What is the Definition of Survivorship Life Insurance?

What is the Definition of Survivorship Life Insurance?

A form of insurance that covers more than one person and pays a benefit after all of the insureds die. It can be used to help pay estate taxes after the deaths of a husband and wife or as a form of business continuation insurance. Also known as second-todie life insurance.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Survivorship Life Insurance?

You can find random definition and meaning of insurance terms below:


What is the meaning of Mortgage Guaranty

insurance that indemnifies a lender for loss upon foreclosure if a borrower fails to meet required mortgage payments.


What is the meaning of Mortgage Insurance

a form of life insurance coverage payable to a third party lender/mortgagee upon the death of the insured/mortgagor for loss of loan payments.


What is the meaning of Mortgage-Backed Securities

a type of asset-backed security that is secured by a mortgage or collection of mortgages. These securities must also be grouped in one of the top two ratings as determined by an accredited credit rating agency, and usually pay periodic payments that are similar to coupon payments. Furthermore, the mortgage must have originated from a regulated and authorized financial institution.


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