Tips on the Advantages of Survivorship Life Insurance

• This type of policy, also called a second to die policy, allows couples to protect the bulk of their assets regardless of which partner dies first. Because survivorship policies eliminate the agony of second guessing about which partner will go first, the entire family has the flexibility to concentrate on one plan that yields the most benefit for the heirs.

• Not only does this plan protect or replace assets expended through estate taxes, it usually costs less than individual policies.

• It can be discouraging to learn that life insurance is not available to a potential policy holder because of certain underwriting restrictions. In some cases, survivorship life insurance uses more flexible underwriting guidelines thus making critical coverage available to those that need it.

• Life expectancy rates are on the rise. What does that mean for children with special needs? Survivorship life insurance gives parents of children with special needs the tools to provide for their care as long as is necessary. Of course being there is preferable, but in a parent’s absence there must be a plan in place that guarantees ongoing care for children unable to support themselves.