That is why spouses are most likely to choose second to die life insurance policy because of common need, as well as lower cost. (lifequote.com)
Thus, the usefulness of a second to die life insurance policy becomes self evident because the payout of a death benefit occurs upon the last spouse's death. (insuranceandestates.com)
First to die life insurance policies pay out the death benefit solely on the first named insured that dies. (lifeinsure.com)