Basics
Whether your goal is to leave an inheritance, protect your business, or provide a lasting benefit to a charity, MetLife can help.
MetLife's Legacy Advantage Survivorship Universal Life insurance is a "survivorship" policy. It covers two people, usually spouses, under one policy, but provides a benefit only after the second person passes away, which is typically when estate settlement matters arise. It can be an important part of your estate plan.
A Survivorship life insurance policy can be the right choice if you want to:
- Leave an inheritance for your heirs, a charity or a university
- Make it easier to control how your estate is distributed
- Maintain coverage for both insureds' entire lives, even well beyond age 100
Keep in mind that Legacy Advantage Survivorship Universal Life insurance generally covers two people at a cost lower than covering two people with two individual policies.
Things to consider about Survivorship Life Insurance:
- A benefit is paid only at the death of the second insured person, not the first
- Its primary purpose is to help you and another person plan your legacy
To help you learn more
Understand the differences between Permanent and Term Life policies.
Other types of coverage, for single lives:
Term Life Insurance for temporary simplified coverage and no cash value.
Whole Life Insurance for permanent coverage, with guaranteed premiums, death benefits and cash value growth.
Universal Life Insurance for permanent coverage, flexibility and less emphasis on cash value.
Variable Universal Life Insurance for permanent coverage, and potentially higher cash value through investment options, but you accept some risk.
1 Not all riders are available in every state. Optional riders are available for an additional fee and are subject to contractual terms, conditions and limitations. Most riders can be selected only when you apply for your policy.
2 Subject to state availability.
Guarantees apply to certain insurance and annuity products (not securities, variable or investment advisory products) and are subject to the insurer's claims-paying ability and financial strength.
Like most insurance policies contracts, MetLife's policies contain exclusions, limitations, reductions of benefits, and terms for keeping them in force. A representative will be glad to discuss any of these topics with you and provide you with costs and complete details.
Pursuant to IRS Circular 230, MetLife is providing you with the following notification: The information contained in this website is not intended to (and cannot) be used by anyone to avoid IRS penalties. This website supports the promotion and marketing of insurance products. You should seek advice based on your particular circumstances from an independent tax advisor.
Neither MetLife nor its representatives or agents are permitted to give legal or tax advice. Any discussion of legal or tax issues is for general informational purposes only and does not purport to either be complete or cover every situation. Current tax law is subject to interpretation and legislative change. Tax results vary depending on facts and circumstances. You should consult with and rely on your own legal and tax advisors.
Legacy Advantage Survivorship Universal Life is issued by Metropolitan Life Insurance Company New York, NY 10166 in New York State (policy form #1E-32-05-NY) and by MetLife Investors USA Insurance Company, Irvine, CA 92614 in all other states and jurisdictions (policy form #5E-32-05).
