Second-to-die insurance

(redirected from survivorship life insurance)
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Second-to-die insurance

Insurance policy that, on the death of the spouse dying last, pays a death benefit to the heirs that is designed to cover estate taxes.

Second-to-Die Insurance

An insurance policy that covers a married couple and pays the death benefit on the death of the second spouse. Generally speaking, the death benefit is intended to cover the estate tax. Because the second spouse does not owe the estate tax upon the death of the first spouse, second to die insurance helps the heirs of the married couple rather than either the husband or the wife. It is also called survivorship life insurance or dual-life insurance.
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CINCINNATI -- Columbus Life Insurance Company, a highly rated insurance provider based in Cincinnati, Ohio, has introduced a new survivorship life insurance series with a compelling mix of product features and high-demand for the affluent market.
The new term offerings complement Phoenix's comprehensive and competitive portfolio of permanent products, including universal, variable universal, joint and survivorship life insurance.
With the addition of the three survivorship policies, we have arguably the most extensive and competitive survivorship life insurance portfolio in the state," said Roland Fawthrop, second vice president and actuary, MassMutual.
today introduced a new initiative, a comprehensive "Phoenix LifePlan Program", enabling the high net worth to restructure their individual or survivorship life insurance products 5, 10 and 15 years after the policy has been issued.
A survivorship life insurance policy, the MONY Custom SUL provides for a death benefit on the last surviving insured and therefore, is more cost-effective than two individual policies on the same individuals.
is adding an option to its survivorship life insurance policies issued June 7, 2001, or later, which will allow policyowners to fully surrender their inforce contracts during the calendar year 2010 with no surrender penalties if the repeal of federal estate taxes extends beyond Dec.
TransSurvivor(SM) Life VUL leverages Transamerica Occidental Life's extensive survivorship life insurance experience, including the company's underwriting expertise.
The Company pioneered the concept of survivorship life insurance and currently has the largest inforce block of these policies and the most extensive survivorship portfolio in the U.
Families with large taxable estates, professional couples with children, estates with non-liquid assets, dependents with special needs and wealthy couples can all greatly benefit through variable survivorship life insurance for effective preservation of estate wealth.