Investopedia

Continue to Site »

Variable Survivorship Life Insurance

Filed Under »
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.

Articles Of Interest

  1.

    Vary Your Options With Variable Annuities And Insurance

    Find out how to get the customized insurance coverage you need and want.

  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. 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.

  4. 5 Mistakes That Can Ruin Your Life (Insurance)

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

  5. What is variable life insurance?

    Variable life insurance is a permanent life insurance policy with an investment component. The policy has a cash value account, which is invested in a number of sub-accounts available in the ...

  6. Top 5 Budgeting Questions Answered

    You don't need a degree to understand your money, begin saving and pay down debt.

  7. Tax Variations Of The HEART Act

    The HEART Act is designed to allow service members and reservists make a smooth financial transition into active duty and back into civilian life.

  8. 8 Qualities That Make A Good Insurance Agent

    Insurance agents must possess each of the following qualities in order to be successful.

  9. Can my insurance company refuse me coverage?

    Insurance isn't always as straightforward as other products. Insurers can deny coverage in many different instances:Non-Renewal An insurance company is not obligated to renew an insurance policy ...

  10. How old should you be to get life insurance?

    There's really no pre-determined age when it suddenly becomes necessary to take out a life insurance policy. However, if there are people who depend on your income - especially children or a ...
comments powered by Disqus
Marketplace
Hot Definitions

  1. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  2. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  3. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  4. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.

  5. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.

  6. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.
Trading Center
Array ( )
taggroups(for debug only):
Array ( [0] => Insurance [1] => What's New [2] => Life And Health Insurance Couple [3] => Life And Health Insurance Family [4] => Health And Home [5] => Personal Finance [6] => SEG (Insurance Shoppers) [7] => SEG (Insurance Shoppers:Type-Life) ) time:17ms