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.