Second-To-Die Policy

Examining the Unique and Versatile Second-To-Die Policy

Life insurance coverage is one of the greatest gifts you can accord your lovely family. While death is not the easiest thing to think about, you appreciate its certainty, which makes such insurance coverage all the more important.

Well, Second-To-Die Policy is the newest type of policy under the broader category of life insurance, and it is imperative for you to get insight into it as a household owner. Here are some highlights of this relatively new insurance coverage to give you some grounding:

Defining Second-To-Die Policy:

This type of coverage is a single policy where two lives are insured, in this case a husband and wife. Once the first spouse dies, no benefits are paid, and instead, the policy remains in force with the 2nd spouse paying the premiums. Only after the 2nd spouse dies do beneficiaries start getting benefits. It is also referred to as survivorship life insurance.

Benefits of survivorship life insurance

In this type of policy, the parents are thinking about their children and not themselves. This policy, according to industry observers, offers benefits including:

You love your family so much, why not gift them survivorship life insurance and protect them even when you are gone?