What Is Survivorship Universal Life Insurance? 
The only thing that separates this from other policies is the word survivorship . What this means is that the policy covers at least 2 individuals and it only pays a benefit with the last one dies . Survivorship policies are usually smaller face amount policies taken out by couples with larger estates . The reason they do this is to use the death benefit to cover or offset estate taxes for their heirs . I have personally not seen one done with a universal life policy . Reason being is the cost . In a majority of cases , it would probably be more cost-effective to use a traditional whole life policy for this purpose . 