Life Insurance for Multiple Insureds
Multiple people can be covered under a single life insurance policy. Multiple-life policies vary greatly in behavior and can serve a diversity of purposes.
Group life insurance
Group life insurance is a popular business purchase. With group life insurance, many people are covered by a single policy. Each covered death elicits a death benefit for the beneficiaries of the decedent’s choosing. (click here)
Last-to-die life insurance
Survivorship life insurance (also joint life insurance or last-to-die life insurance) pays its death benefit only after both of the insureds die. (click here)
First-to-die life insurance
Yes, there are even life insurance policies which pay a death benefit only after the first of multiple insured lives expires. First-to-die life insurance may be useful for married couples with children.
Riders
Riders can serve a myriad of functions, including extending life insurance coverage to individuals other than the primary insured. Certain riders exist for covering spouses and/or offspring under a single life insurance policy.
To shop for any of the aforesaid types of life insurance or to learn more from a licensed life insurance advisor, call 1-800-823-4852 today.
