When to Consider Survivorship Insurance

  • You cannot afford individual term policies.
  • Your spouse has been previously denied a life insurance policy due to poor health.
  • Your family wants a cash-value life insurance policy.

While survivorship plans do not provide compensation to surviving spouses, they provide other distinct advantages.

The Advantages of Survivorship Insurance

  • Cost. Survivorship plans usually cost significantly less than single-insured life insurance policies.
  • Approvability. Insurance companies typically offer better, more flexible rates for survivorship plans, especially if one spouse is in reasonably good health.
  • Estate preservation. A survivorship policy could bolster couples’ estate planning aspirations since a policy should provide near-guaranteed compensation for their named beneficiaries.
Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.
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