What is survivorship life insurance?

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Survivorship life insurance, also called "second-to-die" life insurance, covers two people at once, and the death benefit is paid upon the second death. It's sometimes used by couples to protect heirs from estate taxes. The underwriting is more lenient than it is for an individual policy, which means it can sometimes be used by couples to buy life insurance when one half of the couple would otherwise be uninsurable.