Variable Survivorship Life Insurance is an insurance product designed to provide life insurance protection for couples by offering them more flexibility when it comes to accumulating and disbursing funds. This type of insurance is particularly beneficial for couples who wish to plan for their retirement, secure a loan or meet any other financial needs that may arise as each partner progresses through their life cycle.

Variable Survivorship Life Insurance lets the two partners share a single policy, with the survivor receiving the death benefit when either partner dies. This type of policy is sometimes referred to as a joint life insurance policy or second-to-die policy, because the death benefit is paid out only upon the death of the second partner.

One of the main advantages of Variable Survivorship Life Insurance is that it allows the two partners to save and invest funds in flexible investment options. This means that rather than having to invest the funds separately, they will be working as a couple to secure their financial future. Couples also benefit from the death benefit being set at the time of policy purchase and no changes made to it over time.

Another advantage of this insurance is that it helps protect financial assets from estate taxes and debts, since the death benefits are generally paid directly to the beneficiary and do not count as part of the decedent’s estate. This helps the other partner avoid probate costs and uncertainty as to who will receive the inheritance.

Variable Survivorship Life Insurance is specifically designed for couples and is a great way for them to secure individual and joint financial security. With the flexibility and low costs associated with this policy, it is easy to see why it has become a popular choice for couples looking to secure their financial future.