Life · Chapter 4 · Special Products
Survivorship Life (Second-to-Die)
Definition
Covers two+ lives, pays at the LAST death. Cheaper than separate policies; used in estate planning to fund estate taxes.
Exam tip
Joint = first-to-die. Survivorship = second-to-die.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
Related terms