The definitions in this glossary are developed by the NAIC Research and Actuarial Department staff based on various insurance references. These definitions represent a common or general use of the term. Some words and/or phrases may be defined differently by other entities, or used in a context such that the definition shown may not be applicable. naic.org
Joint and Last Survivor Annuity – retirement plan that continues to payout so long as at least one, of two or more, annuitants is alive.
Joint Underwriting Association (JUA) – a loss-sharing mechanism combining several insurance companies to provide extra capacity due to type or size of exposure.
Joint-Life Annuity – an annuity contract that ceases upon the death of the first of two or more annuitants.