Devoted to the Insurance industry and all thing related

At times within the life insurance world it’s hard to hear through the din of permanent life insurance naysayers.  So many so-called “experts” or financial gurus have written books, articles and made presentations about the evils of permanent life insurance policies.  Yet companies such as Pacific Life – founded by Leland Stanford of Stanford University – continue to introduce more quality insurance products to fit certain needs.

Without going into a long explanation of term vs. permanent life insurance suffice it to say that there are a wide variety of permanent life insurance products that are suited for specific situations.  One financial product doesn’t fit all just like one car, house, or pair of shoes don’t fit all types and tastes.  

The new product from Pacific Life is a “second-to-die universal life insurance policy, a new version of a policy with an estate preservation rider that can double the policy’s death benefit proceeds if both insureds die within the policy’s first four years” according to National Underwriter.  The rider proceeds can be used to pay “unexpected estate taxes.”

 

Most couples will not need a second-to-die policy because most of our beneficiaries will never have to worry about paying estate taxes.  However, there are still hundreds of thousands if not more couples that should take estate taxes into consideration when planning for the future.