Survivorship Life Insurance
Survivorship life insurance insures two people, typically a husband and a wife, under one policy. Survivorship life insurance policies are generally available as either whole or universal life policies.
Survivorship insurance is designed to pay or assist paying for estate taxes. When one spouse passes away, the survivorship life insurance policy does not pay out at that moment. The benefit is not paid to the beneficiary until the death of the second insured.
There are many benefits to choosing survivorship insurance from Keystone Insurers Group. The fact that one policy covers both husband and wife makes it so you don’t have worry about juggling two life insurance policies. Another important benefit of survivorship life insurance is that the premiums are often less expensive than if you purchased two separate policies. This saves money while putting life insurance in place for both spouses.
Contact Keystone Insurers Group today to find out if survivorship life insurance is right for you and your spouse.