Which type of life insurance policy is written under a single contract for both spouses in which it is payable upon the first death?

Survivorship policies, often referred to as survivorship life insurance, are structured to pay out the death benefit only after both insured individuals have passed away. This type of policy does not provide immediate financial support upon the death of the first spouse, which is a key feature of the joint life insurance policy.

Dual capacity is not a recognized type of life insurance policy in standard terminology. This term may refer to situations where an individual has multiple roles or capacities, but it does not pertain to any specific life insurance product. Therefore, it does not fit the criteria outlined in the question regarding a policy covering both spouses.

Spousal life insurance generally refers to policies that cover one spouse, often with the option to add the other spouse. It does not specifically denote a policy that is written under a single contract for both spouses, nor does it ensure payment upon the first death, which is characteristic of a joint life insurance policy.