Thanks for taking the time to explain.
So the joint ownership enabled GBC to skip the will/estate/beneficiary aspect, and hypothetically more quickly access the insurance payout (unless, of course, he happened to get arrested for murder first ... and forgot that he needed the actual death certificate first, not just reports from MSM to prove his wife's death!)
Would GBC have set it up that way, using his accounting knowledge to know the benefits for him of having it jointly owned, or, is this a common thing to do??