What Are the Advantages of Second to Die Insurance Policies?

There are different types of life insurance that you can choose from. However, out of all of them, second to die insurance policies are the most sought after, especially by couples. If you and your partner are still debating on whether second to die life insurance will be a good investment for you, keep reading.

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However, before we jump right in, it is important for you to understand what exactly a second to die insurance policy is.It is the type of life insurance policy that covers two individuals (mainly couples) and is meant to provide death benefits to the couple’s heirs only after both spouses pass on. Unlike the standard life insurance, in second to die insurance policy, the surviving spouse doesn’t receive any benefits after their partner dies. Consequently, second to die policies are used for estate planning.

With that said, here are 5 advantages of second to die insurance (or survivorship insurance) polices. Read on, and be sure to shop for a life insurance policy that is favorable depending on your specific needs.

It is affordable
Second-to-die insurance often costs much less compared to the normal single life insurance policies. With survivorship polices, the premium is primarily based on the shared life expectancy of the insured lives. And since your insurance company owes you nothing up until you are both gone, the premium will be considerably cheaper than buying you both separate polices.

It is inheritable
As we all know, the main purpose of a survivorship policy is the fact that it is meant to offer financial stability to your children once you and your spouse die. If you have children (or heirs) that have special needs, then this would be a good way to set up an inheritance that will definitely come in handy once you and your partner are long gone.

• It builds your estate
Other than inheritance, survivorship or second to die insurance is also promoted as a way to build an estate, not just protect it from taxes. Just like the standard life insurance, the death benefit of a second to die policy ensures that your beneficiaries receive a substantial financial boost, even if you spend every dime during your lifetime.

• It protects your estate
A survivorship life insurance policy is the only policy that protects your estate once you are gone and also preserves your assets for your heirs. Therefore, if you are shopping for an insurance policy that will easily transfer your assets to you heirs, then second to die is the one for you. It is something that you should invest in if you care about the future of your heirs.

• It is lenient
Have you ever been declined for a life insurance policy maybe because of a health condition? Well, the good news is that second to die insurance policies are lenient and compassionate. You can still cater for your children even if you and your partner are not in good health.


Kelly Wilson is a professional blogger. Through her posts, couples have learnt a lot about life insurance policies. To learn more about this kind of life insurance, go to https://www.beamalife.com/.

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