Survivorship Life Insurance
Definition of "Survivorship life insurance"
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.
Popular Insurance Terms
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Physical, moral, or financial circumstance of a life insurance applicant that sets him or her apart from a physically, morally, and financially sound standard applicant. The underwriting ...
A ceding company's premium to which the reinsurance premium factor is used to produce the reinsurance premium. ...
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Obligation of the insured to report losses from a covered peril to the insurance company or its representative as soon after its occurrence as possible. ...
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Form provided for an inspection report. ...
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