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
Process whereby a ceding company resumes the insuring of a portfolio of insurance policies which it had previously CEDED to a REINSURER. ...
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Probability of loss upon which a basic premium rate is calculated. ...
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