Insurance Agent Forum

[bluemarlin08]

Are there any companies that offer a second to die term policy?

[James]

Originally Posted by bluemarlin08

Are there any companies that offer a second to die term policy?

I can not think of one.

[bobson]

Originally Posted by bluemarlin08

Are there any companies that offer a second to die term policy?

The only reason to offer second to die insurance is that you want a death benefit claim to be paid. It is a guarentee that at some point the insurance company is going to write a check. No such guarentees exist with term insurance. In fact 99% of the time they never pay on one death.

[slushhhpuppie]

Originally Posted by bobson

The only reason to offer second to die insurance is that you want a death benefit claim to be paid. It is a guarentee that at some point the insurance company is going to write a check. No such guarentees exist with term insurance. In fact 99% of the time they never pay on one death.

Survivorship (aka 2nd to die) Life is typically for use in Estate Tax Planning. I've never heard of carriers offering it as a term product.

[bluemarlin08]

This is an estate planning case that the client might want to protect insurability and convert to a permanent policy. Manulife and West Coast use to have such a product.

[RTD19701]

Lincoln Benefit LIfe?

[lifeinsuranceguy]

West Coast still has their second-to-die term policy. It's called the "Golden Legacy Term."

[djs]

Great question! 2nd to die type of policies probably aren't used enough to deal with estate issues. I'm glad you asked, because I have a case where I need a second to die policy as well. I'd rather sell it as a perm policy, but I'm not sure that is going to happen.

Dan

[bluemarlin08]

Discovered West Coast had the product. Client can't cash flow the perm premium, currently, although high net worth, all in RE and close held business. Plans to sell within 3 years, then fund the perm, decided to buy 5 mill STD term, 4500 per year, 10 year guarantee.