Rob, Joe, and Mike are brothers who have a $60,000 "first-to-die" Joint life policy covering all three of their lives. If Joe dies first, the policy proceeds

Rob, Joe, and Mike are brothers who have a $60,000 "first-to-die" Joint life policy covering all three of their lives. If Joe dies first, the policy proceeds
A . will not provide further insurance protection.
B . must be shared equally by Rob and Joe’s wife.
C . will accumulate with interest until another brother dies and then be awarded to the surviving brother.
D . must be awarded to Joe’s estate.

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Answer: A