What does Second Death Insurance mean? Read on to discover the definition & meaning of the term Second Death Insurance - to help you better understand the language used in insurance policies.
Second Death Insurance
Second death insurance (also known as dual-life insurance, survivorship policy, and second-to-die insurance) is a type of life insurance policy that only pays the death benefit when both both of the joint policyholders pass away. Unlike other life insurance policies, there is no death benefit paid if only one of the policyholders dies.
We hope the you have a better understanding of the meaning of Second Death Insurance.