What Is Dual Life Insurance? 
Dual life insurance is life insurance that is taken out jointly , often by married couples -LRB- but the two persons do not have to be married -RRB- , with both persons names as the Insured persons on the policy It does not pay the death benefit when the first of the Insured person passes , but pays the death benefit upon the passing of the second Insured person . Thus , the common title , `` second-to-die '' life insurance . It is also referred to as `` joint '' life insurance or `` survivorship '' life insurance . 