Double Payout

Taking out a joint life insurance policy is generally less expensive than two individual policies and offers some unique, strategic benefits. There are two options, identified according to the terms of the payout: joint first-to-die and joint last-to- die. Each has different uses, depending on your insurance needs.

Many companies offer a double benefit option on a joint first-to-die policy. It’s triggered if both you and your partner should pass away at the same time, or very close to each other. Your beneficiaries will receive double the death benefit.

This type of policy normally pays a benefit on the passing of the first partner. But this little-known option is protective if the very worst should happen. Consider the impact on your loved ones from a ‘simultaneous death’ such as a car or plane accident.

Ask your Carte Financial Advisor to explain how this feature works. How it could benefit your family. While simultaneous deaths rarely happen, this option can provide peace of mind from knowing your family is protected.

The insured couple doesn’t necessarily have to pass at the same time. However, there will be a limit on the time interval, such as 30 days.