Joint Life Loan Protection Insurance protects both the borrower and spouse, or any other co-borrower who is jointly and equally responsible for repayment of a loan. Should either named borrower die, the balance of the loan is reduced or paid off subject to the coverage limitations and policy maximum. This coverage is automatically provided on all eligible new loans, as well as refinanced loans. This “coverage built for two” is available at an additional charge. Contact us for more information.