Survivorship Life Insurance

Definition of "Survivorship life insurance"

Amanda  Labrador real estate agent
Amanda Labrador, Real Estate Agent Re/Max Advisors

Coverage on more than one person that pays a benefit after all of the insureds die. This type of joint life policy is significantly cheaper than a regular policy. Survivorship life insurance might be used to help fund estate taxes after the deaths of a husband and wife or as a form of business continuation insurance.

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