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HOME > INSURANCE > SURVIVORSHIP LIFE INSURANCE

Survivorship life insurance is a policy that insures two people and pays a benefit upon the second death, when estate taxes are due. The policy ownership can be designed so that your heirs pay no income, gift or estate taxes on the proceeds. They can then use this money to pay most or all of the estate taxes and settlement costs, without resorting to other more costly payment options. In general, as long as one spouse is healthy, both can be covered under a Survivorship Life policy. It’s easy to see why survivorship life insurance can be a low-cost solution to your future estate tax problems.

The Survivorship Life policy allows you to leverage your money now so you can leave more of your estate to your heirs in the future; place ownership of the policy with someone other than yourself, such as a child or an irrevocable trust, so that the proceeds will not be included as a part of the estate and will not be subject to estate taxes. The goal is to preserve your family’s legacy.