Monday, March 22, 2010

Types of Life Insurance

Life InsuranceSurvivorship life insurance is a unique type of contract that guarantees the life of two people. You will get paid for the death of the second insured. Therefore, it is usually cheaper than two individual policies.

Insurance for the Preservation of life is often used for estate planning, where possible to take advantage of today has the potential dollars - via insurance premiums - a potentially significant death benefit that can be used to fund estate taxes, create wealth for future generations, or benefit a charity. This policy may be available if one insured is medically "uninsurable."

First-to-die life insurance guarantee life of at least two people and pays benefits upon the death of the insured first. This policy allows you to cover the mortgage or other large debt obligation where there is more than one debtor. Also, it can be an ideal tool for funding a buy-sell agreement in the business is held.

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