Only on the death of the second insured, not the first. That is the whole design. The unlimited marital deduction means no federal estate tax is generally due at the first death, so the money is timed to arrive when a bill actually can. It also means the surviving spouse receives nothing from this policy, which is why it sits alongside individual coverage rather than replacing it.
Related FAQs
Most California couples do not, and that is worth saying plainly. With the federal exemption at $15 million per person in 2026 and California imposing no estate tax of its ...
Often yes, and that is one of the practical reasons couples look at it. Because the payout waits for the second death, underwriting can sometimes accommodate a health history that ...
Usually, because the insurer is pricing one death rather than two. Insuring two lives on one contract with a single payout at the second death generally costs less than two ...
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