the first person dies, and nothing when the second person dies.