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Last Survivor Insurance

 
Insurance Dictionary: Last Survivor Insurance
 

Coverage of two or more individuals with the death benefit payable at the last death. Premiums are significantly lower than for policies that insure one person, since the probability of having to pay a death claim on the second death is lower.

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Insurance Dictionary. Dictionary of Insurance Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved.  Read more