Lincoln Benefit Life Co., an Allstate company in Lincoln, Neb., announced Monday that it had introduced a Legacy Secure Survivorship Life insurance policy.
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The product insures two people, normally a husband and wife, and may help beneficiaries cover potential estate taxes and estate settlement costs. It pays a death benefit after the second insured person dies, when estate taxes typically come due.
The policy gives heirs the liquidity they may need to pay potential estate tax liabilities without drawing from estate assets, selling the family business, or resorting to their own cash reserves, the company said.
