By: Steve Savant

Steve Savant — Tue, 10 Sep 2013 14:06:23 +0000

Joint last to die policies also may be known as second to die or survivorship life. The contract permits two policy insureds on one contract. It was originally conceived after the Martial deduction Act under the Economic Recovery Tax Act of 1981 and became law allowing the unlimited transfer of assets to the surviving spouse. Therefore, joint last to die polices were created to pay at the second death of the policy insured.

By: Peggy Mace

Peggy Mace — Tue, 10 Sep 2013 13:37:01 +0000

Joint last to die insurance is offered in Canada. It is similar to survivorship, or "second to die" life insurance offered in the United States. The joint last to die policy is owned by two or more people and does not pay out the death benefit until the last insured person dies.

New answer on: What Is Joint Last To Die Life Insurance?

By: Steve Savant

By: Peggy Mace