Second to Die Matrix
Many people work hard to build up a substantial savings to pass on to future generations. Often, that nest egg is greatly diminished by federal taxes after the person's death.
Generally, federal estate taxes are due within nine months of death, and could absorb nearly half your assets before even a dollar goes to your heirs.1 Estate planning insurance, a form of universal life insurance, from American General Life Insurance Company, lets you plan ahead to help provide funds for taxes and settlement costs. This policy, also known as Second to Die, covers both you and your spouse and the benefits are paid on the second death, when your estate passes to your heirs and estate taxes are often due.
Estate planning insurance offers these benefits:
- Premium Payment Options - There are a variety of payment plans, so you can find the one that best fits your financial needs and goals. Pay the guarantee premium for lifetime security, pay less than the guarantee and catch up later, or contribute additional funds to accelerate the growth of your assets.
- No-Lapse Guarantee - As long as the cumulative monthly guarantee premium requirement is met, the policy is guaranteed to remain in force regardless of its cash value. If the younger insured is under 50 years old at the time of issue, guaranteed coverage will last 50 years; if he or she is 50 or older, the guarantee will last to age 100.
- Flexible Death Benefit - Increase or decrease your death benefit to fit your changing needs.2
- Zero-Interest Catch Up - You don't have to pay the monthly guarantee premium from day one. You can start with a lower premium and catch up the unpaid difference at any time without interest as long as the policy is still in force.