Survivorship Life Second To Die Life Insurance

Survivorship (Second To Die) Life Insurance

Life insurance that works as hard as you do

For many, leaving a legacy and taking care of those who matter most is an important objective. After all, it’s survivorship whole life insurance how you will be remembered. Whether it’s leaving an inheritance to your heirs, transitioning your family business to the next generation, ensuring that a loved one with a disability or other special need is appropriately cared for, or making a financial contribution to your favorite charity, your situation demands special attention. Survivorship Whole Life insurance ( also known as second - to - die )is an effective tool for helping to ensure that your dreams are realized, your goals achieved and your needs fulfilled. It insures two lives under one permanent life insurance policy with just one premium. Survivorship life insurance pays a death benefit to your beneficiary after both insureds have died and typically costs less than two individual policies. It provides needed liquidity for your estate, protects your assets and helps you plan for how you will be remembered.

Preserve what you’ve built

Under current tax laws, estate assets can pass from one spouse to the other free of estate and gift taxes.While this ensures protection for your spouse, it can place a significant tax burden on your heirs. The future of your business could be adversely affected, your family finances left to risk. Survivorship Whole Life can be an effective planning vehicle to ensure that your family has the liquidity needed to keep your legacy alive. If you have developed a significant amount of wealth and want to factor life insurance into your overall estate plan, Survivorship Whole Life may be a solution. That’s because life insurance proceeds are generally paid income tax-free. In addition, the policy ownership may be arranged so that the death benefit payment is excluded from your and your spouse’s taxable estate. Without an effective estate plan, taxes could seriously erode any wealth that you wish to pass on to your heirs. Survivorship Whole Life insurance can provide liquidity to protect your family and business. Our financial representatives, working together with your tax and legal advisors, can advise you on how to best use Survivorship Whole Life insurance to help preserve your assets for your loved ones.

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Like other whole life products, Survivorship Whole Life insurance provides your heirs with a guaranteed death benefit and eligibility to receive dividends and build cash value tax-deferred.1 These guarantees and cash values can give your planning a level of security and flexibility that may not be found in other survivorship policies.And like traditional individual whole life insurance, you can access your cash value for any of life’s expected or unexpected opportunities and challenges.2

With Survivorship Whole Life you can count on:

• A guaranteed death benefit paid to your heirs upon the death of both insureds

• Guaranteed cash value growth

• Guaranteed premiums that won’t increase regardless of health or age

• Eligibility of Dividends₁

Protecting your special needs

If you are the parent or caregiver of a child with a disability or other special need, you know all too well the worries about who will care for that child, and how you will pay for that care, in the event you die first. Upon death, proceeds from a Survivorship Whole Life policy can be put into a special needs trust to make funds available for your child’s care and financial security without disqualifying them from eligibility for federal benefits.₃Call us today at 866-392-INFO (4636)

Our employees and representatives are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel.

1 Dividends are not guaranteed 2 Distributions under your policy (including cash dividends and partial/full surrenders) are not subject to taxation up to the amount paid into the policy (your cost basis). If the policy is a Modified Endowment Contract, policy loans and/or distributions are taxable to the extent of gain and are subject to a 10%tax penalty. Access to cash values through borrowing or partial surrenders can reduce the policy’s cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured. 3 The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties.

The information provided is not written or intended as tax or legal advice. Our representatives are not authorized to give tax or legal advice. Individuals and business owners are encouraged to seek professional advice from their own tax or legal counsel.