Survivorship Life Insurance - How to protect your heirs and your legacy
Survivorship Life Insurance, also known as Joint Survivorship Life Insurance, are life insurance policies that insure the lives of two people, typically a husband and a wife. The death benefit is not paid to the beneficiary until the death of the second insured. These Survivorship Insurance policies are generally available as either whole or universal life policies, and Survivorship Life Insurance often provides more affordable life insurance than two separate policies.
The reason a Survivorship Life Insurance policy doesn't pay until the second person dies is that it is designed to pay or assist paying for estate taxes. Estate taxes can be delayed until both spouses die thus the design of these special insurance policies.
Survivorship Life Insurance policies are highly effective life insurance policies often utilized by wealthy individuals in estate planning. By removing the proceeds of a life insurance policy through the use of gifting and placing policies in third party ownership such as a trust or in the name of children, a joint and survivor policy can be used to pay for estate taxes. Careful planning by your tax and legal counsel, coupled with a properly structured Survivorship Life Insurance policy, can help you preserve your net worth for your heirs.
CONFIDENTIAL CONSULTATION
Insurance Quotes on Survivorship Life Insurance Policies
If you want the most competitive life insurance quotes on Survivorship Life Insurance policies, Legacy Quote has access to the leading and most competitive Survivorship Life Insurance policies available. Call us so we can prepare the most competitive quotes available or click here to email us information.
REQUEST A QUOTE |
