Is Second-to-Die or Survivorship life insurance available to diabetics and their spouses or business partners?
Yes, assuming that both parties are able to qualify. An interesting feature of survivorship or Second To Die life insurance is that since the policy pays at the second passing, many companies will allow for one of the covered persons to be Uninsurable (usually defined as life expectancy of 6 months or more, but can vary among companies) as long as the other is relatively healthy. For the severe diabetic, this can mean the difference between being able to get coverage or not. However, Second-to-Die policies are mainly estate or business planning tools designed to pay death benefit at the second passing and shouldn’t be utilized if first to die coverage is needed.
