Survivorship Insurance
Survivorship Insurance is a type of insurance where two married people are insured, but the benefits will be collected by their children only after both insured people dies. Regular insurance will provide benefits to the surviving partner, and is the opposite than in the case of survivorship insurance, which is designed to benefit the heirs of insured people.
Survivorship Insurance is also called Second-To-Die Insurance and Dual-Life Insurance.
| Related Terms: |