What is a Survivorship Universal Life Insurance Policy?
A Survivorship life insurance policy is different from an individual universal life insurance policy in that the policy insures the lives of two people (usually a husband and wife). The policy proceeds are only paid out upon the death of the second insured. All of the survivorship universal life insurance policies ‘ ); document.write( addy_text27696 ); document.write( ” ); //–> ‘ ); //–> This e-mail address is being protected from spambots. You need JavaScript enabled to view it ‘ ); //–> feature premiums that remain fixed and guaranteed for the life of both insureds. What is the main reason to purchase a survivorship policy instead of an individual policy? Survivorship life insurance policies are a very effective tool that can reduce estate tax liability. The use of an Irrevocable Life Insurance Trust (ILIT) combined with a survivorship universal life insurance policy can be a most valuable strategy to shift the burden of payment of an estate tax, when due, to another entity. Rath
