How Does A Joint Life Insurance Policy Work? 
A Joint Life Insurance Policy is known by a few names : survivorship , second to die and my personal favorite last one out -LRB- just kidding . -RRB- Survivorship was originally conceived to correlate with the Marital Deduction Act in the eighties when the law allowed the state to pass between spouses at the first death tax free , i.e. taxes then are due at the second death of a married couple . The economic leverage of survivorship is significant and can address several inheritance strategies like estate taxes , charitable giving and making a difference for your children , grandchildren and maybe your great grandchildren as our societys life expectancy appear to be heading for age 100 . 