Question

A combination policy that provides a large death benefit to be paid upon the death of the last insured, and is typically utilized to pay estate taxes is called:

A. Credit Policy
B. Survivorship life
C. Joint life
D. Family Income

Answer 1

Survivorship life insurance is a combination policy that provides a large death benefit to be paid upon the death of the last insured. It is often used to pay estate taxes.

Step-by-step explanation:

The combination policy that provides a large death benefit to be paid upon the death of the last insured and is typically utilized to pay estate taxes is called Survivorship life. This policy is also known as second-to-die insurance and is commonly used to ensure that there are sufficient funds to cover estate taxes when both insured individuals have passed away.