Joint life insurance covers two lives and pays out upon the death of either of the insured persons. Then it pays when the first person dies. The the title, "First to Die" life insurance.
This is not "Second to Die" life insurance, where the policy only pays when both insured persons pass. Joint life insurance pays once and then the policy ends.
Joint life insurance refers to a life insurance policy that has a primary insured and a secondary insured, usually a spouse, on the same policy. There is usually a bigger down side to these policies than an upside. These type of life insurance policies are usually term policies and when the primary or the secondary dies the remaining spouse will lose their coverage. The spouse will be underwritten along with the primary, so there is not a huge advantage to these policies. I recommend purchasing separate term life policies to protect your insurability. These policies are also called First to Die life insurance policies.
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This is not "Second to Die" life insurance, where the policy only pays when both insured persons pass. Joint life insurance pays once and then the policy ends.