jet screening
The process of evaluating simple applications for insurance as quickly as possible according to strictly defined underwriting criteria.

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joint and survivor annuity
An annuity under which a series of payments is made to two or more annuitants. The annuity payments continue until both or all of the annuitants have died. Also called a joint and last survivorship annuity.

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joint and survivorship option
A life insurance settlement option under which payments will be made to two or more payees. These payments will continue until both or all the named payees are deceased.

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joint credit life insurance
Credit life insurance that pays the full benefit amount to a lender upon the death of any of the cosigners of a loan.

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joint life and last survivor option (JL&S)
In Canada, a pension plan provision which provides for the continuation of pension benefits to the spouse of a retired plan participant after the death of the participant. The survivor's benefits, which usually are not as large as the original benefits, continue until the death of the spouse. The provision is required in most Canadian jurisdictions, unless the participant (with spouse approval) elects to forego it. A very similar provision, called a qualified joint and survivor (QJ&S) annuity, is required in the United States for qualified pension plans.

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joint whole life insurance policy
One insurance policy that covers two lives and that generally provides for payment of the proceeds at the time of the first insured's death.

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