Survivorship life insurance provides the unique opportunity to insure two people on a single policy, typically spouses or business owners. Survivorship life insurance is useful when you want your beneficiary to receive a death benefit after the second insured dies.

Survivorship life insurance is often the product of choice for those looking to satisfy estate tax obligations, provide an inheritance, or make a charitable gift. It can also be useful in situations when two people need life insurance but individual coverage is costly because one of the proposed insureds may not be in optimal health.