The article discusses the potential usefulness of purchasing survivorship term insurance (second-to-die) as opposed to regular survivorship permanent (life) insurance. Traditionally, some families have purchased survivorship life insurance to help pay off an estimated estate tax bill after death. Yet, with the future of the estate tax in flux, survivorship term insurance - where some policies have an option to convert to life insurance - may be a good way to take a "wait and see" approach towards estate tax planning in the near future.
See Deirdre Wheatley-Liss, "Cheap Dollars to Replace Estate Taxes? Survivorship Term Insurance," jdsupra.com (Oct. 10, 2011).
Posted by Andrew Hodes, Associate Editor, Wealth Strategies Journal.
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