If a contract provides a set amount of income for two or more persons with the income stopping upon the first death of the insured it is called a?

This type of contract is called a "joint life insurance policy." It provides a predetermined income to two or more insured individuals, with the payout ceasing upon the death of the first insured person. This arrangement is often used in scenariOS where income support is needed for beneficiaries, such as in business partnerships or for couples.