I read a blog entry today by an estate planning attorney on survivorship Life insurance, also called second-to-die life insurance. It’s a good way for husband and wife to settle their estate. A life insurance benefit is paid out when the last surviving spouse passes away. The last person standing, so to speak. Your estate may be help up in probate. Selling your house may take time. Life insurance can provide liquidity during this period.
Coverage for a couple is available even if one of you is uninsurable because of cancer, heart disease, COPD, or whatever. You get a lower price if you’re both insurable, but this is a key point: if at least one of you can get covered, both of you can obtain a life insurance policy.
They are not that expensive either, sort of two for the price of one.