Variable Survivorship Life Insurance

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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.

Search results for

'Variable Survivorship Life Insurance'

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    http://www.investopedia.com/articles/pf/07/permanent_life_insurance_taxes.asp
    ... ILIT to purchase a permanent survivorship life insurance policy ... Others, however,
    such as variable universal life ... much you can put into permanent life insurance. ...

  • Estate Planning: Life Insurance In Estate Planning | Investopedia

    http://www.investopedia.com/university/estate-planning/estate-planning10.asp
    ... Variable Universal Life Insurance.) Types of Insurance First-to-Die Life ... Survivorship
    Life Insurance Policy Survivorship life insurance, also know as second-to ...

  • Series 6 Study Guide - Customer Accounts - Classification of ...

    http://www.investopedia.com/exam-guide/finra-series-6/customer-accounts/classification-accounts.asp
    ... 12.8 Variable Annuity Charges; 12.9 Variable Life Insurance. Chapter 13 - 13: 13. ...
    as Tenants in Common (TIC), Joint Tenants with Right of Survivorship (JTWROS) or ...

  • Series 26 Study Guide - Mutual Fund Accounts - Opening a New ...

    http://www.investopedia.com/exam-guide/series-26/mutual-fund-accounts/opening-account.asp
    ... Joint accounts may be designated as tenants in common (TIC), joint tenants with
    right of survivorship (JTWROS) or tenants by entirety (TBE). ...

  • Series 6 Study Guide - Customer Accounts - Death or Incompetence ...

    http://www.investopedia.com/exam-guide/finra-series-6/customer-accounts/death-incompetence-account-owner.asp
    ... Joint Tenants with Right of Survivorship: Upon death or incompetence of any or all
    of the account owners, the ownership passes to the survivor(s). Each account ...

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