What Is Joint Last To Die Life Insurance? 
Joint last to die policies also may be known as second to die or survivorship life . The contract permits two policy insureds on one contract . It was originally conceived after the Martial deduction Actunder the Economic Recovery Tax A ct of 1981 andbecame law allowing the unlimited transfer of assets to the surviving spouse . Therefore , joint last to die polices were created to pay at the second death of the policy insured . 