Second-to-die 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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Survivorship life

References in periodicals archive ?

Question--Why is the premium for survivorship life insurance so low relative to two single life insurance policies on the same insureds?

Chapter 15: Survivorship life

With the advent of survivorship life insurance, the ILIT has become the most popular and important estate planning legal document, next to the last will and testament, and is generally used to solve the problems of many individuals with taxable estates.

The "revocable-irrevocable" life insurance trust

Survivorship life insurance, especially when used with a life insurance trust, is one of the most beneficial vehicles in estate planning.

Survivorship life insurance: providing survival for charities

Funding a partial stock redemption with survivorship life insurance can be particularly attractive when the unlimited marital deduction is used at the first death, since it provides death proceeds at the second death, when the estate taxes can no longer be deferred.

Partial stock redemption

The strategy, leveraging survivorship life insurance, comes into play to help business owners like the boomer profiled here make the most of charitable gifting and lengthen their legacy.

Using SUL to lengthen a boomer's legacy

Several insurers have improved or added to their survivorship life insurance products to adjust to the changes in estate-tax laws.

Insurance Companies Sharpen Survivorship Portfolios

During the last few years a new type of insurance product, survivorship life insurance (SLI) or second-to-die insurance, has become an important tool for the estate planner.

Using a profit sharing plan as an estate planning tool

Survivorship life insurance, also referred to as second-to-die life insurance, has been primarily used for estate planning needs.

3 ways survivorship life can help younger clients

Funding a reverse Section 303 stock redemption with survivorship life insurance can be particularly attractive when the unlimited marital deduction is used at the first death, since it provides death proceeds at the second death, when the estate taxes can no longer be deferred.

Reverse Section 303

Survivorship life insurance can address that, since it provides an excellent means of guaranteeing how much money a couple will transfer to heirs.

Make the challenging economy a springboard for opportunity

Survivorship life insurance products have registered significant growth since 1996, according to Limra International, Windsor, Conn.

Survival Kit

Because no one can predict which spouse will survive, Survivorship Life Insurance (SLI) or second-to-die insurance was introduced several years ago.