Life is a journey of acquiring all kinds of stuff—overpriced cars, fancy degrees, even that junk drawer filled with ticket stubs and dried-out hotel pens. These are the things that make a person feel accomplished. Sadly, they all stay behind when you “move on,” including any remaining taxes and medical bills. Luckily, second-to-die joint life insurance can help you and your spouse tie up any financial loose ends after you're both gone.
Our independent agents are here to help you tie those loose ends up super-tight. They’ll walk you through all the ins and outs of joint life insurance and eliminate the hassle of “the search” by delivering a hand-picked selection of top policies that are perfect for you.
Fears of death are common, but it's not just mortality itself that makes people want to plug their ears and hum loudly in denial. Many also fear being a financial burden on their heirs after they pass away, or they fear not leaving an inheritance behind to help pay for life-y things, like tuition. But sweeping it under the rug isn’t the answer, it just makes your rug all bumpy with avoided garbage underneath.
Having a life insurance policy can help establish a fund for your heirs so when that bell finally tolls, you'll know they have an inheritance coming. Life insurance can also help to pay for estate taxes or create estate liquidity, or simply be used as a tax-advantaged way to save and invest. So many options, huh?
Basically, it’s kinda like a BOGO. You pay a lower premium than buying policies separately and you get life insurance for two. It combines your and your partner's life insurance into one plan with one ultimate payout. Now, within joint life insurance, there are first- and second-to-die options. With a first-to-die policy, the benefit is paid out when the first of you “cashes in the chips." With second-to-die—you guessed it—the benefit payout comes after the second partner dies.
If a couple makes like a banana and splits, it may not be simple to halve their insurance policy. Separating a joint policy is often complicated, but asking for an insurance rider to amend the coverage to two separate plans in the event of a separation could prevent issues. Ask your agent about it before you sign over that first check.
Possibly. In general, sticking with a term policy for second-to-die insurance is most often a safe bet, especially for cost-benefit purposes. In addition to being able to specify the amount of time you want your coverage to last, a term policy will offer a significantly lower premium than a permanent policy.
There’s pretty much a life insurance option out there for everyone. If you’re ill, older, or just hate long commitments, there’s a policy that will match your needs. They all have their advantages and disadvantages. The best thing to do is just ask a trusted expert about your options and they’ll always help guide you toward the right route for you.
Insurance policies can be complex and confusing, and let's face it, browsing and discussing second-to-die life insurance policies can be downright depressing. Independent agents exist to simplify the process and save you some grief.
Independent agents are there to make sure you get the absolute best deal, and the one that meets your unique needs. They shop and compare insurance quotes for you, and they'll break down all the jargon so that you understand exactly what you're getting.
Our awesome and all-knowing agents will review your needs and help you evaluate which type of second-to-die joint life insurance makes the most sense for you. They'll also compare policies and quotes from multiple insurance companies to make sure you have the best protection out there. They'll hook you up—in a comprehensive and affordable way.