SECOND TO DIE INSURANCE
Understanding Life Insurance
Second to die insurance is a way for two partners to secure their children’s finances after their death. Also known as dual life insurance or survival life insurance, this type of life insurance policy takes effect when both you and your spouse have passed away. Your offspring may then receive the death benefits guaranteed by the insurance policy helping them have a substantial financial standing. Survival life insurance helps parents look out for their children’s future by creating a financial backup for them to rely on when the time comes.
When the last surviving person listed on the policy passes away, their beneficiaries are provided with the monetary benefits. Typically, this means that after the second parent has also passed away, the insurance policy is applicable to the children. It’s important to note that second to die life insurance doesn’t apply when a spouse dies. Only after the death of the surviving partner are the terms applicable.
Dating back to the 1980s, the second to die policy has helped thousands of families in preventing total depletion of their finances and paying off estate bills over the years. It has several advantages which make it a preferred insurance option for parents. Second to die life insurance:
- Less expensive and more economical
- Makes insurance qualification easier
- Helps in estate planning
- Provides estate security & estate building
Make Your Children’s Future Financially Secure
IGF Insurance Brokerage provides second to die insurance to parents to help them secure their child’s future. By providing them with the financial resources necessary, the policy helps resolve sudden and unexpected financial crises at the time of the second parent’s death, and helps compensate for the loss of income.
Sign up for your insurance policy with us now for your child’s secure future!
We've Got You Covered
The IFG Insurance Brokerage Three Step Process
In our first meeting, we’ll get to know each other. We will talk about what your financial objectives are, and what it is that you’d like to accomplish with your financial plan. We will also share a little bit about our financial planning strategies and what we can do to help you achieve your goals.
Building Your Plan
In our next meeting, we will begin building your plan. We will cover Social Security, Pensions, 401k’s, and Medicare, as well as your lifestyle and other factors that can affect your retirement income. We will also discuss how to protect your financial future from unexpected expenses and life events.
As life changes, so should your plans. We will meet with you on a regular basis to re-evaluate your financial plan and make adjustments as necessary. We will work hard to ensure that you are always on target to achieve all your financial goals and objectives.