Survivorship Policies
What is Survivorship Life Insurance?
Survivorship Life Insurance is designed to cover two people on the one policy. A typical scenario is to have one person die and then upon the death of the second person, the proceeds of the policy will be issued to the heirs of the deceased. This kind of policy is beneficial when the estate of the deceased parties does not have enough liquid assets to be able to cover the immediate payment of estate duties. A family would normally have to find the money (and possibly liquidate assets) to pay these expenses and may turn to liquidating the estate assets at below market value just to accommodate them. A survivor life insurance policy will cover this kind of situation.
Survivorship Life Insurance is also often called "The Second To Die Life Insurance Policy".
Contact Mutual of Alabama to schedule your insurance and annuities consultation today.
Call us at (205) 240-4726 or Contact Us here!