Second-to-die insurance

(redirected from Second-to-Die)

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.
Mentioned in ?
References in periodicals archive ?
Second-to-die life insurance, also called survivorship life, is most closely associated with the payment of federal estate taxes.
The nine lives of second-to-die: second-to-die policies can help with estate taxes, but that's far from all
With a "second-to-die," "survivorship," or "joint and survivor" policy, proceeds are payable at the death of the last survivor.
Multiple-life life insurance
Second-to-die policies are permanent, not a term policy, and are typically cheaper than other types of policies, she said.
Fulfilling special needs: insurers are playing a critical role in helping families with children with special needs meet the emotional and financially challenging task of planning for the future
entered into a split-dollar plan (a way to pay for life insurance) for a $3 million second-to-die life insurance policy (on the lives of Joe and his wife) to be owned by an irrevocable life insurance trust (ILIT).
An easy way to create tax-free wealth
The unlimited marital deduction and second-to-die (or survivorship) life insurance were made for each other.
Understanding second-to-die coverage: an update
58 costs, but later ruled that the insurer's lowest yearly renewable standard term rates could be used.(4) The IRS later ruled that when an SDLI plan involves a second-to-die life insurance policy the cost of one-year term insurance may be based on the rates in joint-life Table 38, U.S.
Is split-dollar life insurance still a fringe benefit?
This has led to the growth in popularity of the so-called second-to-die life insurance policy.
Creative uses of life insurance
Also, the IRA Conversion Plan provides a program to increase the after-tax size of an inheritance by using distributions for the purchase of life insurance inside an irrevocable trust; a Spousal Lifetime Support provides for needs of a surviving spouse through second-to-die insurance; a Flexible Irrevocable Trust covers estate-tax liquidity needs; and a Standby Trust addresses the uncertainties of the estate-tax phaseout by allowing an insured couple to put off placing a survivorship policy into an irrevocable life insurance trust until after the first spouse's death.
Phoenix Adds to LifePlan Strategies. (New Products and Services)
Second-to-die life insurance pays a benefit at the death of the second of two insureds (usually a spouse).
The characteristics and dangers of second-to-die life insurance
Hancock Launches New Version Of Variable Second-to-Die Plan:
New Products and Services
"For the first quarter, based on Limra statistics, we were the largest seller of second-to-die life insurance," said Dennis Catanzano, vice president of product research and evaluation for Lincoln National.
Estate Tax Uncertainty Equals Opportunity for Some Insurers
moved ahead in February with plans to launch a flexible-premium survivorship variable universal life policy, the latest of several insurers in recent months to introduce second-to-die products.
Survival Kit

Financial browser ?
Full browser ?