Joint life and survivor insurance is a type of life insurance coverage for more than one person, typically couples. With joint life and survivor insurance, benefits are not paid until the both policyholders have died. Lower premiums exist on this policy than on individual life policies because of the potential for a much longer period of time before the policy is called upon to pay benefits. Joint life and survivorship insurance is a tool often used to help pay estate taxes, because estate taxes can be delayed until both husband and wife die.
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