A joint life,last-to-die,life insurance is used primarily to help pay estate taxes.

Question

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A joint life, last-to-die life insurance policy is typically used by couples to help cover the potential estate tax liability upon the death of the second spouse. This policy pays out upon the death of the second spouse, and the death benefit is used to pay for any outstanding estate taxes, as well as any other expenses or debts associated with the estate.

A Joint Life,last-To-Die,life Insurance Is Used Primarily to Help Pay