Sentences with phrase «survivor upon the death of the insured»

The policies offer life insurance coverage that pays money to a designated survivor upon the death of the insured person.

It is insurance that provides a cash benefit to survivors upon the death of the insured person.

Not exact matches

Simply put, second to die or survivorship life insurance differs from all the other types of life insurance because it insures the lives of two people AND only pays a death benefit upon the death of the last survivor.

Also known asjoint survivor life insurance or second to die life insurance, this type of policy is typically used to pay estate taxes upon the death of the second insured.

Also known assurvivorship life insurance or joint survivor life insurance, this type of policy is typically used to pay estate taxes upon the death of the second insured.

Simply put, second to die or survivorship life insurance differs from all the other types of life insurance because it insures the lives of two people AND only pays a death benefit upon the death of the last survivor.