Second to die life insurance, also known as survivorship life insurance insures two lives; typically a husband and wife. Unlike traditional life insurance, the death benefit won't be paid out until the second insured person passes away. Second to die life insurance is intended to pay estate taxes after both spouses pass away. Estate taxes are based upon the total current asset value, so Second to Die Life Insurance can protect family estates such as real estate, property, family farms and other hard assets from liquidation. Additionally, if one spouse is uninsurable, a second to die life insurance policy can be easier to qualify for.
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