Dictionary

a b c d e f g h i j k l m n o p q r s t u v w x y z
Jettison

A voluntary action to rid the ship of cargo in order to prevent further damage or peril.

Joint Life and Survivor Annuity

Payments are made to two annuitants with the survivor continuing to receive payments after the first annuitant dies.

Joint Life Annuity

Payments continue to two annuitants for only as long as both live. Payments stop entirely when the first annuitant dies. There is no survivorship, so monthly payments would actually be higher to the annuitants on a Joint Life Annuity than they would be on a Joint and Survivor Annuity, which pays until the last party dies.

Jumping Juvenile

Juvenile Life insurance on which the face amount increases by a multiple, usually five, of the original face amount when the insured reaches 21. Used as a marketing tool to sell Life insurance covering children, whose rates are extremely low.