Second-to-Die Insurance in Salt Lake City, UT

Take care of your family even after you’re gone with our affordable second-to-die policies. Contact us today to learn more.

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Second-to-Die Insurance
in Salt Lake City, UT

Take care of your family even after you’re gone with our affordable second-to-die policies. Contact us today to learn more.

Second-to-Die Insurance
in Salt Lake City, UT

Take care of your family even after you’re gone with our affordable second-to-die policies. Contact us today to learn more.

There are several good reasons to purchase a second-to-die policy in Salt Lake City, and our helpful team is here to help you find the coverage that’s right for you. Second-to-die policies are also known as dual-life insurance or survivorship insurance, and many people (usually married couples) choose these policies when they’re planning their estate.

To help you determine if a second-to-die policy is right for you, we’ve compiled a list of answers to commonly asked questions about how these policies work.

How do second-to-die policies work in Salt Lake City?

Unlike individual life insurance policies that are paid out in the event of an individual’s death, second-to-die policies aren’t paid out until both insured persons are deceased. With a second-to-die policy, no benefits are paid to your spouse once you pass away. Instead, these funds are held until both spouses have passed away, and the death benefit is then granted to the designated beneficiaries.

What are the benefits of second-to-die policies?

There are plenty of reasons couples choose second-to-die policies when planning their estate, some of which are useful to you now or will be helpful to your beneficiaries after your death.

Some of the benefits of second-to-die policies include:

  1. Lower premiums
  2. Easier to qualify
  3. Estate Maintenance
  4. Offsets taxes

Because one policy covers two people rather than one, the premium for a second-to-die policy tends to be less than two individual life insurance policies, which makes it a more economical option for many people.

Another reason to choose a second-to-die policy is that they have easier qualification standards. The health of both parties is considered when qualifying for a second-to-die policy, so if one person is in poor health, the other spouse’s good health may mean they’ll still both qualify for this insurance.

Why should I choose a second-to-die policy?

One of the most common reasons couples choose a second-to-die policy when planning their estate is that protects your children or beneficiaries from costly estate taxes after your death.

With a second-to-die policy, your beneficiaries can have the assurance they’ll receive a minimum amount of money to cover estate taxes once both policyholders are deceased. When beneficiaries face substantial inheritance taxes, second-to-die policies help offset these fees, giving you peace of mind that your loved ones are cared for after you’re gone.

Contact Salt Lake City Insurance today to find a second-to-die policy that fits your needs and your budget.

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How much is second-to-die insurance with Salt Lake City Insurance?
Second-to-die insurance policies vary in cost. It depends on your and your spouse’s health, your needs, and your budget. Call our team at Salt Lake City Insurance today to determine what the right second-to-die insurance policy is for you and your family.
Is second-to-die insurance taxable?
It is not taxable. Many individuals who are beneficiaries actually use second-to-die insurance to cover estate taxes once the second person has passed.
What is the difference between second-to-die insurance and regular life insurance?
Second-to-die insurance is paid out after both individuals on the insurance policy are deceased. In regular life insurance policies, the payout is conducted after the individual has passed. In other words, you and your spouse would have to both be deceased before any payout is made. In turn, it protects your heirs or beneficiaries upon your death. As previously mentioned, many individuals use this payout to cover expensive estate taxes. For more info, call our trusted agents at Salt Lake City Insurance today. Get the insurance you need at the budget you want.

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SALT LAKE CITY INSURANCE GROUP is your best option for comprehensive and budget-friendly coverage in the area. Our fast and friendly service saves you valuable time and money in finding the coverage you require for your family, your business, and your property. Contact us now to get started.

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