Last To Die

Life insurance for last to die is when you have two or more people insured on the same policy. The death benefit is paid out when the last person on the policy dies.

This is the reverse of a first to die policy and is less expensive than the first to die form. People will use this type of policy to protect the estate value for their children if they expect a large capital gains tax due upon the death of the last parent. Another way that this policy is useful is when one of the two people has health problems and so would have some difficulty obtaining an individual life insurance policy.

As with all life insurance products, you should talk to your agent or broker about what is best in your particular situation.