JOINT LIFE INSURANCE
Suppose two people, usually a couple, want to get insurance for themselves. In that case, they have an option of buying one insurance policy that covers both of them. This is known as mutual life insurance. It prevents them from the hustle of buying individual insurance policies and can be less expensive. The policy is limited to married couples; instead, two unmarried partners can also buy this policy. Most of the time, parents pursue joint life insurance to secure the financial future of the significant other and the children.