LINCOLN BENEFIT LIFE CO., an Allstate subsidiary, introduced Legacy Secure Survivorship Life, which insures two people and may help beneficiaries cover potential estate taxes and estate settlement costs.
It also pays a death benefit after the second insured person dies, when estate taxes are typically due.
The company claims the product provides estate heirs with the liquidity they need to meet potential estate tax requirements so they might not need to draw from estate assets, sell the family business or attempt to use their own cash reserves.
The estate liquidity rider provides two windows when customers can receive a partial or full return of premium or have their surrender charges waived. This feature gives customers the ability to manage changes in their personal situation or in estate tax laws.
Guarantees are based on the claims paying ability of Lincoln.
The new Legacy Secure Survivorship Life insurance product is offered via Allstate agents and financial representatives appointed to sell Lincoln Benefit Life Co. products. For more information, visit www.accessallstate.com.
