“Second-to-Die” Policy

What is a Join Life Insurance Policy?

Joint Life Insurance Policy,with a Second to Die provision, is life insurance on the lives of two people and pays a death benefits only after both individuals pass away. Joint life insurance requires less premium than comparable individual insurance which makes this type of contract ideal for various estate planning goals.

joint universal life insurance

Who should buy a “Second to Die” life insurance policy?

Second to Die joint life universal life policies are idea for various estate planning goals. The lower premium requirements, the tax deferred growth of any cash value and the tax free death benefit make this contract an ideal funding source for various trusts. Couples who use second to die life insurance are able to utilize annual gifts efficiently in a tax efficient manner to create estates to fund various estate planning goals such as:

    • Pay estate taxes
    • Equal inheritances
    • Create charitable gifts
    • Provide for a person with a special need

The death benefit on joint universal life insurance can also be used to provide long-term care benefits to the insured individuals. Talk to a Decision Tree Financial life insurance advisor to see if a joint life insurance policy is the right solution for you.

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