Variable Survivorship Life Insurance

Dictionary Says

Definition of 'Variable Survivorship Life Insurance'

A type of variable life insurance policy that covers two individuals and pays a death benefit to a beneficiary, only after both people have died. Variable Survivorship Life Insurance does not pay any benefit when the first policyholder dies.

Variable survivorship life insurance is also called "survivorship variable life insurance" or "last survivor life insurance."

Investopedia Says

Investopedia explains 'Variable Survivorship Life Insurance'

Like any variable life policy, variable survivorship life insurance has a cash value component in which a portion of each premium payment is set aside to be invested by the policyholder, who bears all investment risk. The insurer selects several dozen investment options from which the policyholder may choose. The other portion of the premium goes toward administrative expenses and the policy's death benefit (also called face value). This type of policy is legally considered a security, because of its investment component, and is subject to regulation by the Securities and Exchange Commission.

 A more flexible version of variable survivorship life insurance called "variable universal survivorship life insurance" allows the policyholder to adjust the policy's premiums and death benefit during the policy's life.

Sign Up For Term of the Day!

Try Our Stock Simulator!

Test your trading skills!

Related Definitions

  1. Permanent Life Insurance

    An umbrella term ...
  2. With Benefit Of Survivorship

    A form of joint ...
  3. Life Insurance

    A protection ...
  4. Universal Life Insurance

    A type of ...
  5. Term Life Insurance

    A policy with a ...
  6. Variable Life Insurance Policy

    A form of ...
  7. Death Benefit

    The amount on a ...
  8. National Average Wage Index - NAWI

    An index ...
  9. 403(b) Plan

    A retirement ...
  10. Financial Intermediary

    An entity that ...

Articles Of Interest

  1. What is variable life insurance?

  2. Variable Vs. Variable Universal Life Insurance

    Do you know why you might need one policy versus the other? Read on to find out.
  3. Intro To Insurance: Types Of Life Insurance

    Having the right kind of insurance is a critical component of any good financial plan.
  4. Life Insurance: Putting A Price On Peace Of Mind

    Would your death leave loved ones financially stranded? Find out how to ease your mind and keep them protected.
  5. Vary Your Options With Variable Annuities And Insurance

    Find out how to get the customized insurance coverage you need and want.
  6. 5 Mistakes That Can Ruin Your Life (Insurance)

    Don't let these simple errors leave you unprotected. Read on to learn more.
  7. Market Capitalization Defined

    Find out the differences between mega-, large-, mid- and small-cap stocks and how each suits different investing styles.
  8. In Small Business, Success Is Spelled With 5 "C"s

    Incorporating these steps will help your business thrive in a competitive market.
  9. Retirement Savings Tips For 35- To 44-Year-Olds

    Learn how the "sandwich generation" can save for retirement while taking care of their kids and parents.
  10. Is Loan Protection Insurance Right For You?

    This coverage can keep you from defaulting on your loans when you're in financial trouble.

comments powered by Disqus
Recommended
Loading, please wait...
Trading Center